373,295 Shares in Wheaton Precious Metals Corp. $WPM Acquired by Man Group plc

Man Group plc bought a new stake in Wheaton Precious Metals Corp. (NYSE:WPM) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 373,295 shares of the company’s stock, valued at approximately $41,928,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Wheaton Precious Metals in the 4th quarter worth approximately $864,977,000. BlackRock Inc. bought a new position in Wheaton Precious Metals during the second quarter worth $581,250,000. Canada Pension Plan Investment Board acquired a new position in Wheaton Precious Metals in the second quarter valued at $351,708,000. Legal & General Group Plc acquired a new position in Wheaton Precious Metals in the second quarter valued at $320,838,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Wheaton Precious Metals during the second quarter valued at $310,738,000. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Down 4.9%

Shares of NYSE:WPM opened at $155.75 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.47 and a current ratio of 0.47. Wheaton Precious Metals Corp. has a 52-week low of $92.57 and a 52-week high of $165.76. The business’s 50 day simple moving average is $121.21 and its two-hundred day simple moving average is $130.97. The firm has a market cap of $70.74 billion, a P/E ratio of 34.53, a PEG ratio of 2.89 and a beta of 0.55.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.15 by $0.04. The firm had revenue of $878.00 million during the quarter, compared to the consensus estimate of $879.29 million. Wheaton Precious Metals had a return on equity of 21.97% and a net margin of 64.66%.The company’s quarterly revenue was up 84.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.63 earnings per share. As a group, research analysts forecast that Wheaton Precious Metals Corp. will post 4.79 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 20th will be given a $0.195 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.78 annualized dividend and a yield of 0.5%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 17.29%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on WPM shares. Royal Bank Of Canada decreased 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. Jefferies Financial Group dropped their price objective 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. Scotiabank decreased their target price on Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating for the company in a research note on Tuesday, July 14th. UBS Group lowered their target price on Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Finally, Bank of America dropped their price target on Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Wheaton Precious Metals currently has a consensus rating of “Moderate Buy” and an average price target of $165.55.

About Wheaton Precious Metals

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.