Northwest & Ethical Investments L.P. Sells 15,757 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Northwest & Ethical Investments L.P. decreased its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 16.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 80,027 shares of the company's stock after selling 15,757 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Wheaton Precious Metals were worth $4,888,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in WPM. Blueshift Asset Management LLC bought a new stake in shares of Wheaton Precious Metals in the 3rd quarter worth $321,000. FMR LLC grew its holdings in shares of Wheaton Precious Metals by 33.7% in the third quarter. FMR LLC now owns 14,665,913 shares of the company's stock valued at $895,723,000 after acquiring an additional 3,692,594 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Wheaton Precious Metals by 22.5% during the third quarter. The Manufacturers Life Insurance Company now owns 3,456,230 shares of the company's stock valued at $211,207,000 after acquiring an additional 634,843 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Wheaton Precious Metals during the third quarter worth $1,287,000. Finally, Pekin Hardy Strauss Inc. boosted its position in Wheaton Precious Metals by 6.6% in the third quarter. Pekin Hardy Strauss Inc. now owns 14,496 shares of the company's stock worth $885,000 after purchasing an additional 901 shares during the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Stock Performance

NYSE:WPM traded up $0.59 during mid-day trading on Friday, reaching $62.33. The stock had a trading volume of 354,729 shares, compared to its average volume of 1,785,437. The stock has a market capitalization of $28.28 billion, a P/E ratio of 46.51, a P/E/G ratio of 1.73 and a beta of 0.77. Wheaton Precious Metals Corp. has a one year low of $38.57 and a one year high of $68.64. The firm has a 50 day moving average price of $62.99 and a two-hundred day moving average price of $59.32.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its earnings results on Friday, November 8th. The company reported $0.34 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 company had revenue of $308.25 million for the quarter, compared to analyst estimates of $324.57 million. During the same quarter last year, the firm earned $0.27 EPS. Research analysts forecast that Wheaton Precious Metals Corp. will post 1.44 earnings per share for the current 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 given a dividend of $0.155 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.62 annualized dividend and a yield of 0.99%. Wheaton Precious Metals's payout ratio is 46.27%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on WPM shares. Raymond James raised their target price on Wheaton Precious Metals from $74.00 to $75.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. UBS Group started coverage on shares of Wheaton Precious Metals in a research note on Monday, November 18th. They issued a "buy" rating and a $78.00 target price on the stock. Scotiabank raised their price target on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a "sector outperform" rating in a research note on Monday, August 19th. National Bank Financial upgraded Wheaton Precious Metals from a "sector perform" rating to an "outperform" rating in a research note on Thursday, October 10th. Finally, Jefferies Financial Group lifted their price objective on Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a "buy" rating in a report on Friday, October 4th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Wheaton Precious Metals presently has a consensus rating of "Moderate Buy" and an average target price of $71.67.

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.