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

WCM Investment Management LLC purchased a new stake in Wheaton Precious Metals Corp. (NYSE:WPM) during the first quarter, HoldingsChannel reports. The institutional investor purchased 49,498 shares of the company’s stock, valued at approximately $6,123,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Wheaton Precious Metals in the fourth quarter valued at approximately $864,977,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Wheaton Precious Metals by 40.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,912,588 shares of the company’s stock worth $694,951,000 after purchasing an additional 1,715,540 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Wheaton Precious Metals by 10.7% during the fourth quarter. Van ECK Associates Corp now owns 14,469,877 shares of the company’s stock worth $1,700,517,000 after purchasing an additional 1,402,092 shares during the period. Qube Research & Technologies Ltd grew its stake in shares of Wheaton Precious Metals by 1,655.4% in the third quarter. Qube Research & Technologies Ltd now owns 1,245,766 shares of the company’s stock worth $139,333,000 after purchasing an additional 1,174,799 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Wheaton Precious Metals by 2,621.8% in the fourth quarter. AQR Capital Management LLC now owns 903,678 shares of the company’s stock worth $106,239,000 after purchasing an additional 870,476 shares during the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Stock Performance

NYSE:WPM opened at $103.56 on Tuesday. Wheaton Precious Metals Corp. has a 52 week low of $89.70 and a 52 week high of $165.76. The firm’s fifty day moving average is $119.74 and its 200-day moving average is $131.94. The firm has a market cap of $47.03 billion, a P/E ratio of 26.15, a P/E/G ratio of 1.85 and a beta of 0.55.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter, topping 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 earned $0.55 earnings per share. Wheaton Precious Metals’s quarterly revenue was up 91.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Wheaton Precious Metals Corp. will post 4.82 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The firm also recently declared 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. This represents a $0.78 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Wednesday, May 27th. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 19.70%.

Analyst Ratings Changes

Several brokerages recently issued reports on WPM. Wall Street Zen lowered Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Royal Bank Of Canada reduced their price target on Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Bank of America decreased their price target 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. BMO Capital Markets began coverage on Wheaton Precious Metals in a research report on Thursday, April 9th. They set an “outperform” rating and a $240.00 price objective for the company. Finally, UBS Group lowered their price objective on 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. 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.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $161.09.

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.