BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Decreases Holdings in Wheaton Precious Metals Corp. $WPM

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 8.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,108,839 shares of the company’s stock after selling 98,408 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.24% of Wheaton Precious Metals worth $99,780,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of WPM. West Family Investments Inc. purchased a new position in shares of Wheaton Precious Metals in the second quarter worth approximately $247,000. Norges Bank purchased a new stake in Wheaton Precious Metals during the second quarter valued at approximately $656,463,000. Louisbourg Investments Inc. raised its position in Wheaton Precious Metals by 72.9% in the second quarter. Louisbourg Investments Inc. now owns 115,846 shares of the company’s stock worth $10,398,000 after acquiring an additional 48,852 shares during the period. B.O.S.S. Retirement Advisors LLC purchased a new position in shares of Wheaton Precious Metals during the 2nd quarter worth $218,000. Finally, LGT Fund Management Co Ltd. bought a new stake in shares of Wheaton Precious Metals during the 2nd quarter valued at $225,000. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Price Performance

Shares of WPM opened at $117.62 on Friday. The firm has a market cap of $53.40 billion, a P/E ratio of 53.46, a price-to-earnings-growth ratio of 1.74 and a beta of 0.54. Wheaton Precious Metals Corp. has a 1 year low of $55.47 and a 1 year high of $120.55. The company has a 50 day simple moving average of $104.06 and a two-hundred day simple moving average of $98.75.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, November 6th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. The firm had revenue of $476.26 million during the quarter, compared to analyst estimates of $495.53 million. Wheaton Precious Metals had a net margin of 54.72% and a return on equity of 13.32%. Wheaton Precious Metals’s revenue for the quarter was up 54.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.34 earnings per share. On average, sell-side analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, November 20th were given a dividend of $0.165 per share. The ex-dividend date was Thursday, November 20th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.6%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 30.00%.

Analysts Set New Price Targets

WPM has been the topic of several analyst reports. UBS Group lifted their target price on Wheaton Precious Metals from $116.00 to $118.00 and gave the company a “neutral” rating in a research report on Monday, December 1st. Wall Street Zen raised Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research report on Monday, September 8th. Scotiabank reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research note on Thursday, October 23rd. Bank of America raised their target price on shares of Wheaton Precious Metals from $127.00 to $132.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Finally, Raymond James Financial upped their price target on shares of Wheaton Precious Metals from $114.00 to $127.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Wheaton Precious Metals presently has an average rating of “Buy” and a consensus price target of $130.78.

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.