Great West Life Assurance Co. Can raised its position in Wheaton Precious Metals Corp (NYSE:WPM) by 19.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,506,124 shares of the company’s stock after buying an additional 246,034 shares during the period. Great West Life Assurance Co. Can owned about 0.34% of Wheaton Precious Metals worth $26,372,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WPM. Greenleaf Trust purchased a new position in Wheaton Precious Metals in the second quarter valued at $210,000. Marietta Investment Partners LLC purchased a new position in Wheaton Precious Metals in the second quarter valued at $210,000. MAI Capital Management purchased a new position in Wheaton Precious Metals in the second quarter valued at $214,000. Edgestream Partners L.P. purchased a new position in Wheaton Precious Metals in the second quarter valued at $228,000. Finally, Argent Trust Co purchased a new position in Wheaton Precious Metals in the second quarter valued at $325,000. 54.73% of the stock is owned by institutional investors.
WPM has been the subject of a number of recent analyst reports. TD Securities cut their price objective on shares of Wheaton Precious Metals from $27.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, November 15th. ValuEngine raised shares of Wheaton Precious Metals from a “sell” rating to a “hold” rating in a report on Thursday, September 27th. TheStreet lowered shares of Wheaton Precious Metals from a “b-” rating to a “c+” rating in a research report on Monday, November 12th. Barclays began coverage on shares of Wheaton Precious Metals in a research report on Wednesday, October 10th. They issued an “overweight” rating on the stock. Finally, Raymond James lifted their target price on shares of Wheaton Precious Metals from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, September 28th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Wheaton Precious Metals currently has a consensus rating of “Buy” and a consensus target price of $25.60.
Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Wednesday, November 14th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.02). Wheaton Precious Metals had a net margin of 33.64% and a return on equity of 5.14%. The company had revenue of $185.77 million during the quarter, compared to analyst estimates of $191.11 million. During the same quarter last year, the business earned $0.15 EPS. The firm’s revenue for the quarter was down 8.5% compared to the same quarter last year. Research analysts predict that Wheaton Precious Metals Corp will post 0.52 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Friday, November 30th will be given a $0.09 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.36 annualized dividend and a dividend yield of 2.30%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 57.14%.
About Wheaton Precious Metals
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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