Wheaton Precious Metals Corp. (NYSE:WPM) Position Reduced by Investment Management Corp of Ontario

Investment Management Corp of Ontario lowered its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 7.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 20,098 shares of the company’s stock after selling 1,700 shares during the period. Investment Management Corp of Ontario’s holdings in Wheaton Precious Metals were worth $1,228,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cetera Investment Advisers lifted its holdings in Wheaton Precious Metals by 80.1% during the 1st quarter. Cetera Investment Advisers now owns 37,250 shares of the company’s stock worth $1,756,000 after buying an additional 16,570 shares during the last quarter. Cetera Advisors LLC bought a new stake in Wheaton Precious Metals during the first quarter valued at $400,000. CWM LLC raised its holdings in shares of Wheaton Precious Metals by 10.7% during the second quarter. CWM LLC now owns 3,040 shares of the company’s stock worth $159,000 after purchasing an additional 295 shares during the period. Artemis Investment Management LLP bought a new position in shares of Wheaton Precious Metals in the 2nd quarter worth about $2,891,000. Finally, Dynamic Advisor Solutions LLC lifted its position in shares of Wheaton Precious Metals by 54.1% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 10,480 shares of the company’s stock worth $549,000 after buying an additional 3,680 shares during the last quarter. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Down 0.0 %

Shares of WPM opened at $62.95 on Friday. Wheaton Precious Metals Corp. has a 52-week low of $38.57 and a 52-week high of $68.64. The firm has a market capitalization of $28.56 billion, a PE ratio of 46.98, a P/E/G ratio of 1.77 and a beta of 0.75. The firm has a 50-day moving average price of $62.92 and a 200 day moving average price of $59.56.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.34. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The firm had revenue of $308.25 million during the quarter, compared to analyst estimates 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 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 21st will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 0.98%. The ex-dividend date is Thursday, November 21st. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 46.27%.

Wall Street Analyst Weigh In

WPM has been the topic of several research reports. Stifel Canada lowered shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. National Bank Financial raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Raymond James upped their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. TD Securities raised their target price on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, UBS Group assumed 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 equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and a consensus price target of $71.67.

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.