Generate Investment Management Ltd Purchases 50,000 Shares of Wheaton Precious Metals Corp. $WPM

Generate Investment Management Ltd boosted its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 83.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 110,000 shares of the company’s stock after acquiring an additional 50,000 shares during the period. Generate Investment Management Ltd’s holdings in Wheaton Precious Metals were worth $14,709,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stack Financial Management Inc acquired a new stake in Wheaton Precious Metals in the second quarter valued at approximately $30,118,000. Pecaut & CO. purchased a new position in shares of Wheaton Precious Metals during the 2nd quarter valued at approximately $1,297,000. Euro Pacific Asset Management LLC lifted its position in shares of Wheaton Precious Metals by 3.0% during the 1st quarter. Euro Pacific Asset Management LLC now owns 294,402 shares of the company’s stock valued at $37,895,000 after buying an additional 8,455 shares in the last quarter. Groupe la Francaise lifted its position in shares of Wheaton Precious Metals by 9.7% during the 2nd quarter. Groupe la Francaise now owns 305,000 shares of the company’s stock valued at $34,324,000 after buying an additional 26,975 shares in the last quarter. Finally, Royal London Asset Management Ltd. grew its stake in Wheaton Precious Metals by 66.1% in the 2nd quarter. Royal London Asset Management Ltd. now owns 1,040,429 shares of the company’s stock valued at $116,861,000 after acquiring an additional 413,859 shares during the period. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on WPM. Weiss Ratings raised shares of Wheaton Precious Metals from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday. Scotiabank decreased their price objective on shares of Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating on the stock in a report on Tuesday, July 14th. Bank of America decreased their price objective on shares of Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Royal Bank Of Canada lifted their target price on shares of Wheaton Precious Metals from $160.00 to $165.00 and gave the company an “outperform” rating in a research report on Wednesday, September 16th. Finally, Jefferies Financial Group cut their target price on shares of Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Ten analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Wheaton Precious Metals has an average rating of “Moderate Buy” and an average target price of $172.11.

Wheaton Precious Metals Price Performance

Shares of Wheaton Precious Metals stock traded down $6.30 during mid-day trading on Wednesday, reaching $129.73. 845,924 shares of the stock traded hands, compared to its average volume of 2,197,109. The business has a 50-day moving average of $144.24 and a 200 day moving average of $131.48. Wheaton Precious Metals Corp. has a fifty-two week low of $92.57 and a fifty-two week high of $165.76. The stock has a market capitalization of $58.92 billion, a PE ratio of 28.79, a PEG ratio of 2.52 and a beta of 0.54. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.20.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Thursday, August 6th. The company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.04. Wheaton Precious Metals had a return on equity of 21.97% and a net margin of 64.66%. The company had revenue of $878.00 million for the quarter, compared to analyst estimates of $879.29 million. During the same quarter last year, the firm posted $0.63 EPS. The firm’s revenue for the quarter was up 84.7% on a year-over-year basis. On average, analysts predict that Wheaton Precious Metals Corp. will post 4.80 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th were given a $0.1950 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Thursday, August 20th. Wheaton Precious Metals’s dividend payout ratio is 17.29%.

Wheaton Precious Metals Profile

Wheaton Precious Metals Corp. is a precious metals streaming company headquartered in Vancouver, Canada. Rather than operating mines directly, the company provides mining companies with upfront financing in exchange for the right to purchase a portion of the gold, silver, palladium, cobalt and other metals produced by designated mining operations at predetermined prices.

Wheaton’s streaming portfolio is supported by agreements with mining operations in the Americas and other regions, including Canada, the United States, Mexico, Peru, Brazil and Chile.