Acadian Asset Management LLC Makes New Investment in Wheaton Precious Metals Corp. (NYSE:WPM)

Acadian Asset Management LLC purchased a new position in Wheaton Precious Metals Corp. (NYSE:WPM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,140 shares of the company’s stock, valued at approximately $1,159,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Norges Bank bought a new stake in Wheaton Precious Metals in the fourth quarter valued at $387,481,000. TD Asset Management Inc raised its position in shares of Wheaton Precious Metals by 71.2% in the 1st quarter. TD Asset Management Inc now owns 4,857,837 shares of the company’s stock worth $229,026,000 after purchasing an additional 2,019,722 shares during the last quarter. AMF Tjanstepension AB raised its position in Wheaton Precious Metals by 593.5% in the 2nd quarter. AMF Tjanstepension AB now owns 1,608,134 shares of the company’s stock worth $84,388,000 after buying an additional 1,376,231 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Wheaton Precious Metals by 31.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,672,800 shares of the company’s stock worth $272,975,000 after buying an additional 1,342,264 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Wheaton Precious Metals by 16.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,309,175 shares of the company’s stock worth $344,483,000 after buying an additional 1,010,307 shares during the last quarter. 70.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. CIBC boosted their price objective on Wheaton Precious Metals from $75.00 to $80.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Scotiabank raised their price target on Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. BMO Capital Markets increased their target price on Wheaton Precious Metals from $59.00 to $61.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 21st. Jefferies Financial Group increased their target price on Wheaton Precious Metals from $62.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Finally, Berenberg Bank raised their price target on Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.50.

Wheaton Precious Metals Trading Up 1.9 %

NYSE WPM opened at $62.56 on Monday. Wheaton Precious Metals Corp. has a twelve month low of $38.37 and a twelve month high of $63.13. The stock has a fifty day simple moving average of $59.31 and a 200-day simple moving average of $54.17. The stock has a market cap of $28.38 billion, a PE ratio of 48.12, a P/E/G ratio of 2.26 and a beta of 0.78.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The business had revenue of $299.06 million during the quarter, compared to analysts’ expectations of $309.54 million. During the same period in the previous year, the firm posted $0.31 earnings per share. The company’s revenue was up 12.9% on a year-over-year basis. Research analysts predict that Wheaton Precious Metals Corp. will post 1.4 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were paid a dividend of $0.155 per share. The ex-dividend date was Wednesday, August 21st. This represents a $0.62 annualized dividend and a yield of 0.99%. Wheaton Precious Metals’s payout ratio is 47.69%.

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.