AIA Group Ltd Acquires Shares of 26,839 Wheaton Precious Metals Corp. $WPM

Key Points

• AIA Group Ltd opened a new position in Wheaton Precious Metals, buying 26,839 shares worth about $3.52 million in the first quarter.
• Institutional interest remains strong, with hedge funds and other investors holding about 70.34% of the stock; several firms also increased their stakes during the quarter.
• Wheaton Precious Metals reported better-than-expected Q1 earnings of $1.28 EPS on revenue of $901.47 million, while analysts currently maintain a Moderate Buy consensus with an average target price of $161.09.

AIA Group Ltd acquired a new position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 26,839 shares of the company's stock, valued at approximately $3,516,000.

Other hedge funds have also bought and sold shares of the company. Mediolanum International Funds Ltd grew its holdings in Wheaton Precious Metals by 17.6% during the 1st quarter. Mediolanum International Funds Ltd now owns 79,403 shares of the company's stock valued at $9,828,000 after buying an additional 11,903 shares in the last quarter. Crescent Grove Advisors LLC raised its position in shares of Wheaton Precious Metals by 356.0% in the first quarter. Crescent Grove Advisors LLC now owns 20,399 shares of the company's stock worth $2,676,000 after buying an additional 15,926 shares in the last quarter. Euro Pacific Asset Management LLC raised its position in shares of Wheaton Precious Metals by 3.0% in the first quarter. Euro Pacific Asset Management LLC now owns 294,402 shares of the company's stock worth $37,895,000 after buying an additional 8,455 shares in the last quarter. Zhang Financial LLC boosted its stake in Wheaton Precious Metals by 4.9% during the first quarter. Zhang Financial LLC now owns 3,215 shares of the company's stock valued at $421,000 after buying an additional 151 shares during the period. Finally, Cornerstone Planning Group LLC boosted its stake in Wheaton Precious Metals by 245.5% during the first quarter. Cornerstone Planning Group LLC now owns 228 shares of the company's stock valued at $29,000 after buying an additional 162 shares during the period. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wheaton Precious Metals Trading Down 0.0%

Shares of NYSE:WPM opened at $104.16 on Monday. Wheaton Precious Metals Corp. has a 12-month low of $87.96 and a 12-month high of $165.76. The stock's 50-day moving average price is $120.54 and its 200-day moving average price is $132.05. The stock has a market capitalization of $47.30 billion, a P/E ratio of 26.30, a price-to-earnings-growth ratio of 1.85 and a beta of 0.55.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $1.28 earnings per share 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 firm had revenue of $901.47 million during the quarter, compared to the consensus estimate of $868.35 million. During the same quarter in the previous year, the company posted $0.55 earnings per share. The business's revenue was up 91.7% on a year-over-year basis. As a group, research analysts predict that Wheaton Precious Metals Corp. will post 4.82 EPS 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 given 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 yield of 0.7%. Wheaton Precious Metals's dividend payout ratio is presently 19.70%.

Analyst Upgrades and Downgrades

WPM has been the topic of a number of research analyst reports. Bank of America decreased their target price on Wheaton Precious Metals from $163.00 to $145.00 and set a "buy" rating on the stock in a research note on Thursday, July 9th. BMO Capital Markets assumed 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 for the company. Weiss Ratings cut shares of Wheaton Precious Metals from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday. Jefferies Financial Group dropped their price objective 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. Finally, Royal Bank Of Canada decreased their price objective on Wheaton Precious Metals from $165.00 to $160.00 and set an "outperform" rating on the stock in a report on Thursday, July 9th. Twelve investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $161.09.

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.

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