Canoe Financial LP Sells 14,704 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Canoe Financial LP reduced its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,794,022 shares of the company’s stock after selling 14,704 shares during the period. Wheaton Precious Metals accounts for 1.5% of Canoe Financial LP’s portfolio, making the stock its 26th largest position. Canoe Financial LP’s holdings in Wheaton Precious Metals were worth $100,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Versant Capital Management Inc purchased a new position in shares of Wheaton Precious Metals in the 4th quarter valued at approximately $29,000. Abich Financial Wealth Management LLC bought a new position in Wheaton Precious Metals in the second quarter worth $31,000. Laurel Wealth Advisors LLC purchased a new position in Wheaton Precious Metals during the fourth quarter valued at $39,000. GAMMA Investing LLC bought a new stake in shares of Wheaton Precious Metals during the 4th quarter valued at $41,000. Finally, Sunbelt Securities Inc. purchased a new stake in shares of Wheaton Precious Metals in the 2nd quarter worth about $47,000. 70.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

WPM has been the topic of several research reports. Jefferies Financial Group boosted their price objective on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. TD Securities boosted their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Raymond James upped their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. National Bank Financial upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Finally, UBS Group started coverage on Wheaton Precious Metals in a report on Monday, November 18th. They issued a “buy” rating and a $78.00 price objective for the company. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and an average price target of $71.67.

Wheaton Precious Metals Stock Up 0.4 %

Shares of WPM opened at $57.74 on Friday. Wheaton Precious Metals Corp. has a 52 week low of $38.57 and a 52 week high of $68.64. The stock has a market cap of $26.19 billion, a price-to-earnings ratio of 43.09, a PEG ratio of 1.28 and a beta of 0.76. The business has a 50-day simple moving average of $59.52 and a two-hundred day simple moving average of $60.40.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.34. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The firm had revenue of $308.25 million during the quarter, compared to analysts’ expectations of $324.57 million. During the same period in the prior year, the company posted $0.27 earnings per share. On average, equities analysts anticipate that Wheaton Precious Metals Corp. will post 1.45 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Thursday, November 21st were given a $0.155 dividend. The ex-dividend date was Thursday, November 21st. This represents a $0.62 annualized dividend and a dividend yield of 1.07%. Wheaton Precious Metals’s payout ratio is 46.27%.

Wheaton Precious Metals Profile

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.