TD Asset Management Inc Increases Stake in Wheaton Precious Metals Corp. (NYSE:WPM)

Key Points

• TD Asset Management Inc increased its stake in Wheaton Precious Metals Corp. by 5.0% during the 1st quarter, owning approximately 1.66% of the company, valued at $582.9 million.
• Wheaton Precious Metals reported a quarterly earnings per share (EPS) of $0.55, exceeding analysts' estimates of $0.50, and achieved a revenue of $470.41 million, a 58.4% year-over-year increase.
• The company announced a quarterly dividend of $0.165 per share, representing an annualized yield of 0.70% and a payout ratio of 48.53%.

TD Asset Management Inc raised its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 5.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,512,351 shares of the company's stock after purchasing an additional 355,533 shares during the quarter. TD Asset Management Inc owned 1.66% of Wheaton Precious Metals worth $582,876,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of WPM. NBT Bank N A NY lifted its holdings in shares of Wheaton Precious Metals by 129.3% in the 1st quarter. NBT Bank N A NY now owns 415 shares of the company's stock worth $32,000 after acquiring an additional 234 shares during the last quarter. Headlands Technologies LLC lifted its holdings in shares of 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 acquiring an additional 579 shares during the last quarter. Princeton Global Asset Management LLC bought a new stake in shares of Wheaton Precious Metals in the 1st quarter worth approximately $52,000. Penserra Capital Management LLC lifted its holdings in shares of Wheaton Precious Metals by 1,812.8% in the 1st quarter. Penserra Capital Management LLC now owns 746 shares of the company's stock worth $57,000 after acquiring an additional 707 shares during the last quarter. Finally, Whittier Trust Co. lifted its holdings in shares of Wheaton Precious Metals by 77.4% in the 1st quarter. Whittier Trust Co. now owns 763 shares of the company's stock worth $59,000 after acquiring an additional 333 shares during the last quarter. 70.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WPM has been the subject of a number of recent research reports. Royal Bank Of Canada boosted their price objective on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. UBS Group lifted their target price 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. Raymond James Financial lifted their target price 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. BMO Capital Markets began coverage on shares of Wheaton Precious Metals in a research note on Wednesday, April 16th. They issued an "outperform" rating and a $129.00 target price 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 analyst has rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $93.00.

Wheaton Precious Metals Stock Down 1.1%

Shares of NYSE:WPM traded down $1.01 during midday trading on Wednesday, reaching $92.38. The company's stock had a trading volume of 667,253 shares, compared to its average volume of 1,829,532. The firm has a 50 day moving average of $89.74 and a 200-day moving average of $78.56. The firm has a market capitalization of $41.93 billion, a P/E ratio of 67.90, a PEG ratio of 2.58 and a beta of 0.46. Wheaton Precious Metals Corp. has a 12-month low of $53.05 and a 12-month high of $96.83.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.55 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.05. The firm had revenue of $470.41 million for the quarter, compared to the consensus estimate of $446.33 million. Wheaton Precious Metals had a net margin of 42.45% and a return on equity of 10.32%. The company's revenue was up 58.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 EPS. On average, research analysts predict that Wheaton Precious Metals Corp. will post 1.46 EPS for the current 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 $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend was Wednesday, May 28th. 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.