Intact Investment Management Inc. Decreases Stake in Wheaton Precious Metals Corp. (NYSE:WPM)

Intact Investment Management Inc. reduced its position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 10.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 61,600 shares of the company's stock after selling 6,830 shares during the quarter. Intact Investment Management Inc.'s holdings in Wheaton Precious Metals were worth $3,467,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Fielder Capital Group LLC raised its stake in Wheaton Precious Metals by 0.7% in the 4th quarter. Fielder Capital Group LLC now owns 24,701 shares of the company's stock valued at $1,389,000 after purchasing an additional 176 shares during the last quarter. Merit Financial Group LLC raised its stake in Wheaton Precious Metals by 3.9% in the 4th quarter. Merit Financial Group LLC now owns 4,818 shares of the company's stock valued at $271,000 after purchasing an additional 179 shares during the last quarter. Insigneo Advisory Services LLC increased its stake in shares of Wheaton Precious Metals by 2.2% in the 3rd quarter. Insigneo Advisory Services LLC now owns 8,553 shares of the company's stock worth $522,000 after acquiring an additional 187 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Wheaton Precious Metals by 1.0% in the 3rd quarter. Principal Financial Group Inc. now owns 19,761 shares of the company's stock worth $1,208,000 after acquiring an additional 196 shares during the last quarter. Finally, Pacer Advisors Inc. increased its stake in shares of Wheaton Precious Metals by 5.7% in the 4th quarter. Pacer Advisors Inc. now owns 4,027 shares of the company's stock worth $226,000 after acquiring an additional 216 shares during the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of brokerages have issued reports on WPM. Scotiabank raised their target price on Wheaton Precious Metals from $78.00 to $79.00 and gave the stock a "sector outperform" rating in a research note on Monday. Stifel Canada raised Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 4th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Wheaton Precious Metals has a consensus rating of "Buy" and an average target price of $72.44.

Wheaton Precious Metals Price Performance

Shares of NYSE:WPM traded up $0.75 during midday trading on Wednesday, reaching $76.28. 1,396,063 shares of the company's stock were exchanged, compared to its average volume of 1,578,779. The firm's 50 day simple moving average is $65.49 and its two-hundred day simple moving average is $62.89. The stock has a market cap of $34.61 billion, a price-to-earnings ratio of 56.93, a P/E/G ratio of 1.91 and a beta of 0.76. Wheaton Precious Metals Corp. has a fifty-two week low of $43.18 and a fifty-two week high of $77.44.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its earnings results on Thursday, March 13th. The company reported $0.44 EPS for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $395.74 million. During the same quarter last year, the business earned $0.36 earnings per share. The business's revenue was up 21.4% compared to the same quarter last year. Equities research analysts predict that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.87%. This is a boost from Wheaton Precious Metals's previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, April 1st. Wheaton Precious Metals's dividend payout ratio (DPR) is 49.25%.

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.