Man Group plc Increases Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Man Group plc increased its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 36.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 513,792 shares of the company's stock after purchasing an additional 137,771 shares during the period. Man Group plc owned approximately 0.11% of Wheaton Precious Metals worth $28,896,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Wheaton Precious Metals during the 4th quarter worth $472,648,000. Capital International Investors bought a new stake in Wheaton Precious Metals during the 4th quarter worth $263,810,000. Arrowstreet Capital Limited Partnership bought a new stake in Wheaton Precious Metals during the 4th quarter worth $72,657,000. Van ECK Associates Corp lifted its holdings in Wheaton Precious Metals by 6.4% during the 4th quarter. Van ECK Associates Corp now owns 20,534,104 shares of the company's stock worth $1,154,843,000 after buying an additional 1,231,999 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in Wheaton Precious Metals by 1,321.7% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,221,522 shares of the company's stock worth $68,720,000 after buying an additional 1,135,603 shares during the period. 70.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on WPM. BMO Capital Markets began coverage on Wheaton Precious Metals in a report on Wednesday, April 16th. They set an "outperform" rating and a $129.00 target price on the stock. StockNews.com raised Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Scotiabank boosted their price objective on Wheaton Precious Metals from $79.00 to $87.00 and gave the company a "sector outperform" rating in a research note on Monday, April 14th. CIBC boosted their price objective on Wheaton Precious Metals from $95.00 to $105.00 and gave the company an "outperformer" rating in a research note on Friday, May 9th. Finally, Royal Bank of Canada boosted their price objective on Wheaton Precious Metals from $75.00 to $80.00 and gave the company a "sector perform" rating in a research note on Friday, April 4th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $85.90.

Wheaton Precious Metals Stock Up 2.4%

Wheaton Precious Metals stock traded up $1.89 during trading on Monday, hitting $80.39. The stock had a trading volume of 1,383,407 shares, compared to its average volume of 1,673,589. Wheaton Precious Metals Corp. has a 1 year low of $51.96 and a 1 year high of $87.42. The stock's 50 day moving average is $78.69 and its two-hundred day moving average is $68.14. The stock has a market cap of $36.48 billion, a price-to-earnings ratio of 59.99, a price-to-earnings-growth ratio of 1.91 and a beta of 0.49.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.05. The company had revenue of $470.41 million for the quarter, compared to the consensus estimate of $446.33 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The firm's revenue was up 58.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 earnings per share. As a group, equities research analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $0.66 annualized dividend and a dividend yield of 0.82%. Wheaton Precious Metals's payout ratio is 48.53%.

Wheaton Precious Metals Company 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.