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

CIBC Asset Management Inc lifted its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 10.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,273,160 shares of the company’s stock after purchasing an additional 218,575 shares during the period. CIBC Asset Management Inc owned about 0.50% of Wheaton Precious Metals worth $140,099,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Metis Global Partners LLC increased its position in Wheaton Precious Metals by 15.2% during the third quarter. Metis Global Partners LLC now owns 55,050 shares of the company’s stock worth $3,362,000 after buying an additional 7,245 shares during the period. Plato Investment Management Ltd acquired a new position in shares of Wheaton Precious Metals in the 3rd quarter valued at $950,000. Empower Advisory Group LLC purchased a new stake in Wheaton Precious Metals in the 3rd quarter valued at $217,000. Apollon Wealth Management LLC raised its position in Wheaton Precious Metals by 47.7% in the 3rd quarter. Apollon Wealth Management LLC now owns 5,899 shares of the company’s stock valued at $360,000 after purchasing an additional 1,904 shares during the last quarter. Finally, Tyler Stone Wealth Management boosted its stake in Wheaton Precious Metals by 100.3% during the 3rd quarter. Tyler Stone Wealth Management now owns 4,253 shares of the company’s stock worth $260,000 after purchasing an additional 2,130 shares during the period. 70.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on WPM. Jefferies Financial Group increased their target price on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Raymond James boosted their target price on Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Stifel Canada downgraded Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Scotiabank upped 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 report on Monday, August 19th. Finally, National Bank Financial raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Wheaton Precious Metals currently has an average rating of “Moderate Buy” and an average price target of $70.88.

Wheaton Precious Metals Trading Up 0.5 %

Shares of NYSE WPM opened at $59.33 on Friday. The stock has a market cap of $26.91 billion, a price-to-earnings ratio of 44.28, a PEG ratio of 2.15 and a beta of 0.77. The company’s 50-day moving average price is $62.75 and its 200 day moving average price is $58.76. Wheaton Precious Metals Corp. has a 52 week low of $38.57 and a 52 week high of $68.64.

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

Wheaton Precious Metals Announces Dividend

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 dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Thursday, November 21st. Wheaton Precious Metals’s dividend payout ratio is presently 46.27%.

About Wheaton Precious Metals

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.