Northwestern Mutual Wealth Management Co. Buys New Position in Wheaton Precious Metals Corp. $WPM

Key Points

• Northwestern Mutual Wealth Management bought 25,253 Wheaton Precious Metals shares worth approximately $2.84 million during the second quarter. Institutional investors collectively own 70.34% of WPM.
• Analysts remain broadly positive, with 12 Buy ratings and one Hold rating, producing a “Moderate Buy” consensus and an average price target of $165.55.
• Wheaton reported quarterly EPS of $1.19, beating estimates, while revenue rose 84.7% year over year to $878 million. The company also declared a quarterly dividend of $0.195 per share, representing a 0.5% annualized yield.

Northwestern Mutual Wealth Management Co. purchased a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 25,253 shares of the company's stock, valued at approximately $2,836,000.

Several other institutional investors also recently added to or reduced their stakes in WPM. Vanguard Group Inc. grew its position in shares of 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 acquiring an additional 289,939 shares during the last quarter. Van ECK Associates Corp raised its position in 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 valued at $1,700,517,000 after purchasing an additional 1,402,092 shares during the last quarter. Capital International Investors boosted its stake in 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 purchasing an additional 93,599 shares during the period. Norges Bank acquired a new stake in Wheaton Precious Metals during the 4th quarter worth $864,977,000. Finally, TD Asset Management Inc grew its position in 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 worth $857,598,000 after purchasing an additional 33,221 shares during the last quarter. Institutional investors and hedge funds own 70.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Royal Bank Of Canada dropped their price objective on shares of Wheaton Precious Metals from $165.00 to $160.00 and set an "outperform" rating on the stock in a research note on Thursday, July 9th. Scotiabank lowered their price target on Wheaton Precious Metals from $180.00 to $175.00 and set a "sector outperform" rating on the stock in a report on Tuesday, July 14th. UBS Group dropped their price target on Wheaton Precious Metals from $165.00 to $150.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. Berenberg Bank set a $157.00 price objective on Wheaton Precious Metals in a research note on Tuesday, July 28th. Finally, Wall Street Zen downgraded Wheaton Precious Metals from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $165.55.

Wheaton Precious Metals Stock Performance

Shares of WPM opened at $160.25 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a market capitalization of $72.78 billion, a P/E ratio of 35.53, a P/E/G ratio of 2.79 and a beta of 0.55. The company's fifty day moving average is $119.91 and its two-hundred day moving average is $130.64. Wheaton Precious Metals Corp. has a 1 year low of $92.57 and a 1 year high of $165.76.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.15 by $0.04. The company had revenue of $878.00 million during the quarter, compared to analysts' expectations of $879.29 million. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 21.97%. The business's revenue was up 84.7% on a year-over-year basis. During the same quarter last year, the business earned $0.63 EPS. On average, sell-side analysts predict that Wheaton Precious Metals Corp. will post 4.8 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 20th will be issued a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, August 20th. Wheaton Precious Metals's dividend payout ratio is currently 17.29%.

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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