235,641 Shares in Wheaton Precious Metals Corp. $WPM Bought by SEB Asset Management AB

SEB Asset Management AB acquired a new position in Wheaton Precious Metals Corp. (NYSE:WPM) during the first quarter, Holdings Channel.com reports. The firm acquired 235,641 shares of the company’s stock, valued at approximately $30,832,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WPM. Assetmark Inc. grew its stake in shares of Wheaton Precious Metals by 144.4% during the fourth quarter. Assetmark Inc. now owns 220 shares of the company’s stock valued at $26,000 after acquiring an additional 130 shares in the last quarter. Cornerstone Planning Group LLC increased its position 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 last quarter. Harvest Fund Management Co. Ltd lifted its stake in shares of Wheaton Precious Metals by 100.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock worth $27,000 after acquiring an additional 117 shares in the last quarter. Cary Street Partners Investment Advisory LLC acquired a new position in shares of Wheaton Precious Metals in the fourth quarter worth about $28,000. Finally, Navalign LLC purchased a new position in Wheaton Precious Metals in the fourth quarter valued at about $30,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on WPM shares. Wall Street Zen lowered Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. BMO Capital Markets assumed coverage on Wheaton Precious Metals in a research report on Thursday, April 9th. They issued an “outperform” rating and a $240.00 target price on the stock. Jefferies Financial Group reduced their target price on Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating for the company in a research note on Monday, July 6th. UBS Group decreased their price target on shares of 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. Finally, Royal Bank Of Canada dropped their price target on shares of Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Twelve research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Wheaton Precious Metals has a consensus rating of “Moderate Buy” and an average target price of $161.09.

Wheaton Precious Metals Stock Performance

WPM stock opened at $104.16 on Monday. Wheaton Precious Metals Corp. has a 1 year low of $87.96 and a 1 year high of $165.76. The stock has a market capitalization of $47.30 billion, a price-to-earnings ratio of 26.30, a PEG ratio of 1.85 and a beta of 0.55. The stock’s fifty day moving average is $120.54 and its two-hundred day moving average is $132.05.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Thursday, May 7th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.24 by $0.04. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The business had revenue of $901.47 million during the quarter, compared to analyst estimates of $868.35 million. During the same quarter in the prior year, the firm earned $0.55 earnings per share. The company’s quarterly revenue was up 91.7% on a year-over-year basis. As a group, analysts predict that Wheaton Precious Metals Corp. will post 4.82 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company 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. This represents a $0.78 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, May 27th. Wheaton Precious Metals’s 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.