Connor Clark & Lunn Investment Management Ltd. reduced its position in shares of Wheaton Precious Metals Corp (NYSE:WPM) by 42.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 597,958 shares of the company’s stock after selling 441,670 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.13% of Wheaton Precious Metals worth $10,455,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of WPM. Eqis Capital Management Inc. grew its holdings in Wheaton Precious Metals by 86.3% during the second quarter. Eqis Capital Management Inc. now owns 25,863 shares of the company’s stock worth $571,000 after acquiring an additional 11,984 shares during the period. Aperio Group LLC grew its holdings in Wheaton Precious Metals by 1.6% during the second quarter. Aperio Group LLC now owns 313,344 shares of the company’s stock worth $6,912,000 after acquiring an additional 4,920 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Wheaton Precious Metals by 5.1% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,621,937 shares of the company’s stock worth $35,807,000 after acquiring an additional 78,540 shares during the period. Wedbush Securities Inc. grew its holdings in Wheaton Precious Metals by 9.7% during the second quarter. Wedbush Securities Inc. now owns 29,281 shares of the company’s stock worth $646,000 after acquiring an additional 2,582 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Wheaton Precious Metals by 11.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 180,571 shares of the company’s stock worth $3,985,000 after acquiring an additional 17,966 shares during the period. Institutional investors own 54.73% of the company’s stock.
A number of equities analysts recently weighed in on WPM shares. Deutsche Bank set a $25.00 price target on Wheaton Precious Metals and gave the stock a “buy” rating in a research note on Tuesday, October 2nd. TD Securities dropped their price target on Wheaton Precious Metals from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, November 15th. TheStreet cut Wheaton Precious Metals from a “b-” rating to a “c+” rating in a research note on Monday, November 12th. ValuEngine cut Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Monday, August 13th. Finally, Raymond James lifted their price target on Wheaton Precious Metals from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Friday, September 28th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $25.60.
Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Wednesday, November 14th. The company reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.02). The company had revenue of $185.77 million during the quarter, compared to analysts’ expectations of $191.11 million. Wheaton Precious Metals had a return on equity of 5.14% and a net margin of 33.64%. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.15 EPS. As a group, equities analysts forecast that Wheaton Precious Metals Corp will post 0.52 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Investors of record on Friday, November 30th will be paid a $0.09 dividend. The ex-dividend date is Thursday, November 29th. This represents a $0.36 dividend on an annualized basis and a yield of 2.30%. Wheaton Precious Metals’s dividend payout ratio is currently 57.14%.
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Wheaton Precious Metals Profile
Wheaton Precious Metals Corp. operates as a silver and gold streaming company in Canada and internationally. It has streaming agreements for 20 operating mines and 9 development stage projects. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp.
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