Man Group plc Invests $41.93 Million in Wheaton Precious Metals Corp. $WPM

Man Group plc purchased a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 373,295 shares of the company’s stock, valued at approximately $41,928,000. Man Group plc owned approximately 0.08% of Wheaton Precious Metals at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd grew its stake in Wheaton Precious Metals by 100.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock worth $27,000 after buying an additional 117 shares in the last quarter. Cary Street Partners Investment Advisory LLC acquired a new position in shares of Wheaton Precious Metals in the 4th quarter valued at approximately $28,000. Cornerstone Planning Group LLC raised its position in shares of Wheaton Precious Metals by 245.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 228 shares of the company’s stock valued at $29,000 after buying an additional 162 shares in the last quarter. Navalign LLC bought a new stake in shares of Wheaton Precious Metals during the 4th quarter worth approximately $30,000. Finally, Hollencrest Capital Management boosted its position in shares of Wheaton Precious Metals by 73.5% during the 1st quarter. Hollencrest Capital Management now owns 236 shares of the company’s stock worth $31,000 after acquiring an additional 100 shares in the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on WPM. Royal Bank Of Canada cut their target price on Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Scotiabank lowered their price target on Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. 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 research report on Thursday, July 9th. Weiss Ratings lowered Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Finally, UBS Group decreased their target price 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 analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $165.55.

Wheaton Precious Metals Stock Performance

NYSE:WPM opened at $155.75 on Thursday. The stock’s 50-day moving average is $121.21 and its 200-day moving average is $130.97. Wheaton Precious Metals Corp. has a 1-year low of $92.57 and a 1-year high of $165.76. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.20. The stock has a market cap of $70.74 billion, a P/E ratio of 34.53, a price-to-earnings-growth ratio of 2.89 and a beta of 0.55.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Thursday, August 6th. The company reported $1.19 EPS for the quarter, topping the consensus estimate 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 business had revenue of $878.00 million for the quarter, compared to the consensus estimate of $879.29 million. During the same period last year, the company earned $0.63 EPS. The firm’s 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 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be issued a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Thursday, August 20th. Wheaton Precious Metals’s payout ratio is 17.29%.

About Wheaton Precious Metals

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.