BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 98,408 Shares of Wheaton Precious Metals Corp. $WPM

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 8.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,108,839 shares of the company’s stock after selling 98,408 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Wheaton Precious Metals were worth $99,780,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Bank of America Corp DE grew its stake in shares of Wheaton Precious Metals by 12.8% in the 2nd quarter. Bank of America Corp DE now owns 4,481,459 shares of the company’s stock worth $402,435,000 after buying an additional 507,577 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Wheaton Precious Metals by 17.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 410,941 shares of the company’s stock valued at $37,359,000 after acquiring an additional 59,564 shares during the last quarter. MGB Wealth Management LLC purchased a new position in Wheaton Precious Metals in the second quarter worth about $201,000. Raymond James Financial Inc. increased its stake in Wheaton Precious Metals by 1.1% during the second quarter. Raymond James Financial Inc. now owns 371,064 shares of the company’s stock worth $33,322,000 after acquiring an additional 4,143 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new stake in Wheaton Precious Metals during the second quarter worth approximately $379,000. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Up 0.3%

WPM stock opened at $117.62 on Friday. Wheaton Precious Metals Corp. has a twelve month low of $55.47 and a twelve month high of $120.55. The firm has a market cap of $53.40 billion, a price-to-earnings ratio of 53.46, a PEG ratio of 1.74 and a beta of 0.54. The business’s fifty day simple moving average is $104.06 and its two-hundred day simple moving average is $98.75.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. The firm had revenue of $476.26 million for the quarter, compared to analysts’ expectations of $495.53 million. Wheaton Precious Metals had a net margin of 54.72% and a return on equity of 13.32%. The business’s revenue for the quarter was up 54.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.34 earnings per share. Research analysts expect that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, November 20th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Thursday, November 20th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.6%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 30.00%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Zacks Research raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 24th. Berenberg Bank boosted their price objective on shares of Wheaton Precious Metals from $102.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Royal Bank Of Canada upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $115.00 to $130.00 in a research report on Wednesday. Scotiabank restated an “outperform” rating on shares of Wheaton Precious Metals in a report on Thursday, October 23rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wheaton Precious Metals in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Wheaton Precious Metals currently has a consensus rating of “Buy” and a consensus price target of $130.78.

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.