The Manufacturers Life Insurance Company Has $376.39 Million Stake in Wheaton Precious Metals Corp. $WPM

The Manufacturers Life Insurance Company raised its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 3.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,870,587 shares of the company’s stock after acquiring an additional 92,435 shares during the period. The Manufacturers Life Insurance Company’s holdings in Wheaton Precious Metals were worth $376,387,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Parvin Asset Management LLC grew its stake in Wheaton Precious Metals by 0.6% during the fourth quarter. Parvin Asset Management LLC now owns 11,925 shares of the company’s stock worth $1,401,000 after buying an additional 75 shares during the last quarter. Johnson Investment Counsel Inc. raised its stake in shares of Wheaton Precious Metals by 0.4% in the fourth quarter. Johnson Investment Counsel Inc. now owns 20,465 shares of the company’s stock valued at $2,405,000 after acquiring an additional 75 shares during the last quarter. Concurrent Investment Advisors LLC boosted its holdings in shares of Wheaton Precious Metals by 1.9% in the 4th quarter. Concurrent Investment Advisors LLC now owns 4,203 shares of the company’s stock worth $494,000 after acquiring an additional 78 shares in the last quarter. Gables Capital Management Inc. boosted its holdings in shares of Wheaton Precious Metals by 7.9% in the 4th quarter. Gables Capital Management Inc. now owns 1,079 shares of the company’s stock worth $127,000 after acquiring an additional 79 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its position in Wheaton Precious Metals by 0.3% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 27,105 shares of the company’s stock worth $3,185,000 after acquiring an additional 86 shares during the last quarter. 70.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Royal Bank Of Canada dropped their price target on Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. BMO Capital Markets began coverage on Wheaton Precious Metals in a research note on Thursday, April 9th. They issued an “outperform” rating and a $240.00 price objective on the stock. Weiss Ratings cut Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Wall Street Zen lowered Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Jefferies Financial Group cut their price target on Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating for the company in a report on Monday, July 6th. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $161.09.

Wheaton Precious Metals Stock Performance

NYSE:WPM opened at $111.91 on Tuesday. The company has a market cap of $50.83 billion, a price-to-earnings ratio of 28.26, a P/E/G ratio of 2.01 and a beta of 0.55. The stock’s fifty day moving average price is $117.15 and its two-hundred day moving average price is $131.63. Wheaton Precious Metals Corp. has a 52-week low of $90.39 and a 52-week high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Thursday, May 7th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.24 by $0.04. The company 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 revenue for the quarter was up 91.7% on a year-over-year basis. During the same period last year, the firm earned $0.55 EPS. On average, equities analysts predict that Wheaton Precious Metals Corp. will post 4.73 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were issued a $0.195 dividend. The ex-dividend date was Wednesday, May 27th. This represents a $0.78 annualized dividend and a yield of 0.7%. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 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.