Montrusco Bolton Investments Inc. Lowers Stock Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Montrusco Bolton Investments Inc. lowered its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 62.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 295,308 shares of the company’s stock after selling 488,298 shares during the period. Montrusco Bolton Investments Inc.’s holdings in Wheaton Precious Metals were worth $18,056,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Icon Wealth Advisors LLC acquired a new stake in Wheaton Precious Metals in the third quarter valued at about $116,000. Telemark Asset Management LLC acquired a new stake in Wheaton Precious Metals in the third quarter valued at about $3,665,000. Citigroup Inc. lifted its position in Wheaton Precious Metals by 10.3% in the third quarter. Citigroup Inc. now owns 550,642 shares of the company’s stock valued at $33,667,000 after purchasing an additional 51,635 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Wheaton Precious Metals by 4.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 955,540 shares of the company’s stock valued at $58,422,000 after purchasing an additional 36,970 shares during the period. Finally, King Luther Capital Management Corp lifted its position in Wheaton Precious Metals by 48.1% in the third quarter. King Luther Capital Management Corp now owns 1,501,037 shares of the company’s stock valued at $91,683,000 after purchasing an additional 487,190 shares during the period. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on WPM shares. Scotiabank raised their price objective on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. 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. Raymond James lifted their price target 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. TD Securities lifted their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, UBS Group began coverage on shares of Wheaton Precious Metals in a research report on Monday, November 18th. They set a “buy” rating and a $78.00 price target for the company. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.67.

Wheaton Precious Metals Price Performance

Shares of WPM opened at $63.82 on Friday. The firm has a 50 day simple moving average of $62.99 and a 200-day simple moving average of $59.06. Wheaton Precious Metals Corp. has a 1-year low of $38.57 and a 1-year high of $68.64. The stock has a market cap of $28.95 billion, a price-to-earnings ratio of 47.63, a price-to-earnings-growth ratio of 2.32 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $324.57 million. During the same period last year, the company posted $0.27 EPS. On average, 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 announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 21st will be paid a $0.155 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.62 annualized dividend and a yield of 0.97%. Wheaton Precious Metals’s payout ratio is currently 46.27%.

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.