WCM Investment Management LLC Takes $6.12 Million Position in Wheaton Precious Metals Corp. $WPM

WCM Investment Management LLC acquired a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 49,498 shares of the company’s stock, valued at approximately $6,123,000.

Several other institutional investors also recently modified their holdings of WPM. Regimen Wealth LLC acquired a new stake in Wheaton Precious Metals in the 1st quarter valued at about $204,000. SEB Asset Management AB acquired a new position in Wheaton Precious Metals during the first quarter worth approximately $30,832,000. Swiss National Bank increased its position in Wheaton Precious Metals by 27.0% during the first quarter. Swiss National Bank now owns 1,528,300 shares of the company’s stock worth $200,314,000 after buying an additional 325,200 shares during the last quarter. AIA Group Ltd bought a new stake in Wheaton Precious Metals in the first quarter valued at approximately $3,516,000. Finally, Mediolanum International Funds Ltd raised its stake in Wheaton Precious Metals by 17.6% in the first quarter. Mediolanum International Funds Ltd now owns 79,403 shares of the company’s stock valued at $9,828,000 after buying an additional 11,903 shares during the period. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Trading Down 0.6%

Shares of NYSE:WPM opened at $103.56 on Tuesday. The firm has a 50 day moving average of $119.74 and a 200-day moving average of $131.94. Wheaton Precious Metals Corp. has a 12 month low of $89.70 and a 12 month high of $165.76. The stock has a market capitalization of $47.03 billion, a PE ratio of 26.15, a PEG ratio of 1.85 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 (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.04. The business had revenue of $901.47 million for the quarter, compared to analyst estimates of $868.35 million. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The firm’s revenue for the quarter was up 91.7% on a year-over-year basis. During the same quarter last year, the business posted $0.55 EPS. On average, research analysts predict that Wheaton Precious Metals Corp. will post 4.82 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders 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 0.8%. Wheaton Precious Metals’s dividend payout ratio is presently 19.70%.

Analyst Upgrades and Downgrades

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

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.