MUFG Securities EMEA plc Acquires Shares of 330,000 Wheaton Precious Metals Corp. $WPM

Key Points

• MUFG Securities EMEA plc opened a new position in Wheaton Precious Metals, buying 330,000 shares valued at about $38.8 million in the fourth quarter.
• Wheaton Precious Metals reported better-than-expected quarterly results, with EPS of $1.28 versus $1.24 expected and revenue of $901.47 million, up 91.7% year over year.
• The company announced a quarterly dividend of $0.195 per share, while analysts currently rate the stock a Moderate Buy with a consensus price target of $155.64.

MUFG Securities EMEA plc acquired a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 330,000 shares of the company's stock, valued at approximately $38,804,000. MUFG Securities EMEA plc owned approximately 0.07% of Wheaton Precious Metals at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Varma Mutual Pension Insurance Co grew its stake in shares of Wheaton Precious Metals by 8.5% during the third quarter. Varma Mutual Pension Insurance Co now owns 207,358 shares of the company's stock worth $23,210,000 after buying an additional 16,300 shares during the last quarter. TD Asset Management Inc grew its stake in shares of Wheaton Precious Metals by 3.5% during the third quarter. TD Asset Management Inc now owns 7,252,054 shares of the company's stock worth $811,726,000 after buying an additional 244,027 shares during the last quarter. Mediolanum International Funds Ltd grew its stake in shares of Wheaton Precious Metals by 35.6% during the third quarter. Mediolanum International Funds Ltd now owns 72,970 shares of the company's stock worth $8,063,000 after buying an additional 19,159 shares during the last quarter. Sprott Inc. grew its stake in shares of Wheaton Precious Metals by 3.0% during the third quarter. Sprott Inc. now owns 1,151,886 shares of the company's stock worth $128,928,000 after buying an additional 33,076 shares during the last quarter. Finally, LBP AM SA grew its stake in shares of Wheaton Precious Metals by 632.2% during the fourth quarter. LBP AM SA now owns 119,855 shares of the company's stock worth $14,085,000 after buying an additional 103,485 shares during the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Stock Up 2.1%

Shares of Wheaton Precious Metals stock opened at $132.74 on Friday. Wheaton Precious Metals Corp. has a twelve month low of $85.59 and a twelve month high of $165.76. The stock has a market cap of $60.28 billion, a price-to-earnings ratio of 33.52, a P/E/G ratio of 2.50 and a beta of 0.50. The company's fifty day moving average is $133.63 and its 200 day moving average is $130.61.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $901.47 million for the quarter, compared to analysts' expectations of $868.35 million. During the same quarter in the previous year, the firm posted $0.55 earnings per share. Wheaton Precious Metals's revenue for the quarter was up 91.7% on a year-over-year basis. As a group, equities analysts anticipate that Wheaton Precious Metals Corp. will post 4.98 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th will be paid a $0.195 dividend. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $0.78 annualized dividend and a dividend yield of 0.6%. Wheaton Precious Metals's payout ratio is currently 19.70%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on WPM shares. TD Securities boosted their target price on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a "buy" rating in a research note on Monday, March 16th. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a research note on Wednesday, February 4th. Scotiabank boosted their target price on shares of Wheaton Precious Metals from $178.00 to $180.00 and gave the stock an "outperform" rating in a research note on Thursday, May 14th. UBS Group raised shares of Wheaton Precious Metals from a "neutral" rating to a "buy" rating and set a $160.00 target price on the stock in a research note on Friday, March 27th. Finally, Zacks Research cut shares of Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 5th. Thirteen equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $155.64.

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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