Aigen Investment Management LP Invests $521,000 in Wheaton Precious Metals Corp. $WPM

Aigen Investment Management LP acquired a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,434 shares of the company’s stock, valued at approximately $521,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Wheaton Precious Metals by 40.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,912,588 shares of the company’s stock worth $694,951,000 after acquiring an additional 1,715,540 shares during the period. Aptus Capital Advisors LLC bought a new position in shares of Wheaton Precious Metals during the 4th quarter worth about $247,000. Johnson Investment Counsel Inc. lifted its holdings in shares of Wheaton Precious Metals by 0.4% during the 4th quarter. Johnson Investment Counsel Inc. now owns 20,465 shares of the company’s stock worth $2,405,000 after acquiring an additional 75 shares during the period. PCM Encore LLC bought a new position in shares of Wheaton Precious Metals during the 4th quarter worth about $351,000. Finally, Quarry LP bought a new position in Wheaton Precious Metals during the 4th quarter valued at about $34,000. 70.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WPM. Scotiabank lifted their price target on shares of Wheaton Precious Metals from $178.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. BMO Capital Markets began coverage on shares of Wheaton Precious Metals in a report on Thursday, April 9th. They set an “outperform” rating and a $240.00 price target for the company. Wall Street Zen downgraded shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. TD Securities lifted their price target on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a report on Monday, March 16th. Finally, UBS Group raised shares of Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 price target for the company in a report on Friday, March 27th. Thirteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $155.64.

Wheaton Precious Metals Stock Up 6.7%

Shares of WPM stock opened at $123.82 on Tuesday. Wheaton Precious Metals Corp. has a 12-month low of $85.59 and a 12-month high of $165.76. The company has a market capitalization of $56.23 billion, a P/E ratio of 31.27, a P/E/G ratio of 2.19 and a beta of 0.51. The firm has a 50-day moving average price of $132.57 and a 200 day moving average price of $132.09.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.04. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The company had revenue of $901.47 million during the quarter, compared to the consensus estimate of $868.35 million. During the same period in the previous year, the firm posted $0.55 earnings per share. The company’s revenue was up 91.7% on a year-over-year basis. As a group, research analysts expect that Wheaton Precious Metals Corp. will post 4.98 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th were paid a $0.195 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.6%. Wheaton Precious Metals’s payout ratio is currently 19.70%.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.