The Manufacturers Life Insurance Company Grows Stake in Wheaton Precious Metals Corp. (NYSE:WPM)

The Manufacturers Life Insurance Company raised its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 22.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,456,230 shares of the company’s stock after acquiring an additional 634,843 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Wheaton Precious Metals were worth $211,207,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Dynamic Technology Lab Private Ltd bought a new stake in shares of Wheaton Precious Metals in the third quarter valued at approximately $1,287,000. Pekin Hardy Strauss Inc. raised its position in shares of Wheaton Precious Metals by 6.6% in the third quarter. Pekin Hardy Strauss Inc. now owns 14,496 shares of the company’s stock valued at $885,000 after purchasing an additional 901 shares during the period. Cerity Partners LLC raised its position in shares of Wheaton Precious Metals by 31.3% in the third quarter. Cerity Partners LLC now owns 17,290 shares of the company’s stock valued at $1,056,000 after purchasing an additional 4,124 shares during the period. Great Valley Advisor Group Inc. raised its position in shares of Wheaton Precious Metals by 5.6% in the third quarter. Great Valley Advisor Group Inc. now owns 4,103 shares of the company’s stock valued at $251,000 after purchasing an additional 219 shares during the period. Finally, Icon Wealth Advisors LLC bought a new stake in shares of Wheaton Precious Metals in the third quarter valued at approximately $116,000. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Performance

Shares of Wheaton Precious Metals stock opened at $62.06 on Wednesday. Wheaton Precious Metals Corp. has a 52-week low of $38.57 and a 52-week high of $68.64. The stock has a market capitalization of $28.15 billion, a price-to-earnings ratio of 46.31, a price-to-earnings-growth ratio of 2.23 and a beta of 0.77. The company has a fifty day moving average of $62.99 and a 200-day moving average of $59.24.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.34. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The company had revenue of $308.25 million during the quarter, compared to analysts’ expectations of $324.57 million. During the same quarter in the prior year, the company earned $0.27 EPS. On average, equities research analysts forecast that Wheaton Precious Metals Corp. will post 1.44 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.62 annualized dividend and a yield of 1.00%. Wheaton Precious Metals’s payout ratio is currently 46.27%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on WPM. Scotiabank upped their target price on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Jefferies Financial Group upped their target price on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, October 4th. National Bank Financial raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. TD Securities upped their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, UBS Group began coverage on shares of Wheaton Precious Metals in a report on Monday, November 18th. They set a “buy” rating and a $78.00 target price on the stock. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and a consensus price target of $71.67.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.