Wheaton Precious Metals Corp. (NYSE:WPM) Shares Sold by Canoe Financial LP

Canoe Financial LP cut its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 1.2% in the first quarter, according to the company in its most recent filing 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 makes up approximately 2.2% of Canoe Financial LP's holdings, making the stock its 18th biggest position. Canoe Financial LP owned about 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 also recently added to or reduced their stakes in WPM. Allworth Financial LP raised its stake in Wheaton Precious Metals by 411.9% during the 4th quarter. Allworth Financial LP now owns 5,554 shares of the company's stock valued at $328,000 after purchasing an additional 4,469 shares during the period. Kestra Investment Management LLC purchased a new position in shares of Wheaton Precious Metals in the fourth quarter worth $53,000. Private Advisor Group LLC boosted its position in shares of Wheaton Precious Metals by 2.9% during the fourth quarter. Private Advisor Group LLC now owns 78,880 shares of the company's stock worth $4,436,000 after acquiring an additional 2,258 shares during the last quarter. Concurrent Investment Advisors LLC boosted its position in shares of Wheaton Precious Metals by 8.1% during the fourth quarter. Concurrent Investment Advisors LLC now owns 4,492 shares of the company's stock worth $253,000 after acquiring an additional 336 shares during the last quarter. Finally, Bradley Foster & Sargent Inc. CT grew its stake in Wheaton Precious Metals by 2.3% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 57,862 shares of the company's stock valued at $3,254,000 after acquiring an additional 1,288 shares in the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Performance

WPM traded down $1.63 during trading on Tuesday, hitting $88.54. 2,213,696 shares of the stock were exchanged, compared to its average volume of 1,690,414. The firm has a 50 day simple moving average of $85.49 and a 200 day simple moving average of $72.90. The firm has a market cap of $40.19 billion, a price-to-earnings ratio of 65.10, a P/E/G ratio of 2.76 and a beta of 0.46. Wheaton Precious Metals Corp. has a 1 year low of $51.96 and a 1 year high of $95.23.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $470.41 million for the quarter, compared to analysts' expectations of $446.33 million. During the same period in the prior year, the business earned $0.36 EPS. The firm's quarterly revenue was up 58.4% on a year-over-year basis. As a group, equities analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were issued a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.66 dividend on an annualized basis and a yield of 0.75%. Wheaton Precious Metals's dividend payout ratio is presently 48.53%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on WPM shares. Raymond James Financial raised their price objective on Wheaton Precious Metals from $88.00 to $90.00 and gave the company an "outperform" rating in a research report on Tuesday, April 15th. BMO Capital Markets began coverage on Wheaton Precious Metals in a research note on Wednesday, April 16th. They issued an "outperform" rating and a $129.00 price objective on the stock. National Bankshares reissued an "outperform" rating on shares of Wheaton Precious Metals in a report on Wednesday, April 23rd. UBS Group upped their price target on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Finally, Royal Bank Of Canada increased their price objective on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $86.90.

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.