Maverick Capital Ltd. Makes New $820,000 Investment in Wheaton Precious Metals Corp. $WPM

Maverick Capital Ltd. bought a new stake in Wheaton Precious Metals Corp. (NYSE:WPM) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,247 shares of the company’s stock, valued at approximately $820,000.

A number of other hedge funds have also made changes to their positions in the company. AQR Capital Management LLC acquired a new stake in Wheaton Precious Metals in the 1st quarter valued at about $331,000. Focus Partners Wealth grew its position in shares of Wheaton Precious Metals by 10.7% in the first quarter. Focus Partners Wealth now owns 11,223 shares of the company’s stock valued at $871,000 after purchasing an additional 1,081 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Wheaton Precious Metals in the first quarter valued at approximately $209,000. Sivia Capital Partners LLC purchased a new position in shares of Wheaton Precious Metals during the 2nd quarter worth approximately $239,000. Finally, Rhumbline Advisers increased its stake in shares of Wheaton Precious Metals by 28.3% during the 2nd quarter. Rhumbline Advisers now owns 2,952 shares of the company’s stock worth $265,000 after purchasing an additional 652 shares in the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Jefferies Financial Group reduced their target price on Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. Wall Street Zen downgraded Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Royal Bank Of Canada cut 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. UBS Group reduced their price objective 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. Finally, BMO Capital Markets assumed coverage on Wheaton Precious Metals in a research note on Thursday, April 9th. They set an “outperform” rating and a $240.00 price objective on the stock. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Wheaton Precious Metals presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.55.

Wheaton Precious Metals Stock Performance

Wheaton Precious Metals stock opened at $109.47 on Wednesday. Wheaton Precious Metals Corp. has a 1 year low of $90.39 and a 1 year high of $165.76. The firm has a 50 day moving average price of $116.86 and a 200 day moving average price of $131.53. The company has a market cap of $49.72 billion, a price-to-earnings ratio of 27.64, a PEG ratio of 2.02 and a beta of 0.55.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.04. The company had revenue of $901.47 million for the quarter, compared to the consensus estimate of $868.35 million. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. Wheaton Precious Metals’s revenue was up 91.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.55 earnings per share. Sell-side analysts predict that Wheaton Precious Metals Corp. will post 4.73 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th were issued a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Wednesday, May 27th. Wheaton Precious Metals’s dividend payout ratio is presently 19.70%.

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.