Canoe Financial LP Trims Stake in Wheaton Precious Metals Corp. (NYSE:WPM)

Canoe Financial LP lowered its position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 1.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,772,043 shares of the company's stock after selling 21,979 shares during the quarter. Wheaton Precious Metals comprises about 2.2% of Canoe Financial LP's portfolio, making the stock its 18th largest position. Canoe Financial LP owned 0.39% of Wheaton Precious Metals worth $137,529,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in WPM. Promus Capital LLC purchased a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at $32,000. NBT Bank N A NY raised its stake in shares of Wheaton Precious Metals by 129.3% in the first quarter. NBT Bank N A NY now owns 415 shares of the company's stock valued at $32,000 after acquiring an additional 234 shares during the period. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Wheaton Precious Metals in the 4th quarter worth about $38,000. Quintet Private Bank Europe S.A. purchased a new position in Wheaton Precious Metals in the 4th quarter worth about $39,000. Finally, Headlands Technologies LLC increased its stake in Wheaton Precious Metals by 494.9% in the 4th quarter. Headlands Technologies LLC now owns 696 shares of the company's stock worth $39,000 after buying an additional 579 shares during the period. Hedge funds and other institutional investors own 70.34% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. CIBC raised their price target on shares of Wheaton Precious Metals from $95.00 to $105.00 and gave the stock an "outperformer" rating in a research note on Friday, May 9th. Raymond James Financial raised their price target on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 15th. UBS Group raised their price target on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. BMO Capital Markets assumed coverage on shares of Wheaton Precious Metals in a research note on Wednesday, April 16th. They issued an "outperform" rating and a $129.00 price target on the stock. Finally, Wall Street Zen raised shares of Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $86.90.

Wheaton Precious Metals Price Performance

Shares of Wheaton Precious Metals stock opened at $89.29 on Friday. Wheaton Precious Metals Corp. has a 1 year low of $51.96 and a 1 year high of $95.23. The stock has a market cap of $40.52 billion, a price-to-earnings ratio of 65.66, a PEG ratio of 2.84 and a beta of 0.46. The firm's 50-day moving average is $85.33 and its two-hundred day moving average is $72.57.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.05. Wheaton Precious Metals had a net margin of 42.45% and a return on equity of 10.32%. The business had revenue of $470.41 million for the quarter, compared to analysts' expectations of $446.33 million. During the same period last year, the business earned $0.36 EPS. The company's revenue was up 58.4% compared to the same quarter last year. On average, equities analysts expect that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend was Wednesday, May 28th. Wheaton Precious Metals's dividend payout ratio is currently 48.53%.

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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