AGF Management Ltd. Trims Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

AGF Management Ltd. lessened its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 36.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 121,513 shares of the company’s stock after selling 68,234 shares during the period. AGF Management Ltd.’s holdings in Wheaton Precious Metals were worth $6,371,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. King Luther Capital Management Corp purchased a new position in Wheaton Precious Metals during the 4th quarter valued at about $6,154,000. Marketfield Asset Management LLC boosted its position in Wheaton Precious Metals by 61.0% during the 4th quarter. Marketfield Asset Management LLC now owns 88,025 shares of the company’s stock valued at $4,343,000 after acquiring an additional 33,337 shares in the last quarter. Financial Sense Advisors Inc. boosted its position in Wheaton Precious Metals by 54.0% during the 1st quarter. Financial Sense Advisors Inc. now owns 56,836 shares of the company’s stock valued at $2,679,000 after acquiring an additional 19,924 shares in the last quarter. Mediolanum International Funds Ltd bought a new stake in Wheaton Precious Metals during the 1st quarter valued at approximately $1,752,000. Finally, Alberta Investment Management Corp boosted its position in Wheaton Precious Metals by 0.8% during the 4th quarter. Alberta Investment Management Corp now owns 957,947 shares of the company’s stock valued at $47,491,000 after acquiring an additional 7,610 shares in the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on WPM shares. Jefferies Financial Group lifted their price objective on Wheaton Precious Metals from $62.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, July 12th. BMO Capital Markets lifted their price objective on Wheaton Precious Metals from $59.00 to $61.00 and gave the company an “outperform” rating in a research report on Tuesday, May 21st. CIBC boosted their price target on Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. Bank of America boosted their price target 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. Finally, TD Securities dropped their price target on Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $67.50.

Wheaton Precious Metals Trading Up 3.5 %

WPM stock opened at $61.37 on Friday. The stock has a market capitalization of $27.83 billion, a PE ratio of 47.21, a price-to-earnings-growth ratio of 2.13 and a beta of 0.78. Wheaton Precious Metals Corp. has a 12-month low of $38.37 and a 12-month high of $63.06. The stock’s 50 day simple moving average is $59.18 and its 200 day simple moving average is $53.80.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. The business had revenue of $299.06 million for the quarter, compared to analysts’ expectations of $309.54 million. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.31 EPS. On average, research analysts predict that Wheaton Precious Metals Corp. will post 1.4 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were paid a dividend of $0.155 per share. The ex-dividend date was Wednesday, August 21st. This represents a $0.62 dividend on an annualized basis and a yield of 1.01%. Wheaton Precious Metals’s dividend payout ratio is presently 47.69%.

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.