Plato Investment Management Ltd Makes New Investment in Wheaton Precious Metals Corp. $WPM

Plato Investment Management Ltd bought a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 5,642 shares of the company’s stock, valued at approximately $631,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Assetmark Inc. increased its position in shares of Wheaton Precious Metals by 144.4% during the fourth quarter. Assetmark Inc. now owns 220 shares of the company’s stock worth $26,000 after acquiring an additional 130 shares in the last quarter. Cornerstone Planning Group LLC raised its holdings in shares of Wheaton Precious Metals by 245.5% during the first quarter. Cornerstone Planning Group LLC now owns 228 shares of the company’s stock worth $29,000 after acquiring an additional 162 shares during the period. Harvest Fund Management Co. Ltd lifted its position in Wheaton Precious Metals by 100.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock valued at $27,000 after acquiring an additional 117 shares in the last quarter. Hollencrest Capital Management lifted its position in Wheaton Precious Metals by 73.5% in the 1st quarter. Hollencrest Capital Management now owns 236 shares of the company’s stock valued at $31,000 after acquiring an additional 100 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC acquired a new position in Wheaton Precious Metals in the 4th quarter worth $28,000. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Performance

Shares of WPM stock opened at $132.69 on Wednesday. Wheaton Precious Metals Corp. has a 12 month low of $90.94 and a 12 month high of $165.76. The company’s fifty day simple moving average is $116.80 and its 200-day simple moving average is $130.20. The firm has a market cap of $60.26 billion, a PE ratio of 29.42, a P/E/G ratio of 2.38 and a beta of 0.55. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.20.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Thursday, August 6th. The company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $879.29 million. During the same quarter last year, the firm earned $0.63 earnings per share. The firm’s revenue for the quarter was up 84.7% compared to the same quarter last year. Equities research analysts expect that Wheaton Precious Metals Corp. will post 4.79 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be paid a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Thursday, August 20th. Wheaton Precious Metals’s dividend payout ratio is currently 17.29%.

Analyst Upgrades and Downgrades

WPM has been the subject of a number of research reports. Scotiabank lowered their target price 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. Weiss Ratings lowered Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. UBS Group reduced their price objective on Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Royal Bank Of Canada decreased their price objective 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. Finally, Berenberg Bank set a $157.00 target price on Wheaton Precious Metals in a research report on Tuesday, July 28th. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $165.55.

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.