1,808,726 Shares in Wheaton Precious Metals Corp. (NYSE:WPM) Bought by Canoe Financial LP

Canoe Financial LP bought a new position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,808,726 shares of the company's stock, valued at approximately $113,017,000. Wheaton Precious Metals comprises 2.7% of Canoe Financial LP's investment portfolio, making the stock its 13th largest position. Canoe Financial LP owned about 0.40% of Wheaton Precious Metals as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of WPM. AdvisorNet Financial Inc raised its position in Wheaton Precious Metals by 6.1% in the 2nd quarter. AdvisorNet Financial Inc now owns 3,330 shares of the company's stock worth $175,000 after buying an additional 190 shares during the last quarter. Vontobel Holding Ltd. lifted its holdings in Wheaton Precious Metals by 0.6% in the third quarter. Vontobel Holding Ltd. now owns 34,558 shares of the company's stock valued at $2,110,000 after acquiring an additional 197 shares during the period. Capital International Inc. CA boosted its position in Wheaton Precious Metals by 2.5% in the first quarter. Capital International Inc. CA now owns 8,308 shares of the company's stock worth $392,000 after purchasing an additional 204 shares during the last quarter. Arkadios Wealth Advisors grew its stake in shares of Wheaton Precious Metals by 1.0% during the 3rd quarter. Arkadios Wealth Advisors now owns 21,575 shares of the company's stock valued at $1,318,000 after purchasing an additional 210 shares during the period. Finally, Western Pacific Wealth Management LP increased its position in shares of Wheaton Precious Metals by 19.6% during the 1st quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company's stock valued at $63,000 after purchasing an additional 218 shares during the last quarter. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Stifel Canada downgraded Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 21st. TD Securities decreased their target price on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a "buy" rating on the stock in a research note on Thursday, August 15th. Scotiabank increased their price objective 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. Jefferies Financial Group lifted their target price on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a "buy" rating in a research note on Friday, October 4th. Finally, National Bank Financial raised Wheaton Precious Metals from a "sector perform" rating to an "outperform" rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $70.25.

Wheaton Precious Metals Trading Up 0.5 %

WPM stock traded up $0.32 during trading on Monday, reaching $66.45. 1,369,618 shares of the stock were exchanged, compared to its average volume of 1,757,441. The business has a 50 day moving average price of $62.13 and a 200-day moving average price of $57.81. Wheaton Precious Metals Corp. has a 1 year low of $38.57 and a 1 year high of $68.64. The firm has a market capitalization of $30.14 billion, a price-to-earnings ratio of 51.12, a P/E/G ratio of 2.41 and a beta of 0.78.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.04. The business had revenue of $299.06 million for the quarter, compared to analyst estimates of $309.54 million. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The company's revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.31 earnings per share. On average, research analysts anticipate that Wheaton Precious Metals Corp. will post 1.44 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were given a dividend of $0.155 per share. The ex-dividend date was Wednesday, August 21st. This represents a $0.62 annualized dividend and a dividend yield of 0.93%. Wheaton Precious Metals's payout ratio is currently 47.69%.

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.