CIBC Asset Management Inc Raises Position in Wheaton Precious Metals Corp. (NYSE:WPM)

CIBC Asset Management Inc increased its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 10.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,273,160 shares of the company’s stock after purchasing an additional 218,575 shares during the period. CIBC Asset Management Inc’s holdings in Wheaton Precious Metals were worth $140,099,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Well Done LLC lifted its holdings in shares of Wheaton Precious Metals by 173.9% during the 3rd quarter. Well Done LLC now owns 38,108 shares of the company’s stock worth $2,328,000 after acquiring an additional 24,196 shares during the period. Forge First Asset Management Inc. purchased a new position in Wheaton Precious Metals during the first quarter worth approximately $4,817,000. Lighthouse Investment Partners LLC acquired a new position in shares of Wheaton Precious Metals in the 2nd quarter valued at $1,016,000. Vanguard Group Inc. grew its stake in shares of Wheaton Precious Metals by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 16,770,475 shares of the company’s stock valued at $790,392,000 after buying an additional 272,918 shares during the period. Finally, Natixis acquired a new stake in shares of Wheaton Precious Metals during the 1st quarter worth $529,000. 70.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on WPM. Jefferies Financial Group boosted their price target on Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Stifel Canada cut Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. National Bank Financial upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Scotiabank boosted their price objective on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Finally, TD Securities raised their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $70.88.

Wheaton Precious Metals Price Performance

Wheaton Precious Metals stock opened at $59.33 on Friday. Wheaton Precious Metals Corp. has a 12-month low of $38.57 and a 12-month high of $68.64. The firm’s fifty day moving average price is $62.75 and its 200 day moving average price is $58.76. The company has a market capitalization of $26.91 billion, a price-to-earnings ratio of 44.28, a price-to-earnings-growth ratio of 2.15 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.34. The firm had revenue of $308.25 million for the quarter, compared to analysts’ expectations of $324.57 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. During the same quarter in the prior year, the firm posted $0.27 earnings per share. Analysts forecast that Wheaton Precious Metals Corp. will post 1.44 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Thursday, November 21st will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Thursday, November 21st. Wheaton Precious Metals’s dividend payout ratio (DPR) is 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.