Wheaton Precious Metals Corp. $WPM Shares Acquired by Man Group plc

Man Group plc grew its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 43.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,406,726 shares of the company’s stock after acquiring an additional 429,151 shares during the quarter. Man Group plc owned about 0.31% of Wheaton Precious Metals worth $165,318,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Assetmark Inc. increased its stake in shares of Wheaton Precious Metals by 144.4% in the 4th quarter. Assetmark Inc. now owns 220 shares of the company’s stock worth $26,000 after acquiring an additional 130 shares during the last quarter. Harvest Fund Management Co. Ltd increased its stake in shares of Wheaton Precious Metals by 100.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock worth $27,000 after acquiring an additional 117 shares during the last quarter. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Wheaton Precious Metals in the 4th quarter worth $28,000. Navalign LLC acquired a new stake in shares of Wheaton Precious Metals in the 4th quarter worth $30,000. Finally, Eagle Bay Advisors LLC acquired a new stake in shares of Wheaton Precious Metals in the 4th quarter worth $32,000. 70.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. BMO Capital Markets assumed coverage on Wheaton Precious Metals in a research note on Thursday, April 9th. They issued an “outperform” rating and a $240.00 target price for the company. TD Securities raised their price objective on Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. Scotiabank raised their price objective on Wheaton Precious Metals from $178.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. Zacks Research downgraded Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Finally, TD Cowen raised their price objective on Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. Thirteen investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.64.

Wheaton Precious Metals Trading Down 1.7%

Shares of NYSE:WPM opened at $126.01 on Thursday. The business has a 50-day moving average price of $132.27 and a 200 day moving average price of $132.38. The company has a market capitalization of $57.22 billion, a price-to-earnings ratio of 31.82, a PEG ratio of 2.42 and a beta of 0.51. Wheaton Precious Metals Corp. has a 12-month low of $85.59 and a 12-month high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.04. The firm had revenue of $901.47 million during the quarter, compared to the consensus estimate of $868.35 million. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.The company’s quarterly revenue was up 91.7% on a year-over-year basis. During the same period last year, the company earned $0.55 EPS. As a group, equities research analysts predict that Wheaton Precious Metals Corp. will post 4.98 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were given a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Wednesday, May 27th. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 19.70%.

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.