Jupiter Asset Management Ltd. Increases Position in Wheaton Precious Metals Corp. $WPM

Jupiter Asset Management Ltd. increased its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 12.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 669,281 shares of the company’s stock after purchasing an additional 74,913 shares during the quarter. Jupiter Asset Management Ltd. owned approximately 0.15% of Wheaton Precious Metals worth $60,101,000 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. Vanguard Group Inc. increased its stake in shares of Wheaton Precious Metals by 1.8% in the first quarter. Vanguard Group Inc. now owns 17,996,858 shares of the company’s stock worth $1,396,556,000 after buying an additional 324,340 shares during the last quarter. TD Asset Management Inc grew its stake in shares of Wheaton Precious Metals by 5.0% in the 1st quarter. TD Asset Management Inc now owns 7,512,351 shares of the company’s stock worth $582,876,000 after purchasing an additional 355,533 shares during the last quarter. Bank of Montreal Can raised its holdings in Wheaton Precious Metals by 10.3% during the 2nd quarter. Bank of Montreal Can now owns 5,120,087 shares of the company’s stock worth $460,736,000 after buying an additional 478,236 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Wheaton Precious Metals by 10.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,072,786 shares of the company’s stock worth $393,800,000 after acquiring an additional 470,651 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Wheaton Precious Metals by 5.0% during the 1st quarter. JPMorgan Chase & Co. now owns 3,060,056 shares of the company’s stock valued at $237,552,000 after acquiring an additional 144,782 shares in the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Up 1.8%

WPM opened at $104.13 on Wednesday. The stock has a market cap of $47.28 billion, a price-to-earnings ratio of 60.19, a PEG ratio of 1.67 and a beta of 0.38. The business has a 50 day moving average of $104.11 and a 200-day moving average of $95.00. Wheaton Precious Metals Corp. has a 12-month low of $55.47 and a 12-month high of $114.36.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Thursday, November 6th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. The company had revenue of $476.26 million during the quarter, compared to analysts’ expectations of $495.53 million. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. Wheaton Precious Metals’s quarterly revenue was up 54.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.34 earnings per share. As a group, analysts expect that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, November 20th will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Thursday, November 20th. Wheaton Precious Metals’s dividend payout ratio (DPR) is 30.00%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Berenberg Bank raised their price objective on Wheaton Precious Metals from $102.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, September 12th. BMO Capital Markets reissued an “outperform” rating on shares of Wheaton Precious Metals in a research note on Friday, August 8th. Raymond James Financial boosted their target price on shares of Wheaton Precious Metals from $114.00 to $127.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. Scotiabank reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a report on Thursday, October 23rd. Finally, CIBC upped their price objective on Wheaton Precious Metals from $135.00 to $160.00 and gave the stock an “outperformer” rating in a report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $124.50.

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.