Connor Clark & Lunn Investment Management Ltd. Sells 1,303,528 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Connor Clark & Lunn Investment Management Ltd. cut its holdings in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 35.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,406,091 shares of the company's stock after selling 1,303,528 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.53% of Wheaton Precious Metals worth $146,933,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Van ECK Associates Corp boosted its position in shares of Wheaton Precious Metals by 1.0% during the second quarter. Van ECK Associates Corp now owns 19,984,984 shares of the company's stock valued at $1,047,621,000 after purchasing an additional 197,426 shares in the last quarter. Vanguard Group Inc. raised its holdings in Wheaton Precious Metals by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 16,770,475 shares of the company's stock valued at $790,392,000 after buying an additional 272,918 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings 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. TD Asset Management Inc raised its stake in shares of Wheaton Precious Metals by 22.5% during the 2nd quarter. TD Asset Management Inc now owns 5,950,317 shares of the company's stock worth $311,920,000 after buying an additional 1,092,480 shares during the last quarter. Finally, Cibc World Market Inc. boosted its position in Wheaton Precious Metals by 3.1% in the 2nd quarter. Cibc World Market Inc. now owns 3,574,648 shares of the company's stock valued at $187,490,000 after buying an additional 108,976 shares during the last quarter. Institutional investors own 70.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on WPM shares. Stifel Canada lowered shares of Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 21st. Scotiabank upped their price target on 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. Jefferies Financial Group boosted their price objective 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. UBS Group began coverage on shares of Wheaton Precious Metals in a research note on Monday. They issued a "buy" rating and a $78.00 target price on the stock. Finally, Raymond James raised their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $71.67.

Wheaton Precious Metals Stock Up 0.6 %

WPM traded up $0.37 during trading on Wednesday, reaching $62.96. The company's stock had a trading volume of 1,138,892 shares, compared to its average volume of 1,771,572. The firm has a fifty day simple moving average of $62.87 and a two-hundred day simple moving average of $59.00. Wheaton Precious Metals Corp. has a 1 year low of $38.57 and a 1 year high of $68.64. The company has a market cap of $28.56 billion, a price-to-earnings ratio of 46.72, a PEG ratio of 2.14 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its quarterly earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.34. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The firm had revenue of $308.25 million for the quarter, compared to analysts' expectations of $324.57 million. During the same period in the prior year, the company posted $0.27 earnings per share. As a group, equities analysts forecast that Wheaton Precious Metals Corp. will post 1.44 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

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

About Wheaton Precious Metals

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.