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

Connor Clark & Lunn Investment Management Ltd. boosted its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 5.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,596,494 shares of the company’s stock after purchasing an additional 130,952 shares during the quarter. Wheaton Precious Metals comprises about 0.8% of Connor Clark & Lunn Investment Management Ltd.’s holdings, making the stock its 25th largest position. Connor Clark & Lunn Investment Management Ltd. owned 0.57% of Wheaton Precious Metals worth $233,648,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WPM. Pacer Advisors Inc. grew its holdings in shares of Wheaton Precious Metals by 2.9% during the first quarter. Pacer Advisors Inc. now owns 4,144 shares of the company’s stock worth $322,000 after buying an additional 117 shares in the last quarter. Asahi Life Asset Management CO. LTD. lifted its stake in shares of Wheaton Precious Metals by 2.8% during the first quarter. Asahi Life Asset Management CO. LTD. now owns 5,070 shares of the company’s stock valued at $393,000 after buying an additional 140 shares during the period. Avantax Advisory Services Inc. boosted its position in Wheaton Precious Metals by 2.1% during the first quarter. Avantax Advisory Services Inc. now owns 6,737 shares of the company’s stock worth $523,000 after acquiring an additional 140 shares during the last quarter. HB Wealth Management LLC grew its stake in Wheaton Precious Metals by 3.2% in the 2nd quarter. HB Wealth Management LLC now owns 5,068 shares of the company’s stock worth $455,000 after acquiring an additional 156 shares during the period. Finally, City State Bank grew its stake in Wheaton Precious Metals by 40.0% in the 2nd quarter. City State Bank now owns 560 shares of the company’s stock worth $50,000 after acquiring an additional 160 shares during the period. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on WPM shares. Bank of America increased their target price on Wheaton Precious Metals from $127.00 to $132.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. UBS Group increased their price objective on shares of Wheaton Precious Metals from $118.00 to $122.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of Wheaton Precious Metals in a research report on Wednesday, October 8th. CIBC upped their price target on shares of Wheaton Precious Metals from $135.00 to $160.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Finally, Raymond James Financial increased their price target on shares of Wheaton Precious Metals from $114.00 to $127.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $124.50.

Wheaton Precious Metals Stock Performance

Shares of NYSE:WPM opened at $99.05 on Friday. Wheaton Precious Metals Corp. has a 1 year low of $55.47 and a 1 year high of $114.36. The stock has a 50-day simple moving average of $104.02 and a 200-day simple moving average of $94.61. The stock has a market capitalization of $44.97 billion, a P/E ratio of 57.25, a PEG ratio of 1.67 and a beta of 0.38.

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

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, November 20th will be issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.7%. The ex-dividend date is Thursday, November 20th. Wheaton Precious Metals’s dividend payout ratio is currently 38.15%.

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.