Desjardins Global Asset Management Inc. Has $1.55 Million Stock Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Desjardins Global Asset Management Inc. lessened its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 63.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,425 shares of the company’s stock after selling 55,241 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Wheaton Precious Metals were worth $1,551,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. CVA Family Office LLC acquired a new stake in Wheaton Precious Metals during the 4th quarter worth $26,000. Atlas Capital Advisors LLC acquired a new stake in Wheaton Precious Metals during the 4th quarter worth $29,000. McGlone Suttner Wealth Management Inc. acquired a new stake in Wheaton Precious Metals during the 4th quarter worth $31,000. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in Wheaton Precious Metals by 54.7% during the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 792 shares of the company’s stock worth $31,000 after buying an additional 280 shares during the period. Finally, Mechanics Financial Corp increased its holdings in Wheaton Precious Metals by 200.0% during the 3rd quarter. Mechanics Financial Corp now owns 900 shares of the company’s stock worth $36,000 after purchasing an additional 600 shares in the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on WPM. TD Securities upgraded Wheaton Precious Metals from a “hold” rating to a “buy” rating and increased their target price for the stock from $51.00 to $53.00 in a report on Monday, March 18th. Berenberg Bank increased their target price on Wheaton Precious Metals from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. BMO Capital Markets lowered their target price on Wheaton Precious Metals from $61.00 to $59.00 and set an “outperform” rating for the company in a report on Wednesday, February 21st. National Bank Financial cut Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a report on Wednesday, February 21st. Finally, CIBC increased their target price on Wheaton Precious Metals from $66.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Wheaton Precious Metals currently has a consensus rating of “Moderate Buy” and an average price target of $59.63.

Wheaton Precious Metals Stock Up 0.1 %

Shares of WPM stock opened at $51.27 on Wednesday. Wheaton Precious Metals Corp. has a 12-month low of $38.37 and a 12-month high of $54.30. The company has a market capitalization of $23.24 billion, a PE ratio of 43.08, a price-to-earnings-growth ratio of 7.19 and a beta of 0.77. The firm has a 50 day moving average price of $45.46 and a two-hundred day moving average price of $45.77.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Thursday, March 14th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.32 by $0.04. Wheaton Precious Metals had a net margin of 52.92% and a return on equity of 7.76%. The business had revenue of $313.47 million during the quarter, compared to the consensus estimate of $284.29 million. As a group, research analysts expect that Wheaton Precious Metals Corp. will post 1.24 EPS for the current year.

Wheaton Precious Metals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Wednesday, April 3rd were given a dividend of $0.155 per share. This is an increase from Wheaton Precious Metals’s previous quarterly dividend of $0.15. This represents a $0.62 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend was Tuesday, April 2nd. Wheaton Precious Metals’s payout ratio is currently 52.10%.

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.