Intact Investment Management Inc. Sells 20,720 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Intact Investment Management Inc. lessened its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 23.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 68,430 shares of the company’s stock after selling 20,720 shares during the quarter. Intact Investment Management Inc.’s holdings in Wheaton Precious Metals were worth $4,180,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of WPM. TD Asset Management Inc boosted its position in shares of Wheaton Precious Metals by 71.2% in the first quarter. TD Asset Management Inc now owns 4,857,837 shares of the company’s stock valued at $229,026,000 after acquiring an additional 2,019,722 shares during the period. Canoe Financial LP bought a new stake in shares of Wheaton Precious Metals in the third quarter valued at about $113,017,000. AMF Tjanstepension AB boosted its position in shares of Wheaton Precious Metals by 593.5% in the second quarter. AMF Tjanstepension AB now owns 1,608,134 shares of the company’s stock valued at $84,388,000 after acquiring an additional 1,376,231 shares during the period. Barings LLC acquired a new position in Wheaton Precious Metals in the second quarter valued at about $65,405,000. Finally, Price T Rowe Associates Inc. MD raised its stake in Wheaton Precious Metals by 16.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,309,175 shares of the company’s stock valued at $344,483,000 after purchasing an additional 1,010,307 shares in the last quarter. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Down 0.4 %

Shares of WPM opened at $64.87 on Tuesday. Wheaton Precious Metals Corp. has a 12-month low of $38.57 and a 12-month high of $68.64. The business’s fifty day moving average is $62.53 and its 200 day moving average is $58.23. The stock has a market cap of $29.43 billion, a P/E ratio of 51.48, a P/E/G ratio of 2.37 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, topping 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 company had revenue of $299.06 million for the quarter, compared to analysts’ expectations of $309.54 million. During the same period last year, the business earned $0.31 EPS. Wheaton Precious Metals’s quarterly revenue was up 12.9% compared to the same quarter last year. On average, analysts expect that Wheaton Precious Metals Corp. will post 1.44 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 0.96%. The ex-dividend date was Wednesday, August 21st. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 49.21%.

Analyst Ratings Changes

A number of research firms recently commented on WPM. Jefferies Financial Group boosted their price target on Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, October 4th. CIBC boosted their price target 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 boosted their price target on Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. National Bank Financial raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Finally, TD Securities lowered their target price on Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Wheaton Precious Metals has an average rating of “Moderate Buy” and an average price target of $70.25.

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.