Swiss Life Asset Management Ltd Raises Holdings in Wheaton Precious Metals Corp. $WPM

Key Points

• Swiss Life Asset Management increased its stake in Wheaton Precious Metals by 13.5% in the fourth quarter, buying 9,147 more shares and bringing its total to 77,022 shares worth about $9.05 million.
• Wheaton Precious Metals reported strong quarterly results, with EPS of $1.28 beating estimates and revenue of $901.47 million, up 91.7% from a year earlier.
• The company also announced a quarterly dividend of $0.195 per share, while analysts currently maintain a Moderate Buy consensus with an average price target of $155.45.

Swiss Life Asset Management Ltd grew its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 13.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,022 shares of the company's stock after purchasing an additional 9,147 shares during the period. Swiss Life Asset Management Ltd's holdings in Wheaton Precious Metals were worth $9,054,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in WPM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Wheaton Precious Metals by 36.2% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,955,810 shares of the company's stock valued at $777,938,000 after purchasing an additional 1,847,977 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Wheaton Precious Metals by 53.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 4,197,048 shares of the company's stock valued at $469,459,000 after purchasing an additional 1,453,572 shares in the last quarter. Bank of Montreal Can grew its position in shares of Wheaton Precious Metals by 26.1% during the third quarter. Bank of Montreal Can now owns 6,455,675 shares of the company's stock valued at $722,270,000 after purchasing an additional 1,335,588 shares in the last quarter. Qube Research & Technologies Ltd grew its position in shares of Wheaton Precious Metals by 1,655.4% during the third quarter. Qube Research & Technologies Ltd now owns 1,245,766 shares of the company's stock valued at $139,333,000 after purchasing an additional 1,174,799 shares in the last quarter. Finally, Capital Research Global Investors grew its position in shares of Wheaton Precious Metals by 158.1% during the third quarter. Capital Research Global Investors now owns 1,458,898 shares of the company's stock valued at $163,224,000 after purchasing an additional 893,733 shares in the last quarter. Hedge funds and other institutional investors own 70.34% of the company's stock.

Wheaton Precious Metals Trading Down 0.7%

Shares of NYSE:WPM opened at $142.82 on Wednesday. Wheaton Precious Metals Corp. has a 12 month low of $75.42 and a 12 month high of $165.76. The company has a 50-day moving average price of $137.84 and a 200 day moving average price of $127.78. The company has a market cap of $64.86 billion, a price-to-earnings ratio of 36.07, a PEG ratio of 2.77 and a beta of 0.50.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $1.28 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $901.47 million during the quarter, compared to the consensus estimate of $868.35 million. During the same quarter last year, the firm earned $0.55 EPS. The firm's revenue for the quarter was up 91.7% compared to the same quarter last year. As a group, equities analysts forecast that Wheaton Precious Metals Corp. will post 4.88 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders 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 yield of 0.5%. Wheaton Precious Metals's dividend payout ratio (DPR) is presently 19.70%.

Analysts Set New Price Targets

WPM has been the subject of a number of research analyst reports. Scotiabank raised their price objective on Wheaton Precious Metals from $175.00 to $178.00 and gave the company a "sector outperform" rating in a research report on Monday, March 16th. BMO Capital Markets assumed coverage on shares of Wheaton Precious Metals in a report on Thursday, April 9th. They issued an "outperform" rating and a $240.00 price target for the company. TD Cowen increased their price target on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the company a "buy" rating in a report on Monday, March 16th. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a report on Wednesday, February 4th. Finally, Wall Street Zen downgraded shares of Wheaton Precious Metals from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 28th. Thirteen 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 an average target price of $155.45.

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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