Canoe Financial LP Sells 432,235 Shares of Wheaton Precious Metals Corp. $WPM

Canoe Financial LP cut its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 48.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 455,701 shares of the company’s stock after selling 432,235 shares during the quarter. Canoe Financial LP’s holdings in Wheaton Precious Metals were worth $59,795,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Assetmark Inc. grew its holdings in shares of Wheaton Precious Metals by 144.4% during the 4th quarter. Assetmark Inc. now owns 220 shares of the company’s stock worth $26,000 after acquiring an additional 130 shares during the period. Harvest Fund Management Co. Ltd lifted its stake in shares of Wheaton Precious Metals by 100.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock valued at $27,000 after purchasing an additional 117 shares during the period. Cary Street Partners Investment Advisory LLC bought a new stake in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $28,000. Navalign LLC bought a new stake in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $30,000. Finally, Eagle Bay Advisors LLC purchased a new stake in Wheaton Precious Metals in the fourth quarter worth $32,000. 70.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. BMO Capital Markets started coverage on Wheaton Precious Metals in a report on Thursday, April 9th. They issued an “outperform” rating and a $240.00 price objective for the company. TD Cowen boosted their target price on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a report on Monday, March 16th. TD Securities upped their target price on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. Zacks Research lowered shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. Finally, Scotiabank lifted their price target on shares of Wheaton Precious Metals from $178.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Twelve research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.64.

Wheaton Precious Metals Trading Up 0.0%

Wheaton Precious Metals stock opened at $113.32 on Monday. The business’s fifty day simple moving average is $128.66 and its two-hundred day simple moving average is $132.83. Wheaton Precious Metals Corp. has a 12 month low of $85.59 and a 12 month high of $165.76. The company has a market capitalization of $51.46 billion, a price-to-earnings ratio of 28.62, a price-to-earnings-growth ratio of 2.13 and a beta of 0.51.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.04. The firm had revenue of $901.47 million during the quarter, compared to the consensus estimate of $868.35 million. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.The company’s revenue was up 91.7% on a year-over-year basis. During the same period last year, the company earned $0.55 earnings per share. On average, equities research analysts predict that Wheaton Precious Metals Corp. will post 4.99 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th were paid a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Wednesday, May 27th. Wheaton Precious Metals’s dividend payout ratio is currently 19.70%.

About Wheaton Precious Metals

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.