Canoe Financial LP Purchases 52,374 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Canoe Financial LP raised its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 2.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,840,845 shares of the company's stock after purchasing an additional 52,374 shares during the period. Canoe Financial LP owned 0.41% of Wheaton Precious Metals worth $90,816,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. CVA Family Office LLC bought a new position in Wheaton Precious Metals in the fourth quarter worth about $26,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of Wheaton Precious Metals during the 4th quarter worth approximately $31,000. Principal Securities Inc. purchased a new stake in Wheaton Precious Metals during the fourth quarter valued at approximately $39,000. Fifth Third Bancorp boosted its stake in Wheaton Precious Metals by 230.7% in the fourth quarter. Fifth Third Bancorp now owns 863 shares of the company's stock valued at $43,000 after acquiring an additional 602 shares in the last quarter. Finally, Hexagon Capital Partners LLC grew its holdings in Wheaton Precious Metals by 30.8% in the fourth quarter. Hexagon Capital Partners LLC now owns 1,159 shares of the company's stock worth $57,000 after purchasing an additional 273 shares during the last quarter. Institutional investors own 70.34% of the company's stock.

Wheaton Precious Metals Price Performance

NYSE:WPM traded down $0.84 during mid-day trading on Friday, hitting $54.94. The company's stock had a trading volume of 2,600,076 shares, compared to its average volume of 1,919,715. The business's fifty day moving average is $49.26 and its two-hundred day moving average is $47.27. The stock has a market cap of $24.91 billion, a price-to-earnings ratio of 42.26, a PEG ratio of 7.43 and a beta of 0.75. Wheaton Precious Metals Corp. has a 1 year low of $38.37 and a 1 year high of $57.33.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its earnings results on Thursday, May 9th. The company reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.07. The firm had revenue of $296.80 million for the quarter, compared to the consensus estimate of $278.95 million. Wheaton Precious Metals had a return on equity of 8.59% and a net margin of 53.74%. The company's revenue was up 38.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.23 earnings per share. Analysts anticipate that Wheaton Precious Metals Corp. will post 1.26 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 29th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Wednesday, May 29th. Wheaton Precious Metals's dividend payout ratio (DPR) is 47.69%.

Analyst Ratings Changes

A number of equities research analysts have commented on WPM shares. Berenberg Bank increased their price target on Wheaton Precious Metals from $52.00 to $54.00 and gave the company a "buy" rating in a research note on Wednesday, March 27th. BMO Capital Markets lowered their target price on shares of Wheaton Precious Metals from $61.00 to $59.00 and set an "outperform" rating for the company in a research note on Wednesday, February 21st. Raymond James cut their price target on shares of Wheaton Precious Metals from $60.00 to $58.00 and set a "market perform" rating on the stock in a research note on Thursday, February 22nd. National Bank Financial downgraded shares of Wheaton Precious Metals from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, February 21st. Finally, Jefferies Financial Group boosted their price objective on shares of Wheaton Precious Metals from $52.00 to $61.00 and gave the company a "buy" rating in a report on Monday, April 22nd. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $57.25.

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.