Nuveen LLC Buys New Shares in Wheaton Precious Metals Corp. (NYSE:WPM)

Key Points

• Nuveen LLC acquired a new stake in Wheaton Precious Metals Corp., purchasing 475,393 shares valued at approximately $36.9 million, representing 0.10% of the total outstanding shares.
• Wheaton Precious Metals reported a 68.2% increase in revenue year-over-year, with a net margin of 47.46% and an earnings per share (EPS) of $0.63, beating analyst estimates.
• The company declared a quarterly dividend of $0.165 per share, with a projected annual yield of 0.7%, set to be paid on September 4th.

Nuveen LLC bought a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 475,393 shares of the company's stock, valued at approximately $36,885,000. Nuveen LLC owned approximately 0.10% of Wheaton Precious Metals as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of WPM. Envestnet Asset Management Inc. lifted its stake in shares of Wheaton Precious Metals by 10.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 69,139 shares of the company's stock valued at $3,888,000 after buying an additional 6,783 shares in the last quarter. Cerity Partners LLC lifted its stake in Wheaton Precious Metals by 11.1% in the 4th quarter. Cerity Partners LLC now owns 19,213 shares of the company's stock worth $1,102,000 after purchasing an additional 1,923 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Wheaton Precious Metals in the 4th quarter worth $20,790,000. Rockefeller Capital Management L.P. lifted its stake in Wheaton Precious Metals by 8.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 35,604 shares of the company's stock worth $2,002,000 after purchasing an additional 2,640 shares in the last quarter. Finally, Barclays PLC lifted its stake in Wheaton Precious Metals by 152.9% in the 4th quarter. Barclays PLC now owns 798,853 shares of the company's stock worth $44,928,000 after purchasing an additional 482,939 shares in the last quarter. Hedge funds and other institutional investors own 70.34% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on WPM. Scotiabank boosted their price target on shares of Wheaton Precious Metals from $108.00 to $109.00 and gave the stock a "sector outperform" rating in a research note on Tuesday. National Bankshares reiterated an "outperform" rating on shares of Wheaton Precious Metals in a research note on Tuesday, June 24th. UBS Group set a $106.00 price target on shares of Wheaton Precious Metals and gave the stock a "neutral" rating in a research note on Monday, August 11th. Royal Bank Of Canada boosted their price target on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. Finally, CIBC restated an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, July 15th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $97.33.

Wheaton Precious Metals Price Performance

Wheaton Precious Metals stock opened at $94.28 on Friday. The company has a market cap of $42.80 billion, a PE ratio of 54.50, a price-to-earnings-growth ratio of 2.62 and a beta of 0.39. Wheaton Precious Metals Corp. has a twelve month low of $55.47 and a twelve month high of $103.81. The company's 50-day moving average price is $91.95 and its 200-day moving average price is $81.87.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. The company had revenue of $503.22 million for the quarter, compared to the consensus estimate of $424.23 million. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. The firm's revenue was up 68.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.33 EPS. As a group, sell-side analysts expect that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.7%. The ex-dividend date is Thursday, August 21st. Wheaton Precious Metals's dividend payout ratio is presently 38.15%.

Wheaton Precious Metals Company Profile

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.

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