C WorldWide Group Holding A S Has $4.88 Million Position in Wheaton Precious Metals Corp. $WPM

Key Points

• C WorldWide Group Holding A S boosted its Wheaton Precious Metals stake by 75.9% in the first quarter, ending with 37,259 shares valued at about $4.88 million.
• Wheaton Precious Metals reported strong quarterly results, with earnings of $1.28 per share topping estimates and revenue rising 91.7% year over year to $901.47 million.
• Despite the solid results, the stock was down 3.9% to $104.28, while analysts still maintain a Moderate Buy consensus and an average price target of $161.09.

C WorldWide Group Holding A S increased its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 75.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,259 shares of the company's stock after purchasing an additional 16,072 shares during the period. C WorldWide Group Holding A S's holdings in Wheaton Precious Metals were worth $4,881,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Assetmark Inc. raised its holdings in Wheaton Precious Metals by 144.4% during the 4th quarter. Assetmark Inc. now owns 220 shares of the company's stock worth $26,000 after buying an additional 130 shares during the period. Harvest Fund Management Co. Ltd lifted its stake in Wheaton Precious Metals by 100.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company's stock valued at $27,000 after buying 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 valued at approximately $28,000. Navalign LLC acquired a new position in shares of Wheaton Precious Metals in the fourth quarter valued at approximately $30,000. Finally, Eagle Bay Advisors LLC bought a new stake in shares of Wheaton Precious Metals during the fourth quarter worth $32,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Stock Down 3.9%

Shares of WPM stock opened at $104.28 on Friday. The company's fifty day simple moving average is $121.24 and its 200-day simple moving average is $132.14. The firm has a market cap of $47.35 billion, a PE ratio of 26.33, a P/E/G ratio of 1.93 and a beta of 0.55. Wheaton Precious Metals Corp. has a 12 month low of $87.96 and a 12 month high of $165.76.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its 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. 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. The firm's revenue for the quarter was up 91.7% compared to the same quarter last year. On average, equities analysts predict that Wheaton Precious Metals Corp. will post 4.8 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders 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 dividend yield of 0.7%. The ex-dividend date was Wednesday, May 27th. Wheaton Precious Metals's dividend payout ratio is currently 19.70%.

Analysts Set New Price Targets

WPM has been the topic of a number of research analyst reports. BMO Capital Markets began coverage on shares of Wheaton Precious Metals in a report on Thursday, April 9th. They set an "outperform" rating and a $240.00 price objective on the stock. Scotiabank lowered their target price on Wheaton Precious Metals from $180.00 to $175.00 and set a "sector outperform" rating for the company in a report on Tuesday. Bank of America dropped their price target 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. UBS Group cut their price target on Wheaton Precious Metals from $165.00 to $150.00 and set a "buy" rating on the stock in a report on Tuesday, June 30th. Finally, Wall Street Zen cut Wheaton Precious Metals from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Twelve 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 presently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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