Maverick Capital Ltd. Makes New Investment in Wheaton Precious Metals Corp. $WPM

Maverick Capital Ltd. acquired a new stake in Wheaton Precious Metals Corp. (NYSE:WPM) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,247 shares of the company’s stock, valued at approximately $820,000.

A number of other institutional investors and hedge funds have also made changes to their positions in WPM. Assetmark Inc. increased its stake in Wheaton Precious Metals by 144.4% in the 4th quarter. Assetmark Inc. now owns 220 shares of the company’s stock valued at $26,000 after buying an additional 130 shares during the period. Harvest Fund Management Co. Ltd lifted its stake in shares of Wheaton Precious Metals by 100.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock worth $27,000 after acquiring an additional 117 shares during the period. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at about $28,000. Cornerstone Planning Group LLC boosted its holdings in shares of Wheaton Precious Metals by 245.5% in the first quarter. Cornerstone Planning Group LLC now owns 228 shares of the company’s stock valued at $29,000 after acquiring an additional 162 shares in the last quarter. Finally, Navalign LLC acquired a new position in shares of Wheaton Precious Metals during the fourth quarter worth about $30,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. UBS Group cut 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 report on Tuesday, June 30th. Wall Street Zen lowered Wheaton Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Jefferies Financial Group dropped their target price on Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Bank of America cut their target price on Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Finally, Berenberg Bank set a $157.00 price target on Wheaton Precious Metals in a report on Tuesday. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $165.55.

Wheaton Precious Metals Stock Performance

Shares of NYSE WPM opened at $109.47 on Wednesday. Wheaton Precious Metals Corp. has a one year low of $90.39 and a one year high of $165.76. The firm has a market capitalization of $49.72 billion, a P/E ratio of 27.64, a PEG ratio of 2.02 and a beta of 0.55. The company’s fifty day moving average is $116.86 and its two-hundred day moving average is $131.53.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $868.35 million. During the same quarter last year, the firm posted $0.55 EPS. The business’s revenue was up 91.7% compared to the same quarter last year. On average, sell-side analysts forecast that Wheaton Precious Metals Corp. will post 4.73 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

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

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.