The Manufacturers Life Insurance Company Has $251.89 Million Stock Holdings in Wheaton Precious Metals Corp. $WPM

The Manufacturers Life Insurance Company decreased its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 10.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,232,156 shares of the company’s stock after selling 361,551 shares during the period. The Manufacturers Life Insurance Company’s holdings in Wheaton Precious Metals were worth $251,892,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WPM. Mackenzie Financial Corp lifted its stake in Wheaton Precious Metals by 54.4% in the 4th quarter. Mackenzie Financial Corp now owns 3,223,154 shares of the company’s stock valued at $181,227,000 after purchasing an additional 1,135,699 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in Wheaton Precious Metals by 1,321.7% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,221,522 shares of the company’s stock valued at $68,720,000 after purchasing an additional 1,135,603 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in Wheaton Precious Metals by 57.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,097,735 shares of the company’s stock valued at $162,811,000 after purchasing an additional 766,947 shares during the last quarter. Perpetual Ltd bought a new position in shares of Wheaton Precious Metals during the first quarter valued at $50,430,000. Finally, BLI Banque de Luxembourg Investments bought a new position in shares of Wheaton Precious Metals during the fourth quarter valued at $36,127,000. Institutional investors own 70.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. BMO Capital Markets reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a research note on Friday, August 8th. National Bankshares reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a research note on Tuesday, June 24th. UBS Group set a $106.00 price target on shares of Wheaton Precious Metals and gave the company a “neutral” rating in a research note on Monday, August 11th. Royal Bank Of Canada raised their price target on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the company a “sector perform” rating in a research note on Wednesday, June 4th. Finally, Wall Street Zen raised shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research note on Saturday, August 23rd. One equities research 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 data from MarketBeat.com, Wheaton Precious Metals presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.33.

Wheaton Precious Metals Price Performance

NYSE:WPM opened at $97.16 on Friday. The firm has a 50-day moving average of $92.76 and a 200-day moving average of $83.75. The company has a market cap of $44.10 billion, a PE ratio of 56.16, a PEG ratio of 2.66 and a beta of 0.39. Wheaton Precious Metals Corp. has a one year low of $55.47 and a one year high of $103.81.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. The company had revenue of $503.22 million during the quarter, compared to the consensus estimate of $424.23 million. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. The firm’s revenue for the quarter was up 68.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.33 earnings per share. On average, equities research analysts expect that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

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

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.