The Manufacturers Life Insurance Company Acquires 634,843 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

The Manufacturers Life Insurance Company lifted its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 22.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,456,230 shares of the company’s stock after purchasing an additional 634,843 shares during the quarter. The Manufacturers Life Insurance Company owned 0.76% of Wheaton Precious Metals worth $211,207,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in WPM. Canoe Financial LP bought a new position in shares of Wheaton Precious Metals during the third quarter worth approximately $113,017,000. AMF Tjanstepension AB boosted its position in shares of Wheaton Precious Metals by 593.5% during the 2nd quarter. AMF Tjanstepension AB now owns 1,608,134 shares of the company’s stock worth $84,388,000 after acquiring an additional 1,376,231 shares in the last quarter. Barings LLC acquired a new stake in shares of Wheaton Precious Metals during the 2nd quarter worth approximately $65,405,000. TD Asset Management Inc boosted its position in shares of Wheaton Precious Metals by 22.5% during the 2nd quarter. TD Asset Management Inc now owns 5,950,317 shares of the company’s stock worth $311,920,000 after acquiring an additional 1,092,480 shares in the last quarter. Finally, King Luther Capital Management Corp boosted its position in shares of Wheaton Precious Metals by 196.1% during the 2nd quarter. King Luther Capital Management Corp now owns 1,013,847 shares of the company’s stock worth $53,146,000 after acquiring an additional 671,432 shares in the last quarter. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Stock Up 1.8 %

Shares of NYSE WPM opened at $62.06 on Wednesday. The firm has a fifty day simple moving average of $62.99 and a 200 day simple moving average of $59.24. The company has a market capitalization of $28.15 billion, a PE ratio of 46.31, a P/E/G ratio of 2.23 and a beta of 0.77. Wheaton Precious Metals Corp. has a twelve month low of $38.57 and a twelve month high of $68.64.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, hitting the consensus estimate of $0.34. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The business had revenue of $308.25 million for the quarter, compared to analysts’ expectations of $324.57 million. During the same period in the previous year, the company earned $0.27 earnings per share. As a group, equities analysts expect that Wheaton Precious Metals Corp. will post 1.44 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 Friday, December 6th. Investors of record on Thursday, November 21st will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Thursday, November 21st. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 46.27%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Scotiabank increased their price target on shares of 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. Raymond James raised their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. National Bank Financial upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Jefferies Financial Group raised their target price on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Finally, Stifel Canada lowered shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Wheaton Precious Metals currently has a consensus rating of “Moderate Buy” and an average price target of $71.67.

About Wheaton Precious Metals

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.