Wheaton Precious Metals Corp. (NYSE:WPM) Shares Purchased by AGF Management Ltd.

Key Points

• AGF Management Ltd. increased its stake in Wheaton Precious Metals Corp. by 13.9%, acquiring an additional 16,550 shares for a total of 135,856 shares worth approximately $10.54 million.
• Wheaton Precious Metals reported a quarterly earnings per share of $0.63, surpassing expectations, and achieved revenue of $503.22 million, a growth of 68.2% year-over-year.
• The company has announced a quarterly dividend of $0.165 per share, representing an annualized yield of 0.7% with a payout ratio of 38.15%.

AGF Management Ltd. boosted its position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 13.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 135,856 shares of the company's stock after acquiring an additional 16,550 shares during the quarter. AGF Management Ltd.'s holdings in Wheaton Precious Metals were worth $10,542,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WPM. NBT Bank N A NY boosted its holdings in Wheaton Precious Metals by 129.3% in the first quarter. NBT Bank N A NY now owns 415 shares of the company's stock valued at $32,000 after acquiring an additional 234 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in Wheaton Precious Metals in the first quarter valued at about $49,000. Princeton Global Asset Management LLC purchased a new position in Wheaton Precious Metals in the first quarter valued at about $52,000. Penserra Capital Management LLC raised its position in Wheaton Precious Metals by 1,812.8% in the first quarter. Penserra Capital Management LLC now owns 746 shares of the company's stock valued at $57,000 after purchasing an additional 707 shares during the period. Finally, Whittier Trust Co. raised its position in Wheaton Precious Metals by 77.4% in the first quarter. Whittier Trust Co. now owns 763 shares of the company's stock valued at $59,000 after purchasing an additional 333 shares during the period. Institutional investors and hedge funds own 70.34% of the company's stock.

Wheaton Precious Metals Stock Down 3.3%

Shares of Wheaton Precious Metals stock opened at $97.40 on Tuesday. The firm has a market cap of $44.22 billion, a P/E ratio of 56.30, a P/E/G ratio of 2.81 and a beta of 0.39. Wheaton Precious Metals Corp. has a fifty-two week low of $55.47 and a fifty-two week high of $103.81. The business has a 50-day moving average price of $91.65 and a 200 day moving average price of $81.19.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.05. Wheaton Precious Metals had a return on equity of 12.12% and a net margin of 47.46%. The firm had revenue of $503.22 million during the quarter, compared to analyst estimates of $424.23 million. During the same period in the previous year, the company earned $0.33 earnings per share. Wheaton Precious Metals's quarterly revenue was up 68.2% on a year-over-year basis. As a group, equities research analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

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

Analyst Upgrades and Downgrades

WPM has been the topic of several research reports. CIBC reissued an "outperform" rating on shares of Wheaton Precious Metals in a research report on Tuesday, July 15th. Raymond James Financial raised their price objective on Wheaton Precious Metals from $88.00 to $90.00 and gave the company an "outperform" rating in a research report on Tuesday, April 15th. Scotiabank raised their price objective on Wheaton Precious Metals from $79.00 to $87.00 and gave the company a "sector outperform" rating in a research report on Monday, April 14th. Berenberg Bank lifted their target price on Wheaton Precious Metals from $87.00 to $95.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a research report on Tuesday, June 24th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Wheaton Precious Metals currently has a consensus rating of "Moderate Buy" and a consensus price target of $94.89.

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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