PCJ Investment Counsel Ltd. Cuts Stake in Wheaton Precious Metals Corp. $WPM

PCJ Investment Counsel Ltd. decreased its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 22.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,430 shares of the company’s stock after selling 8,100 shares during the period. PCJ Investment Counsel Ltd.’s holdings in Wheaton Precious Metals were worth $2,558,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Cerity Partners LLC grew its position in Wheaton Precious Metals by 5.5% during the first quarter. Cerity Partners LLC now owns 20,271 shares of the company’s stock valued at $1,574,000 after acquiring an additional 1,058 shares during the period. B.O.S.S. Retirement Advisors LLC acquired a new position in shares of Wheaton Precious Metals in the 2nd quarter valued at about $218,000. Voya Investment Management LLC grew its holdings in shares of Wheaton Precious Metals by 18.0% during the 1st quarter. Voya Investment Management LLC now owns 747,477 shares of the company’s stock worth $58,026,000 after purchasing an additional 113,835 shares during the period. LGT Fund Management Co Ltd. acquired a new stake in Wheaton Precious Metals during the 2nd quarter worth approximately $225,000. Finally, Guardian Partners Inc. purchased a new position in Wheaton Precious Metals in the first quarter valued at approximately $538,000. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Analysts Set New Price Targets

WPM has been the subject of a number of recent research reports. Berenberg Bank increased their target price on Wheaton Precious Metals from $102.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Wall Street Zen raised shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research report on Monday, September 8th. CIBC lifted their price objective on shares of Wheaton Precious Metals from $135.00 to $160.00 and gave the company an “outperformer” rating in a research note on Friday, October 10th. Scotiabank restated an “outperform” rating on shares of Wheaton Precious Metals in a research note on Thursday, October 23rd. Finally, UBS Group raised their price target on shares of Wheaton Precious Metals from $118.00 to $122.00 and gave the company a “neutral” rating in a report on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $124.50.

Wheaton Precious Metals Stock Up 2.9%

Shares of WPM stock opened at $99.05 on Friday. The company has a market cap of $44.97 billion, a P/E ratio of 57.25, a PEG ratio of 1.67 and a beta of 0.38. The business has a 50 day moving average of $104.02 and a two-hundred day moving average of $94.53. Wheaton Precious Metals Corp. has a 52 week low of $55.47 and a 52 week high of $114.36.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.03. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. The company had revenue of $476.26 million during the quarter, compared to the consensus estimate of $495.53 million. During the same quarter in the previous year, the company posted $0.34 earnings per share. The company’s revenue for the quarter was up 54.5% compared to the same quarter last year. Analysts expect that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Thursday, November 20th will be paid a $0.165 dividend. The ex-dividend date of this dividend is Thursday, November 20th. This represents a $0.66 annualized dividend and a dividend yield of 0.7%. Wheaton Precious Metals’s payout ratio is currently 38.15%.

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.