Caisse DE Depot ET Placement DU Quebec Purchases New Shares in Wheaton Precious Metals Corp. (NYSE:WPM)

Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 85,919 shares of the company’s stock, valued at approximately $5,253,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its stake in shares of Wheaton Precious Metals by 1.0% during the second quarter. Van ECK Associates Corp now owns 19,984,984 shares of the company’s stock valued at $1,047,621,000 after purchasing an additional 197,426 shares during the last quarter. FMR LLC increased its stake in shares of Wheaton Precious Metals by 33.7% in the 3rd quarter. FMR LLC now owns 14,665,913 shares of the company’s stock valued at $895,723,000 after buying an additional 3,692,594 shares during the period. TD Asset Management Inc raised its position in shares of Wheaton Precious Metals by 22.5% during the second quarter. TD Asset Management Inc now owns 5,950,317 shares of the company’s stock worth $311,920,000 after acquiring an additional 1,092,480 shares during the last quarter. Cibc World Market Inc. boosted its holdings in Wheaton Precious Metals by 3.1% in the second quarter. Cibc World Market Inc. now owns 3,574,648 shares of the company’s stock valued at $187,490,000 after acquiring an additional 108,976 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Wheaton Precious Metals by 22.5% in the third quarter. The Manufacturers Life Insurance Company now owns 3,456,230 shares of the company’s stock worth $211,207,000 after purchasing an additional 634,843 shares during the period. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on WPM shares. Jefferies Financial Group raised their target price on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, October 4th. UBS Group began coverage on shares of Wheaton Precious Metals in a report on Monday, November 18th. They set a “buy” rating and a $78.00 target price for the company. TD Securities increased their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, November 8th. National Bank Financial raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Finally, Raymond James increased their target price on Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $71.67.

Wheaton Precious Metals Price Performance

Shares of Wheaton Precious Metals stock opened at $61.48 on Tuesday. The company has a market capitalization of $27.89 billion, a P/E ratio of 45.88, a price-to-earnings-growth ratio of 1.75 and a beta of 0.77. The business has a 50-day moving average of $62.99 and a two-hundred day moving average of $59.43. Wheaton Precious Metals Corp. has a 1 year low of $38.57 and a 1 year high of $68.64.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.34. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The business had revenue of $308.25 million during the quarter, compared to analysts’ expectations of $324.57 million. During the same period in the prior year, the business earned $0.27 EPS. On average, equities analysts anticipate that Wheaton Precious Metals Corp. will post 1.44 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Thursday, November 21st will be given a $0.155 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.62 annualized dividend and a yield of 1.01%. Wheaton Precious Metals’s dividend payout ratio is currently 46.27%.

Wheaton Precious Metals 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.