LGT Fund Management Co Ltd. Takes Position in Wheaton Precious Metals Corp. $WPM

LGT Fund Management Co Ltd. purchased a new stake in Wheaton Precious Metals Corp. (NYSE:WPM) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 20,907 shares of the company’s stock, valued at approximately $2,745,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Wheaton Precious Metals by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 19,079,029 shares of the company’s stock worth $2,242,969,000 after buying an additional 289,939 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of 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 worth $1,700,517,000 after acquiring an additional 1,402,092 shares during the last quarter. Capital International Investors raised its holdings in shares of Wheaton Precious Metals by 1.2% during the 4th quarter. Capital International Investors now owns 7,595,725 shares of the company’s stock worth $892,650,000 after acquiring an additional 93,599 shares during the period. Norges Bank purchased a new position in shares of Wheaton Precious Metals during the 4th quarter worth $864,977,000. Finally, TD Asset Management Inc boosted its position in shares of Wheaton Precious Metals by 0.5% during the 4th quarter. TD Asset Management Inc now owns 7,285,275 shares of the company’s stock valued at $857,598,000 after acquiring an additional 33,221 shares during the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Price Performance

NYSE WPM opened at $110.06 on Monday. The firm’s 50-day moving average is $123.00 and its two-hundred day moving average is $132.56. Wheaton Precious Metals Corp. has a 12 month low of $87.96 and a 12 month high of $165.76. The stock has a market capitalization of $49.98 billion, a P/E ratio of 27.79, a PEG ratio of 1.89 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 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.04. The business had revenue of $901.47 million during the quarter, compared to analysts’ expectations of $868.35 million. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The business’s revenue for the quarter was up 91.7% on a year-over-year basis. During the same period last year, the business earned $0.55 earnings per share. As a group, analysts anticipate that Wheaton Precious Metals Corp. will post 4.78 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th were given 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 payout ratio is presently 19.70%.

Analyst Ratings Changes

Several research firms recently issued reports on WPM. Royal Bank Of Canada cut their price objective on shares of Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday. BMO Capital Markets assumed coverage on shares of Wheaton Precious Metals in a research note on Thursday, April 9th. They issued an “outperform” rating and a $240.00 price target for the company. Jefferies Financial Group cut their price target on shares of Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating for the company in a report on Monday, July 6th. TD Securities lifted their price target on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, March 16th. Finally, Scotiabank upped their price objective on Wheaton Precious Metals from $178.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Twelve research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $161.55.

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.