Toronto Dominion Bank Sells 1,279,730 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Toronto Dominion Bank lessened its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 85.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 226,603 shares of the company’s stock after selling 1,279,730 shares during the period. Toronto Dominion Bank’s holdings in Wheaton Precious Metals were worth $10,680,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in WPM. CVA Family Office LLC bought a new position in Wheaton Precious Metals in the fourth quarter valued at about $26,000. McGlone Suttner Wealth Management Inc. acquired a new position in Wheaton Precious Metals in the fourth quarter valued at about $31,000. Principal Securities Inc. acquired a new position in Wheaton Precious Metals in the fourth quarter valued at about $39,000. Fifth Third Bancorp raised its position in shares of Wheaton Precious Metals by 230.7% during the fourth quarter. Fifth Third Bancorp now owns 863 shares of the company’s stock worth $43,000 after purchasing an additional 602 shares during the period. Finally, St. Johns Investment Management Company LLC acquired a new stake in shares of Wheaton Precious Metals during the first quarter worth about $52,000. Institutional investors own 70.34% of the company’s stock.

Analyst Upgrades and Downgrades

WPM has been the subject of a number of analyst reports. Bank of America raised their price target on Wheaton Precious Metals from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. BMO Capital Markets lifted their price target on Wheaton Precious Metals from $59.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. CIBC lifted their price objective on Wheaton Precious Metals from $75.00 to $80.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Scotiabank lifted their price objective on Wheaton Precious Metals from $59.00 to $66.50 and gave the company an “outperform” rating in a report on Thursday, May 23rd. Finally, Jefferies Financial Group lifted their price objective on Wheaton Precious Metals from $62.00 to $67.00 and gave the company a “buy” rating in a report on Friday, July 12th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Wheaton Precious Metals has an average rating of “Moderate Buy” and an average target price of $65.00.

Wheaton Precious Metals Price Performance

WPM stock traded down $0.44 during midday trading on Friday, reaching $58.30. 1,431,857 shares of the stock were exchanged, compared to its average volume of 1,860,904. The stock has a market capitalization of $26.44 billion, a PE ratio of 44.85, a P/E/G ratio of 2.27 and a beta of 0.76. Wheaton Precious Metals Corp. has a 52 week low of $38.37 and a 52 week high of $63.06. The company has a fifty day moving average price of $55.81 and a 200 day moving average price of $50.58.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. Wheaton Precious Metals had a return on equity of 8.53% and a net margin of 53.74%. The business had revenue of $296.80 million for the quarter, compared to analyst estimates of $278.95 million. During the same quarter in the previous year, the company posted $0.23 EPS. Wheaton Precious Metals’s quarterly revenue was up 38.7% compared to the same quarter last year. As a group, analysts anticipate that Wheaton Precious Metals Corp. will post 1.36 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 29th were given a $0.155 dividend. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.06%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 47.69%.

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.