TD Asset Management Inc Sells 504,324 Shares of Wheaton Precious Metals Corp. $WPM

Key Points

• TD Asset Management Inc has reduced its stake in Wheaton Precious Metals Corp. by 6.7%, selling 504,324 shares, now holding approximately 7 million shares valued at $628.95 million.
• Wheaton Precious Metals reported a quarterly earnings per share (EPS) of $0.63, exceeding analyst expectations, with revenues rising by 68.2% year-over-year.
• The firm has declared a quarterly dividend of $0.165 per share, reflecting an annual yield of 0.6% and a payout ratio of 38.15%.

TD Asset Management Inc cut its position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 6.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,008,027 shares of the company's stock after selling 504,324 shares during the quarter. TD Asset Management Inc owned about 1.54% of Wheaton Precious Metals worth $628,951,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bulwark Capital Corp bought a new position in Wheaton Precious Metals during the second quarter worth $27,000. NBT Bank N A NY boosted its position in Wheaton Precious Metals by 129.3% during the first quarter. NBT Bank N A NY now owns 415 shares of the company's stock worth $32,000 after purchasing an additional 234 shares during the period. Wealth Preservation Advisors LLC bought a new position in Wheaton Precious Metals during the first quarter worth $38,000. Banque Cantonale Vaudoise bought a new position in Wheaton Precious Metals during the first quarter worth $49,000. Finally, Penserra Capital Management LLC boosted its position in Wheaton Precious Metals by 1,812.8% during the first quarter. Penserra Capital Management LLC now owns 746 shares of the company's stock worth $57,000 after purchasing an additional 707 shares during the period. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Stock Up 3.4%

WPM stock opened at $109.07 on Tuesday. The company has a market cap of $49.51 billion, a PE ratio of 63.05, a price-to-earnings-growth ratio of 2.81 and a beta of 0.41. The business has a 50-day simple moving average of $102.70 and a 200 day simple moving average of $91.78. Wheaton Precious Metals Corp. has a 52 week low of $55.47 and a 52 week high of $114.00.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.05. The business had revenue of $503.22 million during the quarter, compared to the consensus estimate of $424.23 million. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.Wheaton Precious Metals's revenue for the quarter was up 68.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.33 earnings per share. On average, analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.66 annualized dividend and a yield of 0.6%. Wheaton Precious Metals's payout ratio is presently 38.15%.

Analyst Upgrades and Downgrades

A number of research firms have commented on WPM. UBS Group lifted their price objective on shares of Wheaton Precious Metals from $106.00 to $118.00 and gave the stock a "neutral" rating in a research report on Friday, September 19th. National Bankshares reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a research report on Tuesday, June 24th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a research report on Friday, August 8th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Wheaton Precious Metals in a research report on Wednesday, October 8th. Finally, Raymond James Financial lifted their price objective on shares of Wheaton Precious Metals from $114.00 to $127.00 and gave the stock an "outperform" rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $114.50.

About Wheaton Precious Metals

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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