Wheaton Precious Metals Corp. $WPM Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. trimmed its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 79.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,600 shares of the company’s stock after selling 67,750 shares during the period. Intact Investment Management Inc.’s holdings in Wheaton Precious Metals were worth $1,970,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Nisa Investment Advisors LLC acquired a new stake in Wheaton Precious Metals during the third quarter worth about $26,000. Delta Asset Management LLC TN bought a new position in shares of Wheaton Precious Metals during the second quarter valued at approximately $27,000. Root Financial Partners LLC acquired a new stake in shares of Wheaton Precious Metals during the 3rd quarter worth approximately $29,000. City State Bank lifted its holdings 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 purchasing an additional 160 shares during the last quarter. Finally, Pacifica Partners Inc. lifted its holdings in shares of Wheaton Precious Metals by 27.8% in the 3rd quarter. Pacifica Partners Inc. now owns 460 shares of the company’s stock worth $51,000 after purchasing an additional 100 shares during the last quarter. 70.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on WPM shares. Scotiabank reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Wheaton Precious Metals in a research report on Monday. Jefferies Financial Group reaffirmed a “buy” rating and issued a $145.00 price objective on shares of Wheaton Precious Metals in a report on Sunday, December 7th. UBS Group lifted their price objective on shares of Wheaton Precious Metals from $116.00 to $118.00 and gave the company a “neutral” rating in a research report on Monday, December 1st. CIBC upped their target price on shares of Wheaton Precious Metals from $135.00 to $160.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Finally, Bank of America raised their price target on shares of Wheaton Precious Metals from $127.00 to $132.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Wheaton Precious Metals has a consensus rating of “Moderate Buy” and an average price target of $136.00.

Wheaton Precious Metals Stock Up 1.2%

NYSE:WPM opened at $147.93 on Tuesday. The business’s 50-day moving average price is $119.08 and its 200 day moving average price is $106.88. Wheaton Precious Metals Corp. has a 52-week low of $58.31 and a 52-week high of $154.70. The firm has a market cap of $67.17 billion, a P/E ratio of 67.24, a PEG ratio of 1.34 and a beta of 0.52.

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

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, November 20th were paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Thursday, November 20th. Wheaton Precious Metals’s payout ratio is 30.00%.

Wheaton Precious Metals Profile

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.