Wheaton Precious Metals Corp. $WPM Stock: TD Waterhouse Canada Inc. Lowers Position

TD Waterhouse Canada Inc. decreased its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 2.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,269,982 shares of the company’s stock after selling 28,375 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Wheaton Precious Metals were worth $167,486,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Van ECK Associates Corp lifted its stake in Wheaton Precious Metals by 0.5% in the 2nd quarter. Van ECK Associates Corp now owns 14,411,000 shares of the company’s stock worth $1,619,480,000 after acquiring an additional 78,618 shares in the last quarter. BlackRock Inc. purchased a new position in Wheaton Precious Metals during the 2nd quarter valued at about $581,250,000. Canada Pension Plan Investment Board purchased a new position in Wheaton Precious Metals during the 2nd quarter valued at about $351,708,000. Bank of America Corp DE acquired a new position in shares of Wheaton Precious Metals in the 2nd quarter valued at about $328,309,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Wheaton Precious Metals by 3.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 2,870,587 shares of the company’s stock valued at $376,387,000 after purchasing an additional 92,435 shares during the period. 70.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WPM. Royal Bank Of Canada increased their price target on shares of Wheaton Precious Metals from $160.00 to $165.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 16th. Bank of America lowered their price objective on shares of Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Berenberg Bank set a $157.00 price objective on shares of Wheaton Precious Metals in a research note on Tuesday, July 28th. Weiss Ratings upgraded shares of Wheaton Precious Metals from a “buy (b)” rating to a “buy (b+)” rating in a research report on Friday, October 9th. Finally, UBS Group increased their target price on shares of Wheaton Precious Metals from $153.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, October 8th. Ten research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $172.11.

Wheaton Precious Metals Stock Up 0.7%

WPM traded up $0.97 during trading on Friday, reaching $134.13. 1,323,002 shares of the stock traded hands, compared to its average volume of 1,719,081. The stock’s 50-day simple moving average is $144.51 and its two-hundred day simple moving average is $131.63. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.47 and a quick ratio of 0.47. Wheaton Precious Metals Corp. has a fifty-two week low of $92.57 and a fifty-two week high of $165.76. The stock has a market cap of $60.92 billion, a price-to-earnings ratio of 29.74, a price-to-earnings-growth ratio of 2.43 and a beta of 0.54.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Thursday, August 6th. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. The company had revenue of $878.00 million during the quarter, compared to the consensus estimate of $879.29 million. Wheaton Precious Metals had a return on equity of 21.97% and a net margin of 64.66%. The business’s quarterly revenue was up 84.7% on a year-over-year basis. During the same period last year, the business earned $0.63 EPS. As a group, equities research analysts expect that Wheaton Precious Metals Corp. will post 4.80 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th were paid a $0.1950 dividend. The ex-dividend date was Thursday, August 20th. This represents a $0.78 dividend on an annualized basis and a yield of 0.6%. Wheaton Precious Metals’s payout ratio is 17.29%.

About Wheaton Precious Metals

Wheaton Precious Metals Corp. is a precious metals streaming company headquartered in Vancouver, Canada. Rather than operating mines directly, the company provides mining companies with upfront financing in exchange for the right to purchase a portion of the gold, silver, palladium, cobalt and other metals produced by designated mining operations at predetermined prices.

Wheaton’s streaming portfolio is supported by agreements with mining operations in the Americas and other regions, including Canada, the United States, Mexico, Peru, Brazil and Chile.