The Manufacturers Life Insurance Company acquired a new stake in Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 2,767,598 shares of the company’s stock, valued at approximately $310,738,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Stack Financial Management Inc acquired a new stake in shares of Wheaton Precious Metals in the 2nd quarter valued at approximately $30,118,000. Euro Pacific Asset Management LLC increased its holdings in Wheaton Precious Metals by 3.0% during the first quarter. Euro Pacific Asset Management LLC now owns 294,402 shares of the company’s stock worth $37,895,000 after buying an additional 8,455 shares during the last quarter. Abacus Wealth Partners LLC increased its holdings in Wheaton Precious Metals by 1,402.0% during the fourth quarter. Abacus Wealth Partners LLC now owns 32,023 shares of the company’s stock worth $3,763,000 after buying an additional 29,891 shares during the last quarter. Pecaut & CO. bought a new stake in Wheaton Precious Metals during the second quarter worth $1,297,000. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in Wheaton Precious Metals by 489.7% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 74,300 shares of the company’s stock worth $8,631,000 after acquiring an additional 61,700 shares in the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on WPM. Royal Bank Of Canada decreased their price objective on shares of Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Scotiabank dropped their target price on shares of Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating on the stock in a report on Tuesday, July 14th. Berenberg Bank set a $157.00 target price on shares of Wheaton Precious Metals in a research note on Tuesday, July 28th. Bank of America reduced their price target on Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Finally, UBS Group lowered their price target on Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.55.
Wheaton Precious Metals Trading Up 1.6%
Shares of Wheaton Precious Metals stock opened at $160.25 on Tuesday. The business has a fifty day simple moving average of $119.91 and a two-hundred day simple moving average of $130.64. Wheaton Precious Metals Corp. has a 1 year low of $92.57 and a 1 year high of $165.76. The company has a market capitalization of $72.78 billion, a price-to-earnings ratio of 35.53, a P/E/G ratio of 2.79 and a beta of 0.55. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.47 and a quick ratio of 0.47.
Wheaton Precious Metals (NYSE:WPM – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 21.97%. The firm had revenue of $878.00 million during the quarter, compared to analysts’ expectations of $879.29 million. During the same period in the previous year, the business posted $0.63 earnings per share. The company’s revenue for the quarter was up 84.7% compared to the same quarter last year. Research analysts forecast that Wheaton Precious Metals Corp. will post 4.8 EPS for the current year.
Wheaton Precious Metals Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 20th will be issued a dividend of $0.195 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.78 annualized dividend and a dividend yield of 0.5%. Wheaton Precious Metals’s payout ratio is presently 17.29%.
Wheaton Precious Metals Profile
Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.
The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.
Featured Articles
- Five stocks we like better than Wheaton Precious Metals
- Visa Just Put Hims & Hers in the Penalty Box—Here’s Why It Matters
- Treasury Yields Are Surging Again: 3 Stocks That Could Feel the Pain
- Snowflake Could Be Headed for New Highs Despite Insider Selling
- MongoDB Is Surging—And the Next Catalyst Is Almost Here
Want to see what other hedge funds are holding WPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wheaton Precious Metals Corp. (NYSE:WPM – Free Report).
Receive News & Ratings for Wheaton Precious Metals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wheaton Precious Metals and related companies with MarketBeat.com's FREE daily email newsletter.
-logo-1200x675.png){kind=logo}
