Bank of Nova Scotia Sells 755,172 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Bank of Nova Scotia lessened its holdings in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 34.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,411,016 shares of the company's stock after selling 755,172 shares during the period. Bank of Nova Scotia owned about 0.31% of Wheaton Precious Metals worth $79,408,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Quantinno Capital Management LP raised its holdings in Wheaton Precious Metals by 18.0% in the 3rd quarter. Quantinno Capital Management LP now owns 13,147 shares of the company's stock valued at $803,000 after buying an additional 2,004 shares during the last quarter. Wellington Management Group LLP raised its position in Wheaton Precious Metals by 42.7% during the 3rd quarter. Wellington Management Group LLP now owns 133,627 shares of the company's stock worth $8,170,000 after purchasing an additional 39,979 shares during the last quarter. MML Investors Services LLC lifted its holdings in Wheaton Precious Metals by 8.8% during the 3rd quarter. MML Investors Services LLC now owns 8,285 shares of the company's stock worth $506,000 after buying an additional 669 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Wheaton Precious Metals in the 3rd quarter valued at about $2,337,000. Finally, Continuum Advisory LLC grew its position in shares of Wheaton Precious Metals by 585.2% in the 3rd quarter. Continuum Advisory LLC now owns 1,672 shares of the company's stock valued at $99,000 after buying an additional 1,428 shares during the last quarter. Institutional investors and hedge funds own 70.34% of the company's stock.

Wheaton Precious Metals Price Performance

Shares of WPM traded up $0.87 during trading hours on Monday, hitting $83.00. The stock had a trading volume of 1,095,325 shares, compared to its average volume of 1,776,356. Wheaton Precious Metals Corp. has a 1-year low of $49.71 and a 1-year high of $83.63. The firm has a market capitalization of $37.66 billion, a P/E ratio of 61.94, a price-to-earnings-growth ratio of 1.91 and a beta of 0.74. The firm has a 50 day simple moving average of $71.92 and a 200-day simple moving average of $64.86.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its quarterly earnings data on Thursday, March 13th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01). Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The firm had revenue of $380.52 million for the quarter, compared to the consensus estimate of $395.74 million. During the same quarter in the prior year, the firm earned $0.36 EPS. The company's revenue was up 21.4% compared to the same quarter last year. Equities analysts predict that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st were paid a $0.165 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This is an increase from Wheaton Precious Metals's previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a dividend yield of 0.80%. Wheaton Precious Metals's dividend payout ratio is 56.90%.

Analysts Set New Price Targets

WPM has been the topic of several analyst reports. Stifel Canada upgraded Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 4th. Scotiabank upped their price objective on shares of Wheaton Precious Metals from $79.00 to $87.00 and gave the company a "sector outperform" rating in a research note on Monday. UBS Group increased their price objective on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a "buy" rating in a research report on Friday. Raymond James boosted their target price on shares of Wheaton Precious Metals from $75.00 to $88.00 and gave the company an "outperform" rating in a report on Friday, April 4th. Finally, Royal Bank of Canada increased their price target on Wheaton Precious Metals from $75.00 to $80.00 and gave the stock a "sector perform" rating in a report on Friday, April 4th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $76.40.

Wheaton Precious Metals 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.