TD Asset Management Inc. Buys 629,743 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

TD Asset Management Inc. raised its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 9.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,156,818 shares of the company’s stock after buying an additional 629,743 shares during the period. TD Asset Management Inc.’s holdings in Wheaton Precious Metals were worth $402,627,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in Wheaton Precious Metals during the fourth quarter valued at $20,790,000. Charles Schwab Investment Management Inc. grew its stake in shares of Wheaton Precious Metals by 4.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 955,540 shares of the company’s stock valued at $58,422,000 after purchasing an additional 36,970 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Wheaton Precious Metals during the 3rd quarter valued at about $1,287,000. CWA Asset Management Group LLC increased its position in shares of Wheaton Precious Metals by 19.7% during the 4th quarter. CWA Asset Management Group LLC now owns 163,514 shares of the company’s stock valued at $9,196,000 after purchasing an additional 26,924 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Wheaton Precious Metals by 42.7% in the 3rd quarter. Wellington Management Group LLP now owns 133,627 shares of the company’s stock worth $8,170,000 after purchasing an additional 39,979 shares during the period. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Stock Performance

WPM opened at $74.96 on Tuesday. The stock has a market cap of $34.01 billion, a price-to-earnings ratio of 55.94, a price-to-earnings-growth ratio of 1.91 and a beta of 0.77. The firm’s fifty day moving average is $66.95 and its 200 day moving average is $63.32. Wheaton Precious Metals Corp. has a fifty-two week low of $44.57 and a fifty-two week high of $77.44.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Thursday, March 13th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01). The business had revenue of $380.52 million during the quarter, compared to analysts’ expectations of $395.74 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. Wheaton Precious Metals’s revenue was up 21.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.36 earnings per share. On average, equities research analysts predict that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be issued a $0.165 dividend. The ex-dividend date is Tuesday, April 1st. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a yield of 0.88%. Wheaton Precious Metals’s payout ratio is currently 56.90%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WPM. Scotiabank boosted their target price on shares of Wheaton Precious Metals from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research report on Monday, March 17th. Stifel Canada raised shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $72.44.

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.