Canoe Financial LP Has $100.91 Million Stock Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Canoe Financial LP cut its holdings in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,794,022 shares of the company's stock after selling 14,704 shares during the quarter. Wheaton Precious Metals comprises about 1.5% of Canoe Financial LP's investment portfolio, making the stock its 26th biggest holding. Canoe Financial LP owned 0.40% of Wheaton Precious Metals worth $100,911,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of WPM. Merit Financial Group LLC boosted its holdings in Wheaton Precious Metals by 3.9% during the fourth quarter. Merit Financial Group LLC now owns 4,818 shares of the company's stock worth $271,000 after buying an additional 179 shares in the last quarter. Avanza Fonder AB bought a new stake in shares of Wheaton Precious Metals during the 4th quarter worth $2,455,000. Decker Retirement Planning Inc. acquired a new position in shares of Wheaton Precious Metals in the 4th quarter worth $282,000. Laurel Wealth Advisors LLC acquired a new stake in shares of Wheaton Precious Metals during the fourth quarter worth $39,000. Finally, Miracle Mile Advisors LLC purchased a new stake in shares of Wheaton Precious Metals during the fourth quarter valued at $773,000. 70.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WPM. Stifel Canada cut Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 21st. National Bank Financial upgraded shares of Wheaton Precious Metals from a "sector perform" rating to an "outperform" rating in a report on Thursday, October 10th. TD Securities upped 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. Jefferies Financial Group lifted their price objective on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a "buy" rating in a research report on Friday, October 4th. Finally, Raymond James increased their target price on Wheaton Precious Metals from $74.00 to $75.00 and gave the company an "outperform" rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $71.67.

Wheaton Precious Metals Price Performance

Shares of WPM traded up $0.26 on Friday, reaching $57.74. 874,324 shares of the stock traded hands, compared to its average volume of 1,150,797. The firm has a market cap of $26.19 billion, a price-to-earnings ratio of 43.09, a P/E/G ratio of 1.28 and a beta of 0.76. Wheaton Precious Metals Corp. has a 12 month low of $38.57 and a 12 month high of $68.64. The stock's 50-day moving average price is $59.52 and its 200-day moving average price is $60.46.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its quarterly earnings data on Friday, November 8th. The company reported $0.34 EPS for the quarter, hitting analysts' consensus estimates of $0.34. The company had revenue of $308.25 million during the quarter, compared to the consensus estimate of $324.57 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. During the same period last year, the firm earned $0.27 EPS. As a group, equities research analysts forecast that Wheaton Precious Metals Corp. will post 1.45 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Thursday, November 21st were paid a $0.155 dividend. The ex-dividend date was Thursday, November 21st. This represents a $0.62 annualized dividend and a dividend yield of 1.07%. Wheaton Precious Metals's dividend 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.