AGF Management Ltd. Trims Stock Position in Wheaton Precious Metals Corp. $WPM

AGF Management Ltd. lowered its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 17.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 111,528 shares of the company’s stock after selling 24,328 shares during the quarter. AGF Management Ltd.’s holdings in Wheaton Precious Metals were worth $10,030,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of WPM. Pacer Advisors Inc. increased its position in Wheaton Precious Metals by 2.9% during the first quarter. Pacer Advisors Inc. now owns 4,144 shares of the company’s stock worth $322,000 after purchasing an additional 117 shares during the last quarter. Asahi Life Asset Management CO. LTD. grew its stake in shares of Wheaton Precious Metals by 2.8% during the 1st quarter. Asahi Life Asset Management CO. LTD. now owns 5,070 shares of the company’s stock valued at $393,000 after buying an additional 140 shares during the period. Avantax Advisory Services Inc. increased its holdings in shares of Wheaton Precious Metals by 2.1% during the 1st quarter. Avantax Advisory Services Inc. now owns 6,737 shares of the company’s stock worth $523,000 after buying an additional 140 shares during the last quarter. HB Wealth Management LLC increased its holdings in shares of Wheaton Precious Metals by 3.2% during the 2nd quarter. HB Wealth Management LLC now owns 5,068 shares of the company’s stock worth $455,000 after buying an additional 156 shares during the last quarter. Finally, City State Bank raised its position in shares of Wheaton Precious Metals by 40.0% in the 2nd quarter. City State Bank now owns 560 shares of the company’s stock worth $50,000 after buying an additional 160 shares during the period. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Up 2.9%

WPM stock opened at $99.05 on Friday. The stock’s 50 day moving average is $104.02 and its two-hundred day moving average is $94.61. Wheaton Precious Metals Corp. has a 52-week low of $55.47 and a 52-week high of $114.36. The company has a market capitalization of $44.97 billion, a PE ratio of 57.25, a P/E/G ratio of 1.67 and a beta of 0.38.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Thursday, November 6th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.59 by $0.03. The company had revenue of $476.26 million during the quarter, compared to analysts’ expectations of $495.53 million. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.The business’s revenue was up 54.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.34 EPS. As a group, sell-side analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, November 20th will be paid a dividend of $0.165 per share. The ex-dividend date is Thursday, November 20th. This represents a $0.66 annualized dividend and a yield of 0.7%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 38.15%.

Wall Street Analyst Weigh In

WPM has been the subject of a number of research reports. Bank of America boosted their price target on Wheaton Precious Metals from $127.00 to $132.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. UBS Group boosted their target price on Wheaton Precious Metals from $118.00 to $122.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. BMO Capital Markets reissued an “outperform” rating on shares of Wheaton Precious Metals in a research report on Friday, August 8th. Scotiabank restated an “outperform” rating on shares of Wheaton Precious Metals in a report on Thursday, October 23rd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Wheaton Precious Metals in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $124.50.

Wheaton Precious Metals Company 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.