Plato Investment Management Ltd Makes New $631,000 Investment in Wheaton Precious Metals Corp. $WPM

Plato Investment Management Ltd bought a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 5,642 shares of the company’s stock, valued at approximately $631,000.

Several other hedge funds also recently modified their holdings of the business. Assetmark Inc. raised its stake in shares of Wheaton Precious Metals by 144.4% during the fourth quarter. Assetmark Inc. now owns 220 shares of the company’s stock worth $26,000 after buying an additional 130 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its stake in Wheaton Precious Metals by 100.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock valued at $27,000 after acquiring an additional 117 shares during the last quarter. Cary Street Partners Investment Advisory LLC bought a new position in Wheaton Precious Metals in the fourth quarter valued at approximately $28,000. Cornerstone Planning Group LLC grew its holdings in Wheaton Precious Metals by 245.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 228 shares of the company’s stock worth $29,000 after acquiring an additional 162 shares during the period. Finally, Navalign LLC acquired a new stake in Wheaton Precious Metals during the 4th quarter worth $30,000. Institutional investors own 70.34% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Royal Bank Of Canada cut their price target on Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Weiss Ratings cut Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Bank of America dropped their price objective 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. Berenberg Bank set a $157.00 target price on Wheaton Precious Metals in a research note on Tuesday, July 28th. Finally, Scotiabank reduced their target price on 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. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $165.55.

Wheaton Precious Metals Trading Down 2.9%

WPM opened at $132.69 on Wednesday. The firm’s fifty day moving average is $116.80 and its two-hundred day moving average is $130.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.47 and a current ratio of 0.47. The firm has a market cap of $60.26 billion, a PE ratio of 29.42, a price-to-earnings-growth ratio of 2.38 and a beta of 0.55. Wheaton Precious Metals Corp. has a twelve month low of $90.94 and a twelve month high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Thursday, August 6th. The company reported $1.19 earnings per share 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 company had revenue of $878.00 million for the quarter, compared to analysts’ expectations of $879.29 million. During the same period last year, the firm posted $0.63 earnings per share. The business’s quarterly revenue was up 84.7% compared to the same quarter last year. Equities research analysts anticipate that Wheaton Precious Metals Corp. will post 4.79 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be issued a dividend of $0.195 per share. The ex-dividend date is Thursday, August 20th. This represents a $0.78 annualized dividend and a yield of 0.6%. Wheaton Precious Metals’s payout ratio is currently 17.29%.

Wheaton Precious Metals Company 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.