Man Group plc Increases Stock Holdings in Wheaton Precious Metals Corp. $WPM

Man Group plc boosted its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 43.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,406,726 shares of the company’s stock after acquiring an additional 429,151 shares during the quarter. Man Group plc’s holdings in Wheaton Precious Metals were worth $165,318,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. TD Asset Management Inc boosted its holdings in Wheaton Precious Metals by 3.5% during the 3rd quarter. TD Asset Management Inc now owns 7,252,054 shares of the company’s stock valued at $811,726,000 after acquiring an additional 244,027 shares during the period. Sprott Inc. boosted its holdings in Wheaton Precious Metals by 3.0% during the 3rd quarter. Sprott Inc. now owns 1,151,886 shares of the company’s stock valued at $128,928,000 after acquiring an additional 33,076 shares during the period. LBP AM SA boosted its holdings in Wheaton Precious Metals by 632.2% during the 4th quarter. LBP AM SA now owns 119,855 shares of the company’s stock valued at $14,085,000 after acquiring an additional 103,485 shares during the period. Moody Lynn & Lieberson LLC purchased a new position in Wheaton Precious Metals during the 4th quarter valued at about $2,052,000. Finally, Montrusco Bolton Investments Inc. boosted its stake in shares of Wheaton Precious Metals by 107.0% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 233,795 shares of the company’s stock valued at $26,169,000 after buying an additional 120,866 shares during the period. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. TD Securities lifted their price objective on Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Wall Street Zen cut Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Zacks Research cut Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. UBS Group upgraded Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 price objective for the company in a research note on Friday, March 27th. Finally, Scotiabank lifted their price objective on Wheaton Precious Metals from $178.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. Thirteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.64.

Wheaton Precious Metals Stock Performance

Shares of WPM opened at $126.01 on Thursday. The stock has a 50-day simple moving average of $132.27 and a 200-day simple moving average of $132.38. The stock has a market capitalization of $57.22 billion, a PE ratio of 31.82, a PEG ratio of 2.42 and a beta of 0.51. Wheaton Precious Metals Corp. has a 1 year low of $85.59 and a 1 year high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.04. The business had revenue of $901.47 million during the quarter, compared to analysts’ expectations of $868.35 million. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.The business’s quarterly revenue was up 91.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 EPS. Analysts predict that Wheaton Precious Metals Corp. will post 4.98 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were paid a dividend of $0.195 per share. The ex-dividend date was Wednesday, May 27th. This represents a $0.78 annualized dividend and a yield of 0.6%. Wheaton Precious Metals’s payout ratio 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.