Northwestern Mutual Wealth Management Co. lessened its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) by 70.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,253 shares of the company’s stock after selling 60,396 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Wheaton Precious Metals were worth $2,836,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of WPM. Norges Bank acquired a new stake in Wheaton Precious Metals during the 4th quarter valued at $864,977,000. BlackRock Inc. bought a new position in shares of Wheaton Precious Metals in the second quarter valued at about $581,250,000. Canada Pension Plan Investment Board acquired a new stake in shares of Wheaton Precious Metals during the 2nd quarter worth about $351,708,000. Bank of America Corp DE bought a new stake in shares of Wheaton Precious Metals during the 2nd quarter worth about $328,309,000. Finally, Legal & General Group Plc bought a new position in Wheaton Precious Metals in the 2nd quarter valued at about $320,838,000. Institutional investors own 70.34% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on WPM shares. Scotiabank lowered their price target on shares of Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, July 14th. Berenberg Bank set a $157.00 price target on shares of Wheaton Precious Metals in a research report on Tuesday, July 28th. Royal Bank Of Canada dropped their price objective on Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Jefferies Financial Group cut their target price on Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Finally, Bank of America dropped their price target on Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Wheaton Precious Metals currently has an average rating of “Moderate Buy” and a consensus price target of $165.55.
Wheaton Precious Metals Price Performance
Shares of WPM opened at $154.94 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.20. The stock has a market cap of $70.37 billion, a PE ratio of 34.35, a PEG ratio of 2.77 and a beta of 0.60. Wheaton Precious Metals Corp. has a 12-month low of $92.57 and a 12-month high of $165.76. The business has a 50-day simple moving average of $126.18 and a two-hundred day simple moving average of $131.54.
Wheaton Precious Metals (NYSE:WPM – Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.04. Wheaton Precious Metals had a return on equity of 21.97% and a net margin of 64.66%.The firm had revenue of $878.00 million for the quarter, compared to analyst estimates of $879.29 million. During the same period last year, the firm posted $0.63 earnings per share. The business’s revenue for the quarter was up 84.7% on a year-over-year basis. Analysts anticipate that Wheaton Precious Metals Corp. will post 4.79 earnings per share for the current fiscal year.
Wheaton Precious Metals Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th were paid a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, August 20th. Wheaton Precious Metals’s dividend payout ratio is currently 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.
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