Intact Investment Management Inc. Sells 20,720 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Intact Investment Management Inc. decreased its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 23.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 68,430 shares of the company’s stock after selling 20,720 shares during the quarter. Intact Investment Management Inc.’s holdings in Wheaton Precious Metals were worth $4,180,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. TD Asset Management Inc grew its holdings in Wheaton Precious Metals by 71.2% during the 1st quarter. TD Asset Management Inc now owns 4,857,837 shares of the company’s stock worth $229,026,000 after acquiring an additional 2,019,722 shares during the last quarter. Canoe Financial LP bought a new stake in Wheaton Precious Metals during the 3rd quarter worth about $113,017,000. AMF Tjanstepension AB grew its holdings in Wheaton Precious Metals by 593.5% during the 2nd quarter. AMF Tjanstepension AB now owns 1,608,134 shares of the company’s stock worth $84,388,000 after acquiring an additional 1,376,231 shares during the last quarter. Barings LLC bought a new position in shares of Wheaton Precious Metals in the 2nd quarter valued at about $65,405,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Wheaton Precious Metals by 16.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,309,175 shares of the company’s stock valued at $344,483,000 after purchasing an additional 1,010,307 shares during the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Price Performance

Wheaton Precious Metals stock opened at $64.87 on Tuesday. The firm has a market capitalization of $29.43 billion, a price-to-earnings ratio of 51.48, a PEG ratio of 2.37 and a beta of 0.77. The company’s 50 day simple moving average is $62.53 and its 200 day simple moving average is $58.23. Wheaton Precious Metals Corp. has a fifty-two week low of $38.57 and a fifty-two week high of $68.64.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Wednesday, August 7th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. The firm had revenue of $299.06 million for the quarter, compared to the consensus estimate of $309.54 million. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. The business’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period last year, the company posted $0.31 EPS. As a group, analysts predict that Wheaton Precious Metals Corp. will post 1.44 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were issued a dividend of $0.155 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.62 annualized dividend and a yield of 0.96%. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 49.21%.

Analyst Upgrades and Downgrades

WPM has been the topic of several recent research reports. CIBC raised their target price on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. TD Securities reduced their target price on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Jefferies Financial Group raised their target price on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Raymond James raised 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. Finally, National Bank Financial raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.25.

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.