Man Group plc Grows Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Man Group plc raised its holdings in 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 SEC. The fund owned 513,792 shares of the company's stock after purchasing an additional 137,771 shares during the quarter. Man Group plc owned approximately 0.11% of Wheaton Precious Metals worth $28,896,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in WPM. Van ECK Associates Corp grew its stake in shares of Wheaton Precious Metals by 6.4% during the fourth quarter. Van ECK Associates Corp now owns 20,534,104 shares of the company's stock worth $1,154,843,000 after purchasing an additional 1,231,999 shares during the period. Vanguard Group Inc. raised its holdings in shares of Wheaton Precious Metals by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 17,672,518 shares of the company's stock valued at $994,733,000 after purchasing an additional 281,123 shares during the period. FMR LLC increased its holdings in shares of Wheaton Precious Metals by 5.9% during the 4th quarter. FMR LLC now owns 15,529,219 shares of the company's stock worth $873,995,000 after acquiring an additional 863,306 shares during the last quarter. Norges Bank bought a new stake in shares of Wheaton Precious Metals during the 4th quarter worth about $472,648,000. Finally, TD Asset Management Inc. increased its stake in shares of Wheaton Precious Metals by 9.6% during the fourth quarter. TD Asset Management Inc. now owns 7,156,818 shares of the company's stock worth $402,627,000 after purchasing an additional 629,743 shares during the period. Institutional investors own 70.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. CIBC boosted their price target 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. Raymond James upped their target price on Wheaton Precious Metals from $88.00 to $90.00 and gave the company an "outperform" rating in a report on Tuesday, April 15th. Royal Bank of Canada raised their target price on Wheaton Precious Metals from $75.00 to $80.00 and gave the stock a "sector perform" rating in a research note on Friday, April 4th. Scotiabank boosted their price target on shares of 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. Finally, StockNews.com upgraded Wheaton Precious Metals from a "hold" rating to a "buy" rating in a report on Monday, May 12th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $85.90.

Wheaton Precious Metals Stock Performance

Shares of WPM stock traded up $2.23 on Wednesday, hitting $85.21. 990,179 shares of the company's stock traded hands, compared to its average volume of 1,669,943. The stock has a market capitalization of $38.67 billion, a price-to-earnings ratio of 63.52, a P/E/G ratio of 1.91 and a beta of 0.49. The company's fifty day simple moving average is $79.07 and its 200 day simple moving average is $68.35. Wheaton Precious Metals Corp. has a one year low of $51.96 and a one year high of $87.42.

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

Wheaton Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Wednesday, May 28th. Wheaton Precious Metals's dividend payout ratio (DPR) is presently 48.53%.

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.