1832 Asset Management L.P. Sells 20,204 Shares of Wheaton Precious Metals Corp. $WPM

Key Points

• 1832 Asset Management L.P. reduced its stake in Wheaton Precious Metals Corp. by 42.9%, selling 20,204 shares, leaving them with 26,849 shares valued at approximately $2.08 million.
• Wheaton Precious Metals reported a significant increase in quarterly revenue, posting $503.22 million, up 68.2% year-over-year, and earnings per share of $0.63, exceeding analysts' estimates.
• The company declared a quarterly dividend of $0.165, reflecting an annualized dividend yield of 0.7%, with a payout ratio of 38.15%.

1832 Asset Management L.P. trimmed its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 42.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,849 shares of the company's stock after selling 20,204 shares during the quarter. 1832 Asset Management L.P.'s holdings in Wheaton Precious Metals were worth $2,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Wheaton Precious Metals by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 17,996,858 shares of the company's stock valued at $1,396,556,000 after buying an additional 324,340 shares during the period. Royal Bank of Canada lifted its holdings in shares of Wheaton Precious Metals by 5.0% during the 4th quarter. Royal Bank of Canada now owns 9,424,930 shares of the company's stock valued at $530,057,000 after buying an additional 447,702 shares during the period. TD Asset Management Inc lifted its holdings in shares of Wheaton Precious Metals by 5.0% during the 1st quarter. TD Asset Management Inc now owns 7,512,351 shares of the company's stock valued at $582,876,000 after buying an additional 355,533 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Wheaton Precious Metals by 4.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,593,707 shares of the company's stock valued at $202,459,000 after buying an additional 137,477 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings in shares of Wheaton Precious Metals by 54.4% during the 4th quarter. Mackenzie Financial Corp now owns 3,223,154 shares of the company's stock valued at $181,227,000 after buying an additional 1,135,699 shares during the period. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Stock Down 0.0%

Shares of Wheaton Precious Metals stock opened at $95.55 on Tuesday. The firm has a market cap of $43.37 billion, a price-to-earnings ratio of 55.23, a PEG ratio of 2.65 and a beta of 0.39. The business has a 50-day moving average price of $92.42 and a 200-day moving average price of $83.37. Wheaton Precious Metals Corp. has a twelve month low of $55.47 and a twelve month high of $103.81.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.05. The firm had revenue of $503.22 million during the quarter, compared to analyst estimates of $424.23 million. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.The business's quarterly revenue was up 68.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.33 earnings per share. On average, equities 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 declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be issued a $0.165 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.7%. Wheaton Precious Metals's dividend payout ratio (DPR) is presently 38.15%.

Analysts Set New Price Targets

Several research firms have recently commented on WPM. National Bankshares restated an "outperform" rating on shares of Wheaton Precious Metals in a research note on Tuesday, June 24th. Royal Bank Of Canada upped their price objective on Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. Wall Street Zen upgraded Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research note on Saturday. Scotiabank upped their price objective on Wheaton Precious Metals from $108.00 to $109.00 and gave the stock a "sector perform" rating in a research note on Tuesday, August 12th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Wheaton Precious Metals in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $97.33.

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.

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