Intact Investment Management Inc. cut its holdings in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 23.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 68,430 shares of the company's stock after selling 20,720 shares during the quarter. Intact Investment Management Inc.'s holdings in Wheaton Precious Metals were worth $4,180,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ridgewood Investments LLC bought a new stake in Wheaton Precious Metals during the second quarter valued at about $31,000. Abich Financial Wealth Management LLC acquired a new stake in Wheaton Precious Metals in the second quarter valued at approximately $31,000. St. Johns Investment Management Company LLC purchased a new position in Wheaton Precious Metals in the third quarter worth $48,000. Sunbelt Securities Inc. acquired a new position in shares of Wheaton Precious Metals during the second quarter worth $47,000. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of Wheaton Precious Metals by 25.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,231 shares of the company's stock valued at $65,000 after purchasing an additional 253 shares during the last quarter. 70.34% of the stock is currently owned by institutional investors.
Wheaton Precious Metals Stock Performance
Shares of WPM traded up $0.72 during trading hours on Tuesday, hitting $65.59. The stock had a trading volume of 1,037,047 shares, compared to its average volume of 1,764,292. The firm has a 50-day moving average price of $62.58 and a 200 day moving average price of $58.32. Wheaton Precious Metals Corp. has a fifty-two week low of $38.57 and a fifty-two week high of $68.64. The firm has a market capitalization of $29.75 billion, a price-to-earnings ratio of 51.93, a PEG ratio of 2.37 and a beta of 0.77.
Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The firm had revenue of $299.06 million during the quarter, compared to analyst estimates of $309.54 million. During the same quarter in the previous year, the business earned $0.31 EPS. Wheaton Precious Metals's revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, analysts predict that Wheaton Precious Metals Corp. will post 1.44 EPS for the current fiscal year.
Wheaton Precious Metals Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.95%. Wheaton Precious Metals's dividend payout ratio (DPR) is 49.21%.
Analyst Ratings Changes
A number of research analysts have issued reports on the stock. TD Securities cut their price target 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. National Bank Financial raised Wheaton Precious Metals from a "sector perform" rating to an "outperform" rating in a research report on Thursday, October 10th. Raymond James lifted their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. Stifel Canada lowered Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a report on Monday, October 21st. Finally, Jefferies Financial Group increased their price target on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a "buy" rating in a report on Friday, October 4th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $70.25.
Check Out Our Latest Analysis on WPM
Wheaton Precious Metals Profile
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Free Report)
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.
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