The Manufacturers Life Insurance Company Has $147.76 Million Stock Position in Wheaton Precious Metals Corp. (NYSE:WPM)

The Manufacturers Life Insurance Company reduced its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 5.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,821,387 shares of the company’s stock after selling 176,309 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Wheaton Precious Metals were worth $147,758,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WPM. Ridgewood Investments LLC acquired a new position in Wheaton Precious Metals in the second quarter worth approximately $31,000. Abich Financial Wealth Management LLC bought a new stake in Wheaton Precious Metals in the second quarter worth approximately $31,000. St. Johns Investment Management Company LLC acquired a new position in shares of Wheaton Precious Metals during the 1st quarter worth $52,000. Western Pacific Wealth Management LP lifted its stake in shares of Wheaton Precious Metals by 19.6% in the 1st quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock valued at $63,000 after purchasing an additional 218 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its stake in shares of Wheaton Precious Metals by 25.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,231 shares of the company’s stock valued at $65,000 after purchasing an additional 253 shares during the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Performance

NYSE WPM opened at $62.45 on Friday. Wheaton Precious Metals Corp. has a twelve month low of $38.37 and a twelve month high of $64.82. The stock has a market cap of $28.33 billion, a PE ratio of 48.04, a PEG ratio of 2.31 and a beta of 0.78. The firm has a 50-day simple moving average of $59.98 and a 200 day simple moving average of $55.36.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $299.06 million for the quarter, compared to analysts’ expectations of $309.54 million. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. Wheaton Precious Metals’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.31 earnings per share. Research analysts forecast that Wheaton Precious Metals Corp. will post 1.42 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. TD Securities cut their target price on Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. CIBC boosted their target price on Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Scotiabank increased their price target on Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Raymond James boosted their price objective on shares of Wheaton Precious Metals from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Bank of America raised their target price on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $68.63.

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.