Wheaton Precious Metals Corp. $WPM Holdings Lifted by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management increased its Wheaton Precious Metals stake by 4.8% in the fourth quarter, bringing its holdings to 828,214 shares valued at about $97.3 million.
• Wheaton Precious Metals reported strong quarterly results, with EPS of $1.28 beating estimates and revenue of $901.47 million, up 91.7% year over year.
• The company also declared a quarterly dividend of $0.195 per share, while analysts remain largely bullish with 13 Buy ratings and a consensus Moderate Buy rating.

Jupiter Asset Management Ltd. grew its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 4.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 828,214 shares of the company's stock after buying an additional 38,301 shares during the period. Wheaton Precious Metals accounts for about 0.8% of Jupiter Asset Management Ltd.'s investment portfolio, making the stock its 29th biggest holding. Jupiter Asset Management Ltd. owned 0.18% of Wheaton Precious Metals worth $97,332,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Moors & Cabot Inc. raised its stake in Wheaton Precious Metals by 2.2% during the 4th quarter. Moors & Cabot Inc. now owns 28,816 shares of the company's stock valued at $3,386,000 after acquiring an additional 620 shares in the last quarter. Intech Investment Management LLC grew its stake in shares of Wheaton Precious Metals by 5.1% in the fourth quarter. Intech Investment Management LLC now owns 113,958 shares of the company's stock worth $13,415,000 after purchasing an additional 5,575 shares in the last quarter. Foundations Investment Advisors LLC increased its holdings in shares of Wheaton Precious Metals by 25.9% during the fourth quarter. Foundations Investment Advisors LLC now owns 4,774 shares of the company's stock valued at $561,000 after purchasing an additional 983 shares during the period. Huntington National Bank raised its stake in shares of Wheaton Precious Metals by 2.0% during the fourth quarter. Huntington National Bank now owns 7,537 shares of the company's stock valued at $886,000 after purchasing an additional 149 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Wheaton Precious Metals by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 4,518,140 shares of the company's stock valued at $545,019,000 after purchasing an additional 304,881 shares in the last quarter. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Price Performance

WPM stock opened at $130.30 on Friday. The firm has a market cap of $59.17 billion, a PE ratio of 32.90, a P/E/G ratio of 2.40 and a beta of 0.50. Wheaton Precious Metals Corp. has a 12 month low of $85.59 and a 12 month high of $165.76. The firm has a 50 day simple moving average of $133.54 and a 200 day simple moving average of $130.60.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.04. The company had revenue of $901.47 million for the quarter, compared to analysts' expectations of $868.35 million. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.The firm's revenue was up 91.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 earnings per share. As a group, sell-side analysts expect that Wheaton Precious Metals Corp. will post 4.98 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Investors 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 dividend on an annualized basis and a yield of 0.6%. Wheaton Precious Metals's dividend payout ratio (DPR) is currently 19.70%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Wheaton Precious Metals in a research report on Wednesday, February 4th. UBS Group upgraded shares of Wheaton Precious Metals from a "neutral" rating to a "buy" rating and set a $160.00 price objective for the company in a report on Friday, March 27th. Zacks Research lowered shares of Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 5th. TD Securities increased their price target on Wheaton Precious Metals from $164.00 to $165.00 and gave the company a "buy" rating in a research note on Monday, March 16th. Finally, TD Cowen boosted their price objective on Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a "buy" rating in a research note on Monday, March 16th. Thirteen equities 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 currently has a consensus rating of "Moderate Buy" and a consensus price target of $155.64.

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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