Sei Investments Co. Has $26.98 Million Holdings in Wheaton Precious Metals Corp. $WPM

Key Points

• Sei Investments increased its Wheaton Precious Metals stake by 45.2% in the first quarter, reaching 205,919 shares valued at approximately $26.98 million. Institutional investors collectively own 70.34% of WPM.
• Analysts remain broadly positive, with 12 Buy ratings and one Hold rating, producing a consensus “Moderate Buy” rating and a $161.09 price target, despite several recent target reductions.
• Wheaton reported stronger-than-expected quarterly results, including $1.28 in EPS and $901.47 million in revenue, while revenue increased 91.7% year over year. The company also maintains a quarterly dividend of $0.195, or $0.78 annually.

Sei Investments Co. increased its stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 45.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 205,919 shares of the company's stock after purchasing an additional 64,079 shares during the period. Sei Investments Co.'s holdings in Wheaton Precious Metals were worth $26,978,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in WPM. Norges Bank bought a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at about $864,977,000. Arrowstreet Capital Limited Partnership raised its position in Wheaton Precious Metals by 40.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,912,588 shares of the company's stock valued at $694,951,000 after buying an additional 1,715,540 shares during the last quarter. Van ECK Associates Corp lifted its stake 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 acquiring an additional 1,402,092 shares in the last quarter. Qube Research & Technologies Ltd lifted its stake in Wheaton Precious Metals by 1,655.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,245,766 shares of the company's stock valued at $139,333,000 after acquiring an additional 1,174,799 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in Wheaton Precious Metals by 2,621.8% during the 4th quarter. AQR Capital Management LLC now owns 903,678 shares of the company's stock worth $106,239,000 after acquiring an additional 870,476 shares during the last quarter. Institutional investors own 70.34% of the company's stock.

Wall Street Analysts Forecast Growth

WPM has been the subject of several research reports. Scotiabank decreased their price target on shares of Wheaton Precious Metals from $180.00 to $175.00 and set a "sector outperform" rating for the company in a research note on Tuesday, July 14th. UBS Group reduced their target price on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a "buy" rating for the company in a report on Tuesday, June 30th. BMO Capital Markets initiated coverage on shares of Wheaton Precious Metals in a research report on Thursday, April 9th. They issued an "outperform" rating and a $240.00 target price for the company. Royal Bank Of Canada cut their price target on shares of Wheaton Precious Metals from $165.00 to $160.00 and set an "outperform" rating on the stock in a research report on Thursday, July 9th. Finally, Weiss Ratings downgraded shares of Wheaton Precious Metals from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, July 16th. Twelve research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $161.09.

Wheaton Precious Metals Trading Up 0.4%

WPM stock opened at $111.91 on Tuesday. Wheaton Precious Metals Corp. has a 1-year low of $90.39 and a 1-year high of $165.76. The firm has a market capitalization of $50.83 billion, a PE ratio of 28.26, a PEG ratio of 2.01 and a beta of 0.55. The business's 50 day simple moving average is $117.15 and its 200 day simple moving average is $131.63.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.24 by $0.04. The business had revenue of $901.47 million during the quarter, compared to the consensus estimate of $868.35 million. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. Wheaton Precious Metals's revenue was up 91.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.55 EPS. As a group, sell-side analysts predict that Wheaton Precious Metals Corp. will post 4.73 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th were given a $0.195 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.78 annualized dividend and a dividend yield of 0.7%. Wheaton Precious Metals's dividend payout ratio is presently 19.70%.

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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