Wheaton Precious Metals Corp. $WPM Shares Bought by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management Co. increased its stake in Wheaton Precious Metals Corp. by 26.8%, acquiring an additional 5,797 shares, bringing their total holdings to worth $2,132,000.
• Wheaton Precious Metals reported a significant quarterly revenue increase of 68.2% year-over-year, amounting to $503.22 million, and earnings per share of $0.63, exceeding analysts' expectations.
• The company declared a quarterly dividend of $0.165 per share, with a dividend yield of 0.7%, scheduled for payment on September 4th.

Northwestern Mutual Wealth Management Co. raised its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 26.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,467 shares of the company's stock after purchasing an additional 5,797 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Wheaton Precious Metals were worth $2,132,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Wheaton Precious Metals by 1.8% in the first quarter. Vanguard Group Inc. now owns 17,996,858 shares of the company's stock worth $1,396,556,000 after buying an additional 324,340 shares during the period. Royal Bank of Canada raised its holdings in shares of Wheaton Precious Metals by 5.0% in the fourth quarter. Royal Bank of Canada now owns 9,424,930 shares of the company's stock worth $530,057,000 after buying an additional 447,702 shares during the period. TD Asset Management Inc raised its holdings in shares of Wheaton Precious Metals by 5.0% in the first quarter. TD Asset Management Inc now owns 7,512,351 shares of the company's stock worth $582,876,000 after buying an additional 355,533 shares during the period. Mackenzie Financial Corp raised its holdings in shares of Wheaton Precious Metals by 54.4% in the fourth quarter. Mackenzie Financial Corp now owns 3,223,154 shares of the company's stock worth $181,227,000 after buying an additional 1,135,699 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Wheaton Precious Metals by 5.0% in the first quarter. JPMorgan Chase & Co. now owns 3,060,056 shares of the company's stock worth $237,552,000 after buying an additional 144,782 shares during the period. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Up 1.1%

Shares of Wheaton Precious Metals stock traded up $1.14 during trading on Tuesday, reaching $101.56. The company's stock had a trading volume of 3,258,419 shares, compared to its average volume of 1,850,379. The company has a market cap of $46.10 billion, a price-to-earnings ratio of 58.71, a P/E/G ratio of 2.77 and a beta of 0.42. Wheaton Precious Metals Corp. has a 1-year low of $55.47 and a 1-year high of $103.81. The company has a 50-day simple moving average of $93.18 and a two-hundred day simple moving average of $84.43.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.05. The firm had revenue of $503.22 million during the quarter, compared to analysts' expectations of $424.23 million. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.The business's quarterly revenue was up 68.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.33 EPS. As a group, analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.66 dividend on an annualized basis and a yield of 0.6%. Wheaton Precious Metals's payout ratio is currently 38.15%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on WPM shares. Royal Bank Of Canada increased their price target on Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Scotiabank raised their price objective on Wheaton Precious Metals from $108.00 to $109.00 and gave the stock a "sector perform" rating in a report on Tuesday, August 12th. CIBC restated an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, July 15th. Berenberg Bank raised their price objective on Wheaton Precious Metals from $87.00 to $95.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Finally, UBS Group set a $106.00 price objective on Wheaton Precious Metals and gave the stock a "neutral" rating in a report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $97.33.

About Wheaton Precious Metals

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.