Northwest & Ethical Investments L.P. Sells 15,757 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Northwest & Ethical Investments L.P. cut its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 16.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,027 shares of the company’s stock after selling 15,757 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Wheaton Precious Metals were worth $4,888,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of WPM. Van ECK Associates Corp boosted its position in shares of Wheaton Precious Metals by 1.0% during the second quarter. Van ECK Associates Corp now owns 19,984,984 shares of the company’s stock worth $1,047,621,000 after purchasing an additional 197,426 shares in the last quarter. FMR LLC raised its position in shares of Wheaton Precious Metals by 33.7% during 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 period. TD Asset Management Inc lifted its holdings in shares of Wheaton Precious Metals by 22.5% during the 2nd quarter. TD Asset Management Inc now owns 5,950,317 shares of the company’s stock valued at $311,920,000 after purchasing an additional 1,092,480 shares in the last quarter. Cibc World Market Inc. lifted its holdings in shares of Wheaton Precious Metals by 3.1% during the 2nd quarter. Cibc World Market Inc. now owns 3,574,648 shares of the company’s stock valued at $187,490,000 after purchasing an additional 108,976 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Wheaton Precious Metals by 22.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,456,230 shares of the company’s stock valued at $211,207,000 after purchasing an additional 634,843 shares during the period. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on WPM shares. Scotiabank increased their price objective on Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Jefferies Financial Group increased their target price 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. Stifel Canada cut shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. UBS Group started coverage on Wheaton Precious Metals in a report on Monday, November 18th. They issued a “buy” rating and a $78.00 price objective for the company. Finally, TD Securities upped their target price on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Wheaton Precious Metals currently has an average rating of “Moderate Buy” and an average target price of $71.67.

Wheaton Precious Metals Trading Down 0.5 %

WPM opened at $61.74 on Friday. The stock’s fifty day simple moving average is $63.00 and its 200 day simple moving average is $59.31. Wheaton Precious Metals Corp. has a 1-year low of $38.57 and a 1-year high of $68.64. The stock has a market cap of $28.01 billion, a PE ratio of 46.07, a price-to-earnings-growth ratio of 1.73 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, meeting the consensus estimate of $0.34. The company had revenue of $308.25 million for the quarter, compared to analyst estimates of $324.57 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. During the same period in the prior year, the firm earned $0.27 earnings per share. Equities analysts forecast that Wheaton Precious Metals Corp. will post 1.44 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Thursday, November 21st will be paid a $0.155 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.62 annualized dividend and a yield of 1.00%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 46.27%.

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.