Dixon Mitchell Investment Counsel Inc. Lowers Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Dixon Mitchell Investment Counsel Inc. trimmed its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 31.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 791,252 shares of the company’s stock after selling 363,364 shares during the quarter. Wheaton Precious Metals comprises about 2.2% of Dixon Mitchell Investment Counsel Inc.’s holdings, making the stock its 22nd largest position. Dixon Mitchell Investment Counsel Inc.’s holdings in Wheaton Precious Metals were worth $48,379,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. TD Asset Management Inc lifted its position in Wheaton Precious Metals by 71.2% during the first quarter. TD Asset Management Inc now owns 4,857,837 shares of the company’s stock valued at $229,026,000 after purchasing an additional 2,019,722 shares during the last quarter. AMF Tjanstepension AB lifted its holdings in shares of 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. Mirae Asset Global Investments Co. Ltd. increased its stake in Wheaton Precious Metals by 31.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,672,800 shares of the company’s stock valued at $272,975,000 after acquiring an additional 1,342,264 shares during the last quarter. Barings LLC bought a new position in Wheaton Precious Metals in the second quarter valued at $65,405,000. Finally, Price T Rowe Associates Inc. MD raised its position in Wheaton Precious Metals by 16.0% during the first 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 in the last quarter. 70.34% of the stock is currently owned by institutional investors.

Wheaton Precious Metals Price Performance

Shares of NYSE:WPM opened at $66.49 on Friday. Wheaton Precious Metals Corp. has a 1 year low of $38.57 and a 1 year high of $66.75. The stock’s 50-day moving average is $61.09 and its 200 day moving average is $57.03. The company has a market cap of $30.16 billion, a PE ratio of 52.77, a P/E/G ratio of 2.18 and a beta of 0.78.

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

Wheaton Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date was Wednesday, August 21st. Wheaton Precious Metals’s payout ratio is 49.21%.

Analysts Set New Price Targets

WPM has been the subject of a number of research reports. TD Securities cut their price objective on Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, August 15th. 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. CIBC upped their price target on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Berenberg Bank lifted their price objective on Wheaton Precious Metals from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, Scotiabank increased their target price on Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $69.88.

About Wheaton Precious Metals

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.