TD Asset Management Inc Purchases 1,092,480 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

TD Asset Management Inc boosted its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 22.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,950,317 shares of the company’s stock after buying an additional 1,092,480 shares during the quarter. TD Asset Management Inc owned approximately 1.31% of Wheaton Precious Metals worth $311,920,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Fisher Asset Management LLC bought a new position in shares of Wheaton Precious Metals during the fourth quarter valued at $260,000. Private Advisor Group LLC lifted its holdings in Wheaton Precious Metals by 7.9% during the 4th quarter. Private Advisor Group LLC now owns 90,953 shares of the company’s stock worth $4,488,000 after buying an additional 6,697 shares during the period. Principal Securities Inc. bought a new stake in shares of Wheaton Precious Metals in the 4th quarter valued at about $39,000. Van Hulzen Asset Management LLC acquired a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at about $3,983,000. Finally, Canoe Financial LP raised its position in shares of Wheaton Precious Metals by 2.9% during the fourth quarter. Canoe Financial LP now owns 1,840,845 shares of the company’s stock worth $90,816,000 after acquiring an additional 52,374 shares during the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Stock Performance

Wheaton Precious Metals stock opened at $60.33 on Thursday. The stock has a market cap of $27.36 billion, a PE ratio of 45.91, a price-to-earnings-growth ratio of 2.28 and a beta of 0.76. Wheaton Precious Metals Corp. has a fifty-two week low of $38.37 and a fifty-two week high of $63.06. The firm’s 50-day simple moving average is $58.43 and its 200 day simple moving average is $53.15.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $299.06 million for the quarter, compared to analyst estimates of $309.54 million. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. Wheaton Precious Metals’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the company posted $0.31 earnings per share. As a group, analysts predict that Wheaton Precious Metals Corp. will post 1.39 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were given a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Wednesday, August 21st. Wheaton Precious Metals’s dividend payout ratio is 47.69%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. BMO Capital Markets increased their price objective on shares of Wheaton Precious Metals from $59.00 to $61.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 21st. TD Securities lowered their price objective on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Berenberg Bank raised their target price on Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Jefferies Financial Group increased their price target on Wheaton Precious Metals from $62.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Finally, Bank of America upped their target price on Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $67.50.

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.