Dixon Mitchell Investment Counsel Inc. Trims Stock Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Dixon Mitchell Investment Counsel Inc. decreased its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 0.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 790,380 shares of the company’s stock after selling 872 shares during the period. Wheaton Precious Metals makes up approximately 2.1% of Dixon Mitchell Investment Counsel Inc.’s portfolio, making the stock its 23rd biggest position. Dixon Mitchell Investment Counsel Inc.’s holdings in Wheaton Precious Metals were worth $44,501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of WPM. Envestnet Asset Management Inc. raised its position in shares of Wheaton Precious Metals by 7.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 56,849 shares of the company’s stock worth $2,980,000 after buying an additional 4,098 shares during the period. Dimensional Fund Advisors LP increased its stake in Wheaton Precious Metals by 4.5% during the second quarter. Dimensional Fund Advisors LP now owns 569,011 shares of the company’s stock worth $29,829,000 after acquiring an additional 24,428 shares during the last quarter. Argent Trust Co raised its holdings in shares of Wheaton Precious Metals by 31.4% in the 2nd quarter. Argent Trust Co now owns 17,905 shares of the company’s stock worth $939,000 after purchasing an additional 4,278 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Wheaton Precious Metals by 9.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,374 shares of the company’s stock worth $792,000 after purchasing an additional 1,358 shares during the period. Finally, Intech Investment Management LLC acquired a new position in shares of Wheaton Precious Metals in the 2nd quarter valued at about $214,000. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on WPM. National Bank Financial raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Raymond James increased their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. UBS Group assumed coverage on shares of Wheaton Precious Metals in a report on Monday, November 18th. They set a “buy” rating and a $78.00 target price on the stock. TD Securities increased their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Jefferies Financial Group boosted their price objective on Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Wheaton Precious Metals has an average rating of “Moderate Buy” and a consensus target price of $71.67.

Wheaton Precious Metals Trading Up 0.7 %

Shares of NYSE:WPM opened at $58.56 on Thursday. The firm’s 50 day moving average is $59.80 and its two-hundred day moving average is $60.38. The firm has a market capitalization of $26.57 billion, a P/E ratio of 43.70, a PEG ratio of 1.28 and a beta of 0.76. 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 posted its earnings results on Friday, November 8th. The company reported $0.34 EPS for the quarter, meeting the consensus estimate of $0.34. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The firm had revenue of $308.25 million for the quarter, compared to analysts’ expectations of $324.57 million. During the same period last year, the firm earned $0.27 EPS. Analysts predict that Wheaton Precious Metals Corp. will post 1.45 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Thursday, November 21st were paid a dividend of $0.155 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.06%. Wheaton Precious Metals’s dividend payout ratio is presently 46.27%.

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.