Wheaton Precious Metals Corp. (NYSE:WPM) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 5.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,409 shares of the company’s stock after acquiring an additional 1,768 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Wheaton Precious Metals were worth $2,041,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its position in Wheaton Precious Metals by 1.0% during the 2nd quarter. Van ECK Associates Corp now owns 19,984,984 shares of the company’s stock worth $1,047,621,000 after purchasing an additional 197,426 shares during the period. TD Asset Management Inc grew its holdings in Wheaton Precious Metals by 22.5% during the second quarter. TD Asset Management Inc now owns 5,950,317 shares of the company’s stock worth $311,920,000 after acquiring an additional 1,092,480 shares during the period. Cibc World Market Inc. raised its position in Wheaton Precious Metals by 3.1% in the second quarter. Cibc World Market Inc. now owns 3,574,648 shares of the company’s stock worth $187,490,000 after acquiring an additional 108,976 shares in the last quarter. CIBC Asset Management Inc raised its position in Wheaton Precious Metals by 10.6% in the third quarter. CIBC Asset Management Inc now owns 2,273,160 shares of the company’s stock worth $140,099,000 after acquiring an additional 218,575 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in Wheaton Precious Metals by 19.2% in the second quarter. Canada Pension Plan Investment Board now owns 1,860,608 shares of the company’s stock valued at $97,535,000 after acquiring an additional 300,000 shares during the period. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Down 4.5 %

Shares of NYSE:WPM opened at $60.94 on Tuesday. The company has a market capitalization of $27.65 billion, a P/E ratio of 45.48, a P/E/G ratio of 2.33 and a beta of 0.77. Wheaton Precious Metals Corp. has a 52-week low of $38.57 and a 52-week high of $68.64. The stock’s fifty day simple moving average is $63.01 and its 200-day simple moving average is $59.20.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.34. The company had revenue of $308.25 million for the quarter, compared to analyst estimates of $324.57 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. During the same period in the prior year, the firm earned $0.27 EPS. On average, sell-side analysts anticipate that Wheaton Precious Metals Corp. will post 1.44 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 21st will be paid a $0.155 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.62 annualized dividend and a yield of 1.02%. Wheaton Precious Metals’s payout ratio is currently 46.27%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on WPM shares. Stifel Canada cut shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Raymond James increased their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Scotiabank boosted their price target on Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Jefferies Financial Group raised their price objective on Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Finally, TD Securities boosted their target price on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $71.67.

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.