Wellington Management Group LLP Acquires 3,917 Shares of Wheaton Precious Metals Corp. $WPM

Key Points

• Wellington Management Group LLP increased its stake in Wheaton Precious Metals by 4.4%, owning 92,075 shares valued at approximately $7.14 million.
• Wheaton Precious Metals reported a 68.2% revenue increase year-over-year, with a quarterly revenue of $503.22 million and an earnings per share (EPS) of $0.63.
• The company will pay a quarterly dividend of $0.165, translating to an annualized yield of 0.7%, with an upcoming ex-dividend date of August 21st.

Wellington Management Group LLP grew its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 4.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 92,075 shares of the company's stock after acquiring an additional 3,917 shares during the quarter. Wellington Management Group LLP's holdings in Wheaton Precious Metals were worth $7,144,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Cerity Partners LLC boosted its holdings in shares of Wheaton Precious Metals by 5.5% during the 1st quarter. Cerity Partners LLC now owns 20,271 shares of the company's stock valued at $1,574,000 after acquiring an additional 1,058 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Wheaton Precious Metals by 37.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,109 shares of the company's stock worth $630,000 after buying an additional 2,208 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in Wheaton Precious Metals by 5.8% during the first quarter. Sequoia Financial Advisors LLC now owns 5,392 shares of the company's stock valued at $419,000 after buying an additional 297 shares during the period. Dynamic Advisor Solutions LLC purchased a new stake in Wheaton Precious Metals during the first quarter valued at approximately $531,000. Finally, Principal Financial Group Inc. raised its position in Wheaton Precious Metals by 34.6% in the first quarter. Principal Financial Group Inc. now owns 25,244 shares of the company's stock worth $1,959,000 after acquiring an additional 6,486 shares during the period. Hedge funds and other institutional investors own 70.34% of the company's stock.

Wheaton Precious Metals Stock Up 3.3%

NYSE:WPM traded up $3.20 during trading hours on Friday, hitting $100.43. 2,018,814 shares of the stock traded hands, compared to its average volume of 1,901,380. Wheaton Precious Metals Corp. has a 1 year low of $55.47 and a 1 year high of $103.81. The company has a market cap of $45.59 billion, a price-to-earnings ratio of 58.05, a price-to-earnings-growth ratio of 2.77 and a beta of 0.42. The stock has a 50 day moving average price of $92.98 and a 200 day moving average price of $84.20.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings results 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 net margin of 47.46% and a return on equity of 11.96%. The business had revenue of $503.22 million for the quarter, compared to the consensus estimate of $424.23 million. During the same quarter in the previous year, the firm earned $0.33 earnings per share. The company's revenue for the quarter was up 68.2% on a year-over-year basis. Equities analysts forecast that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on WPM. Royal Bank Of Canada increased their price target on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. BMO Capital Markets reiterated an "outperform" rating on shares of Wheaton Precious Metals in a research report on Friday, August 8th. UBS Group set a $106.00 price target on shares of Wheaton Precious Metals and gave the stock a "neutral" rating in a research report on Monday, August 11th. National Bankshares reiterated an "outperform" rating on shares of Wheaton Precious Metals in a research report on Tuesday, June 24th. Finally, CIBC reiterated an "outperform" rating on shares of Wheaton Precious Metals in a research report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $97.33.

Wheaton Precious Metals Profile

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.