Scotia Capital Inc. Increases Stock Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Key Points

• Scotia Capital Inc. increased its holdings in Wheaton Precious Metals Corp. by 208.1%, owning 457,647 shares worth approximately $35.5 million after acquiring an additional 309,128 shares in the first quarter.
• Wheaton Precious Metals reported $0.55 earnings per share for the latest quarter, surpassing estimates, with revenue increasing by 58.4% year-over-year to $470.41 million.
• The company announced a quarterly dividend of $0.165 per share, resulting in a 0.7% dividend yield for investors, with a payout ratio of 48.53%.

Scotia Capital Inc. boosted its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 208.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 457,647 shares of the company's stock after acquiring an additional 309,128 shares during the quarter. Scotia Capital Inc. owned 0.10% of Wheaton Precious Metals worth $35,527,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of Nova Scotia Trust Co. boosted its holdings in Wheaton Precious Metals by 7.2% during the 1st quarter. Bank of Nova Scotia Trust Co. now owns 13,202 shares of the company's stock valued at $1,025,000 after acquiring an additional 885 shares during the period. J. Safra Sarasin Holding AG boosted its holdings in Wheaton Precious Metals by 22.8% during the 1st quarter. J. Safra Sarasin Holding AG now owns 19,015 shares of the company's stock valued at $1,476,000 after acquiring an additional 3,531 shares during the period. Klein Pavlis & Peasley Financial Inc. boosted its holdings in Wheaton Precious Metals by 3.6% during the 1st quarter. Klein Pavlis & Peasley Financial Inc. now owns 63,299 shares of the company's stock valued at $4,863,000 after acquiring an additional 2,189 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Wheaton Precious Metals by 2.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 33,563 shares of the company's stock valued at $2,605,000 after acquiring an additional 649 shares during the period. Finally, Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. boosted its holdings in Wheaton Precious Metals by 5.6% during the 1st quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 22,700 shares of the company's stock valued at $1,767,000 after acquiring an additional 1,200 shares during the period. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Performance

Shares of NYSE WPM opened at $92.11 on Friday. Wheaton Precious Metals Corp. has a fifty-two week low of $53.05 and a fifty-two week high of $96.83. The firm has a market capitalization of $41.81 billion, a PE ratio of 67.73, a price-to-earnings-growth ratio of 2.58 and a beta of 0.39. The stock's 50-day simple moving average is $90.31 and its 200-day simple moving average is $79.38.

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 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 business had revenue of $470.41 million for the quarter, compared to analyst estimates of $446.33 million. During the same quarter last year, the company earned $0.36 EPS. The business's quarterly revenue was up 58.4% on a year-over-year basis. On average, sell-side analysts forecast that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, May 28th. Wheaton Precious Metals's dividend payout ratio (DPR) is 48.53%.

Analyst Upgrades and Downgrades

WPM has been the subject of a number of research analyst reports. UBS Group raised their target price on Wheaton Precious Metals from $78.00 to $89.00 and gave the company a "buy" rating in a report on Friday, April 11th. Royal Bank Of Canada lifted their price objective on Wheaton Precious Metals from $80.00 to $90.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Berenberg Bank lifted their price objective on Wheaton Precious Metals from $87.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. Raymond James Financial lifted their price objective on Wheaton Precious Metals from $88.00 to $90.00 and gave the company an "outperform" rating in a research note on Tuesday, April 15th. Finally, National Bankshares reiterated an "outperform" rating on shares of Wheaton Precious Metals in a research note on Tuesday, June 24th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $93.00.

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.

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