TD Waterhouse Canada Inc. Cuts Stock Position in Wheaton Precious Metals Corp. $WPM

Key Points

• TD Waterhouse Canada reduced its Wheaton Precious Metals stake by 3.4% in the second quarter, selling 46,079 shares and retaining 1.30 million shares worth approximately $144.9 million. Institutional investors collectively own 70.34% of WPM.
• Analysts remain broadly positive, with 12 Buy ratings and one Hold rating, resulting in a “Moderate Buy” consensus and an average price target of $165.55.
• Wheaton reported quarterly EPS of $1.19, beating estimates, while revenue rose 84.7% year over year to $878 million. The company also paid a quarterly dividend of $0.195 per share, equivalent to a 0.5% annualized yield.

TD Waterhouse Canada Inc. decreased its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 3.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,298,357 shares of the company's stock after selling 46,079 shares during the quarter. TD Waterhouse Canada Inc. owned about 0.29% of Wheaton Precious Metals worth $144,886,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in WPM. Van ECK Associates Corp lifted its stake in shares of Wheaton Precious Metals by 10.7% during the fourth quarter. Van ECK Associates Corp now owns 14,469,877 shares of the company's stock worth $1,700,517,000 after purchasing an additional 1,402,092 shares in the last quarter. Capital International Investors grew its stake in shares of Wheaton Precious Metals by 1.2% in the fourth quarter. Capital International Investors now owns 7,595,725 shares of the company's stock valued at $892,650,000 after buying an additional 93,599 shares in the last quarter. Norges Bank acquired a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at about $864,977,000. TD Asset Management Inc raised its holdings in shares of Wheaton Precious Metals by 0.5% during the 4th quarter. TD Asset Management Inc now owns 7,285,275 shares of the company's stock valued at $857,598,000 after buying an additional 33,221 shares during the period. Finally, Bank of Montreal Can raised its holdings in shares of Wheaton Precious Metals by 9.4% during the 4th quarter. Bank of Montreal Can now owns 7,061,090 shares of the company's stock valued at $830,134,000 after buying an additional 605,415 shares during the period. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WPM has been the subject of a number of analyst reports. UBS Group decreased their price target on Wheaton Precious Metals from $165.00 to $150.00 and set a "buy" rating for the company in a report on Tuesday, June 30th. Wall Street Zen lowered shares of Wheaton Precious Metals from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. Weiss Ratings downgraded shares of Wheaton Precious Metals from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, July 16th. Jefferies Financial Group lowered their price target on shares of Wheaton Precious Metals from $182.00 to $177.00 and set a "buy" rating for the company in a report on Monday, July 6th. Finally, Berenberg Bank set a $157.00 price target on shares of Wheaton Precious Metals in a research note on Tuesday, July 28th. Twelve research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $165.55.

Wheaton Precious Metals Price Performance

Shares of NYSE WPM opened at $157.37 on Friday. Wheaton Precious Metals Corp. has a fifty-two week low of $92.57 and a fifty-two week high of $165.76. The business has a 50 day moving average price of $125.34 and a two-hundred day moving average price of $131.38. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.20. The firm has a market cap of $71.47 billion, a PE ratio of 34.89, a price-to-earnings-growth ratio of 2.67 and a beta of 0.60.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.15 by $0.04. The company had revenue of $878.00 million for the quarter, compared to analyst estimates of $879.29 million. Wheaton Precious Metals had a return on equity of 21.97% and a net margin of 64.66%.Wheaton Precious Metals's quarterly revenue was up 84.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.63 EPS. Sell-side analysts expect that Wheaton Precious Metals Corp. will post 4.79 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th were paid a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Thursday, August 20th. Wheaton Precious Metals's dividend payout ratio is 17.29%.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company's activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.

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