Wheaton Precious Metals Corp. $WPM Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 5.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,596,494 shares of the company’s stock after purchasing an additional 130,952 shares during the period. Wheaton Precious Metals makes up about 0.8% of Connor Clark & Lunn Investment Management Ltd.’s investment portfolio, making the stock its 25th largest position. Connor Clark & Lunn Investment Management Ltd.’s holdings in Wheaton Precious Metals were worth $233,648,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cerity Partners LLC raised its stake in Wheaton Precious Metals by 5.5% during the first quarter. Cerity Partners LLC now owns 20,271 shares of the company’s stock valued at $1,574,000 after buying an additional 1,058 shares in the last quarter. B.O.S.S. Retirement Advisors LLC acquired a new position in shares of Wheaton Precious Metals in the 2nd quarter worth approximately $218,000. Voya Investment Management LLC raised its position in shares of Wheaton Precious Metals by 18.0% during the 1st quarter. Voya Investment Management LLC now owns 747,477 shares of the company’s stock valued at $58,026,000 after acquiring an additional 113,835 shares in the last quarter. LGT Fund Management Co Ltd. bought a new position in Wheaton Precious Metals during the second quarter worth $225,000. Finally, Guardian Partners Inc. acquired a new position in Wheaton Precious Metals in the first quarter worth $538,000. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Bank of America increased their target price on shares of Wheaton Precious Metals from $127.00 to $132.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Wheaton Precious Metals in a research report on Wednesday, October 8th. Raymond James Financial lifted their target price on Wheaton Precious Metals from $114.00 to $127.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. Wall Street Zen raised Wheaton Precious Metals from a “hold” rating to a “buy” rating in a report on Monday, September 8th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Wheaton Precious Metals in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $124.50.

Wheaton Precious Metals Stock Up 2.9%

Wheaton Precious Metals stock opened at $99.05 on Friday. Wheaton Precious Metals Corp. has a 52-week low of $55.47 and a 52-week high of $114.36. The firm has a market capitalization of $44.97 billion, a price-to-earnings ratio of 57.25, a PEG ratio of 1.67 and a beta of 0.38. The firm has a 50-day moving average price of $104.02 and a two-hundred day moving average price of $94.61.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.59 by $0.03. The company had revenue of $476.26 million for the quarter, compared to analyst estimates of $495.53 million. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. Wheaton Precious Metals’s revenue was up 54.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.34 earnings per share. Research analysts expect that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Thursday, November 20th will be paid a dividend of $0.165 per share. The ex-dividend date of this dividend is Thursday, November 20th. This represents a $0.66 annualized dividend and a yield of 0.7%. Wheaton Precious Metals’s payout ratio is presently 38.15%.

Wheaton Precious Metals 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.