Intact Investment Management Inc. Acquires 32,970 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Intact Investment Management Inc. increased its holdings in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 53.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 94,570 shares of the company's stock after purchasing an additional 32,970 shares during the period. Intact Investment Management Inc.'s holdings in Wheaton Precious Metals were worth $7,340,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Wheaton Precious Metals by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 17,672,518 shares of the company's stock worth $994,733,000 after acquiring an additional 281,123 shares during the period. FMR LLC raised its holdings in Wheaton Precious Metals by 5.9% in the fourth quarter. FMR LLC now owns 15,529,219 shares of the company's stock valued at $873,995,000 after buying an additional 863,306 shares during the period. Royal Bank of Canada lifted its position in Wheaton Precious Metals by 5.0% during the fourth 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 in the last quarter. Norges Bank purchased a new position in shares of Wheaton Precious Metals in the fourth quarter valued at $472,648,000. Finally, TD Asset Management Inc. increased its stake in Wheaton Precious Metals by 9.6% during the 4th quarter. TD Asset Management Inc. now owns 7,156,818 shares of the company's stock worth $402,627,000 after buying an additional 629,743 shares during the period. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on WPM shares. Royal Bank Of Canada lifted their target price on Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. Scotiabank upped their price objective on shares of Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a "sector outperform" rating in a report on Monday, April 14th. National Bankshares reiterated an "outperform" rating on shares of Wheaton Precious Metals in a research report on Wednesday, April 23rd. Raymond James Financial boosted 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 report on Tuesday, April 15th. 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 analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Wheaton Precious Metals currently has an average rating of "Buy" and a consensus price target of $86.90.

Wheaton Precious Metals Price Performance

NYSE WPM traded up $0.71 on Wednesday, hitting $89.28. 1,404,745 shares of the stock were exchanged, compared to its average volume of 1,695,616. The company's 50-day moving average price is $85.68 and its two-hundred day moving average price is $73.12. Wheaton Precious Metals Corp. has a 52-week low of $51.96 and a 52-week high of $95.23. The company has a market capitalization of $40.53 billion, a price-to-earnings ratio of 65.65, a P/E/G ratio of 2.71 and a beta of 0.46.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its quarterly earnings data 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 return on equity of 10.32% and a net margin of 42.45%. The firm had revenue of $470.41 million during the quarter, compared to the consensus estimate of $446.33 million. During the same period in the prior year, the business earned $0.36 EPS. The business's revenue for the quarter was up 58.4% on a year-over-year basis. Equities analysts predict that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

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

Wheaton Precious Metals 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.