The Manufacturers Life Insurance Company Has $251.89 Million Stock Position in Wheaton Precious Metals Corp. $WPM

Key Points

• The Manufacturers Life Insurance Company reduced its stake in Wheaton Precious Metals Corp. by 10.1% in Q1, lowering its holdings to approximately 3.23 million shares valued at about $251.89 million.
• Wheaton Precious Metals reported earnings of $0.63 per share for the last quarter, exceeding analysts' estimates of $0.58, with revenues up 68.2% year-over-year to $503.22 million.
• The company has declared a quarterly dividend of $0.165 per share, with an annualized yield of 0.7% and a payout ratio of 38.15%.

The Manufacturers Life Insurance Company cut its stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 10.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,232,156 shares of the company's stock after selling 361,551 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.71% of Wheaton Precious Metals worth $251,892,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NBT Bank N A NY boosted its stake in Wheaton Precious Metals by 129.3% in the 1st quarter. NBT Bank N A NY now owns 415 shares of the company's stock worth $32,000 after purchasing an additional 234 shares during the period. Wealth Preservation Advisors LLC acquired a new position in Wheaton Precious Metals in the 1st quarter worth $38,000. Banque Cantonale Vaudoise acquired a new position in Wheaton Precious Metals in the 1st quarter worth $49,000. Princeton Global Asset Management LLC bought a new stake in Wheaton Precious Metals during the 1st quarter worth about $52,000. Finally, Penserra Capital Management LLC lifted its position in Wheaton Precious Metals by 1,812.8% during the 1st quarter. Penserra Capital Management LLC now owns 746 shares of the company's stock worth $57,000 after buying an additional 707 shares in the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Stock Performance

Shares of WPM opened at $97.16 on Friday. The firm's 50-day simple moving average is $92.76 and its 200 day simple moving average is $83.75. Wheaton Precious Metals Corp. has a 52 week low of $55.47 and a 52 week high of $103.81. The firm has a market cap of $44.10 billion, a P/E ratio of 56.16, a price-to-earnings-growth ratio of 2.66 and a beta of 0.39.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.05. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. The firm had revenue of $503.22 million for the quarter, compared to analyst estimates of $424.23 million. During the same quarter in the prior year, the business posted $0.33 EPS. The business's revenue was up 68.2% compared to the same quarter last year. As a group, equities analysts forecast 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. Investors of record on Thursday, August 21st will be given a dividend of $0.165 per share. The ex-dividend date is Thursday, August 21st. This represents a $0.66 annualized dividend and a dividend yield of 0.7%. Wheaton Precious Metals's dividend payout ratio (DPR) is currently 38.15%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. CIBC reissued an "outperform" rating on shares of Wheaton Precious Metals in a research report on Tuesday, July 15th. BMO Capital Markets reissued an "outperform" rating on shares of Wheaton Precious Metals in a research report on Friday, August 8th. Scotiabank upped their target price on shares of Wheaton Precious Metals from $108.00 to $109.00 and gave the company a "sector perform" rating in a report on Tuesday, August 12th. National Bankshares reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, June 24th. Finally, Berenberg Bank upped their target price on shares of Wheaton Precious Metals from $87.00 to $95.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus 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.

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