Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 17.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,465,542 shares of the company's stock after purchasing an additional 363,375 shares during the quarter. Wheaton Precious Metals accounts for about 0.8% of Connor Clark & Lunn Investment Management Ltd.'s holdings, making the stock its 24th largest position. Connor Clark & Lunn Investment Management Ltd. owned about 0.54% of Wheaton Precious Metals worth $191,357,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in the business. Cerity Partners LLC raised its position in shares of Wheaton Precious Metals by 5.5% in the 1st quarter. Cerity Partners LLC now owns 20,271 shares of the company's stock worth $1,574,000 after acquiring an additional 1,058 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in Wheaton Precious Metals by 37.4% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,109 shares of the company's stock valued at $630,000 after purchasing an additional 2,208 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in Wheaton Precious Metals by 5.8% during the first quarter. Sequoia Financial Advisors LLC now owns 5,392 shares of the company's stock valued at $419,000 after acquiring an additional 297 shares during the period. Dynamic Advisor Solutions LLC bought a new stake in Wheaton Precious Metals during the first quarter valued at about $531,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Wheaton Precious Metals by 34.6% in the first quarter. Principal Financial Group Inc. now owns 25,244 shares of the company's stock worth $1,959,000 after purchasing an additional 6,486 shares during the last quarter. 70.34% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
WPM has been the subject of several recent analyst reports. Berenberg Bank boosted their target price on Wheaton Precious Metals from $87.00 to $95.00 and gave the company a "buy" rating in a research report on Thursday, July 3rd. National Bankshares reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a research report on Tuesday, June 24th. Scotiabank upped their price target on Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a "sector outperform" rating in a research report on Monday, April 14th. UBS Group set a $106.00 target price on Wheaton Precious Metals and gave the company a "neutral" rating in a research report on Monday. Finally, Raymond James Financial increased their price target on Wheaton Precious Metals from $88.00 to $90.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Wheaton Precious Metals has a consensus rating of "Moderate Buy" and an average target price of $94.89.
Read Our Latest Research Report on WPM
Wheaton Precious Metals Trading Down 3.3%
Shares of NYSE WPM traded down $3.29 during midday trading on Monday, reaching $97.40. The company's stock had a trading volume of 3,400,390 shares, compared to its average volume of 1,823,848. The company has a 50 day moving average price of $91.65 and a 200 day moving average price of $81.19. The company has a market cap of $44.22 billion, a price-to-earnings ratio of 56.30, a price-to-earnings-growth ratio of 2.81 and a beta of 0.39. Wheaton Precious Metals Corp. has a one year low of $55.47 and a one year high of $103.81.
Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.05. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 12.12%. The firm had revenue of $503.22 million during the quarter, compared to analysts' expectations of $424.23 million. During the same period in the previous year, the company earned $0.33 earnings per share. The company's revenue was up 68.2% compared to the same quarter last year. Research 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, August 21st. Wheaton Precious Metals's payout ratio is 38.15%.
Wheaton Precious Metals Company Profile
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Free Report)
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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