TD Asset Management Inc. Buys 629,743 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

TD Asset Management Inc. boosted its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 9.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,156,818 shares of the company's stock after acquiring an additional 629,743 shares during the quarter. TD Asset Management Inc. owned 1.58% of Wheaton Precious Metals worth $402,627,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WPM. FMR LLC grew its stake 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 worth $895,723,000 after purchasing an additional 3,692,594 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Wheaton Precious Metals by 6.4% in the 4th quarter. Van ECK Associates Corp now owns 20,534,104 shares of the company's stock valued at $1,154,843,000 after buying an additional 1,231,999 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Wheaton Precious Metals by 1,865.2% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,245,534 shares of the company's stock valued at $76,061,000 after buying an additional 1,182,156 shares during the period. The Manufacturers Life Insurance Company raised 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 worth $211,207,000 after acquiring an additional 634,843 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in shares of Wheaton Precious Metals by 21.3% in the third quarter. National Bank of Canada FI now owns 2,923,402 shares of the company's stock worth $178,551,000 after acquiring an additional 513,890 shares during the period. 70.34% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

WPM has been the subject of a number of recent analyst reports. Scotiabank increased their target price on shares of Wheaton Precious Metals from $78.00 to $79.00 and gave the company a "sector outperform" rating in a research report on Monday, March 17th. Stifel Canada raised shares of Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 4th. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $72.44.

Wheaton Precious Metals Stock Up 0.3 %

WPM traded up $0.24 during midday trading on Friday, hitting $76.86. The company had a trading volume of 2,242,598 shares, compared to its average volume of 1,647,236. The company has a market capitalization of $34.87 billion, a price-to-earnings ratio of 57.36, a PEG ratio of 1.91 and a beta of 0.77. The stock's 50 day moving average price is $68.44 and its 200 day moving average price is $63.78. Wheaton Precious Metals Corp. has a 52 week low of $47.02 and a 52 week high of $77.86.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued 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 during the quarter, compared to the consensus estimate of $395.74 million. During the same period in the previous year, the firm earned $0.36 earnings per share. The business's quarterly revenue was up 21.4% on a year-over-year basis. Research analysts predict that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be given a $0.165 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $0.66 annualized dividend and a yield of 0.86%. This is an increase from Wheaton Precious Metals's previous quarterly dividend of $0.16. Wheaton Precious Metals's dividend payout ratio (DPR) is presently 56.90%.

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.