Wheaton Precious Metals Corp. $WPM Stake Raised by Legal & General Group Plc

Legal & General Group Plc grew its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 0.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,214,022 shares of the company’s stock after buying an additional 11,042 shares during the period. Legal & General Group Plc owned 0.71% of Wheaton Precious Metals worth $378,343,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its holdings in Wheaton Precious Metals by 6.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,785 shares of the company’s stock worth $445,000 after purchasing an additional 244 shares in the last quarter. Cumberland Partners Ltd bought a new stake in Wheaton Precious Metals during the fourth quarter worth approximately $794,000. Nano Cap New Millennium Growth Fund L P bought a new stake in Wheaton Precious Metals during the fourth quarter worth approximately $88,000. Global Retirement Partners LLC raised its holdings in Wheaton Precious Metals by 14.0% during the fourth quarter. Global Retirement Partners LLC now owns 1,906 shares of the company’s stock worth $224,000 after purchasing an additional 234 shares in the last quarter. Finally, Mach 1 Financial Group LLC bought a new stake in Wheaton Precious Metals during the fourth quarter worth approximately $379,000. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Performance

Wheaton Precious Metals stock opened at $130.27 on Wednesday. The firm has a market cap of $59.16 billion, a price-to-earnings ratio of 32.90, a price-to-earnings-growth ratio of 2.39 and a beta of 0.50. Wheaton Precious Metals Corp. has a 1 year low of $84.46 and a 1 year high of $165.76. The firm’s 50 day moving average price is $133.92 and its two-hundred day moving average price is $130.16.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.04. The firm had revenue of $901.47 million for the quarter, compared to analyst estimates of $868.35 million. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The firm’s quarterly revenue was up 91.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.55 earnings per share. As a group, equities analysts predict that Wheaton Precious Metals Corp. will post 4.97 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th will be given a $0.195 dividend. The ex-dividend date is Wednesday, May 27th. This represents a $0.78 annualized dividend and a yield of 0.6%. Wheaton Precious Metals’s payout ratio is 19.70%.

Analyst Ratings Changes

Several brokerages recently commented on WPM. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Wheaton Precious Metals in a report on Wednesday, February 4th. Scotiabank boosted their target price on Wheaton Precious Metals from $178.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. BMO Capital Markets began coverage on Wheaton Precious Metals in a report on Thursday, April 9th. They set an “outperform” rating and a $240.00 target price on the stock. Wall Street Zen cut Wheaton Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, UBS Group raised Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 target price on the stock in a report on Friday, March 27th. Thirteen research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $155.64.

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.