Dixon Mitchell Investment Counsel Inc. Increases Position in Wheaton Precious Metals Corp. $WPM

Dixon Mitchell Investment Counsel Inc. increased its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 11.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 935,270 shares of the company’s stock after purchasing an additional 96,400 shares during the period. Wheaton Precious Metals accounts for 3.6% of Dixon Mitchell Investment Counsel Inc.’s portfolio, making the stock its 10th largest position. Dixon Mitchell Investment Counsel Inc. owned approximately 0.21% of Wheaton Precious Metals worth $109,847,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in WPM. Norges Bank bought a new stake in Wheaton Precious Metals during the 4th quarter valued at $864,977,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Wheaton Precious Metals by 36.2% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,955,810 shares of the company’s stock valued at $777,938,000 after acquiring an additional 1,847,977 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Wheaton Precious Metals by 40.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,912,588 shares of the company’s stock valued at $694,951,000 after acquiring an additional 1,715,540 shares in the last quarter. Van ECK Associates Corp raised its stake in Wheaton Precious Metals by 10.7% during the 4th quarter. Van ECK Associates Corp now owns 14,469,877 shares of the company’s stock valued at $1,700,517,000 after acquiring an additional 1,402,092 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in Wheaton Precious Metals by 26.1% during the 3rd quarter. Bank of Montreal Can now owns 6,455,675 shares of the company’s stock valued at $722,270,000 after acquiring an additional 1,335,588 shares in the last quarter. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Up 3.0%

Shares of NYSE WPM opened at $116.09 on Friday. The stock has a market capitalization of $52.72 billion, a price-to-earnings ratio of 29.31, a PEG ratio of 2.19 and a beta of 0.51. The stock’s fifty day simple moving average is $132.81 and its 200 day simple moving average is $131.73. Wheaton Precious Metals Corp. has a 52-week low of $85.59 and a 52-week high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.04. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.The business had revenue of $901.47 million for the quarter, compared to analysts’ expectations of $868.35 million. During the same period in the previous year, the firm posted $0.55 EPS. The company’s quarterly revenue was up 91.7% on a year-over-year basis. As a group, analysts anticipate that Wheaton Precious Metals Corp. will post 4.98 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th were issued a dividend of $0.195 per share. The ex-dividend date was Wednesday, May 27th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.7%. Wheaton Precious Metals’s payout ratio is currently 19.70%.

Analyst Ratings Changes

WPM has been the topic of several recent analyst reports. Scotiabank lifted their target price on Wheaton Precious Metals from $178.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. BMO Capital Markets initiated coverage on Wheaton Precious Metals in a research note on Thursday, April 9th. They set an “outperform” rating and a $240.00 target price on the stock. UBS Group raised Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 target price on the stock in a research note on Friday, March 27th. TD Securities lifted their target price on Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Finally, Zacks Research downgraded Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. Thirteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Wheaton Precious Metals has an average rating of “Moderate Buy” and an average price target of $155.64.

Wheaton Precious Metals Profile

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.