Barings LLC Has $35.57 Million Position in Wheaton Precious Metals Corp. $WPM

Barings LLC cut its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 28.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 270,943 shares of the company’s stock after selling 107,937 shares during the period. Wheaton Precious Metals accounts for approximately 0.6% of Barings LLC’s portfolio, making the stock its 20th biggest holding. Barings LLC’s holdings in Wheaton Precious Metals were worth $35,572,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in WPM. Vanguard Group Inc. boosted its stake in Wheaton Precious Metals by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 19,079,029 shares of the company’s stock valued at $2,242,969,000 after purchasing an additional 289,939 shares during the period. Van ECK Associates Corp grew its holdings in Wheaton Precious Metals by 10.7% in the 4th quarter. Van ECK Associates Corp now owns 14,469,877 shares of the company’s stock valued at $1,700,517,000 after buying an additional 1,402,092 shares during the last quarter. Capital International Investors increased its position in Wheaton Precious Metals by 1.2% in the 4th quarter. Capital International Investors now owns 7,595,725 shares of the company’s stock worth $892,650,000 after buying an additional 93,599 shares during the period. Norges Bank bought a new position in Wheaton Precious Metals in the 4th quarter worth approximately $864,977,000. Finally, TD Asset Management Inc increased its position in Wheaton Precious Metals by 0.5% in the 4th quarter. TD Asset Management Inc now owns 7,285,275 shares of the company’s stock worth $857,598,000 after buying an additional 33,221 shares during the period. 70.34% of the stock is currently owned by institutional investors.

Wheaton Precious Metals Trading Down 3.9%

WPM stock opened at $104.28 on Friday. Wheaton Precious Metals Corp. has a 1-year low of $87.96 and a 1-year high of $165.76. The business’s 50 day moving average is $121.24 and its 200-day moving average is $132.14. The firm has a market cap of $47.35 billion, a P/E ratio of 26.33, a P/E/G ratio of 1.93 and a beta of 0.55.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly 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. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.The business had revenue of $901.47 million for the quarter, compared to analyst estimates of $868.35 million. During the same quarter in the previous year, the firm earned $0.55 EPS. Wheaton Precious Metals’s quarterly revenue was up 91.7% on a year-over-year basis. Sell-side analysts forecast that Wheaton Precious Metals Corp. will post 4.8 EPS for the current year.

Wheaton Precious Metals Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Royal Bank Of Canada reduced their price objective on Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wheaton Precious Metals in a research report on Monday, June 29th. 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. UBS Group cut their target price on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Finally, Bank of America reduced their price target on shares of Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Twelve investment 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.com, Wheaton Precious Metals has an average rating of “Moderate Buy” and a consensus price target of $161.09.

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.