Wheaton Precious Metals Corp. $WPM Holdings Lifted by Dixon Mitchell Investment Counsel Inc.

Dixon Mitchell Investment Counsel Inc. increased its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 11.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 935,270 shares of the company’s stock after purchasing an additional 96,400 shares during the quarter. Wheaton Precious Metals makes up 3.6% of Dixon Mitchell Investment Counsel Inc.’s investment portfolio, making the stock its 10th largest position. Dixon Mitchell Investment Counsel Inc.’s holdings in Wheaton Precious Metals were worth $109,847,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Assetmark Inc. boosted its position in Wheaton Precious Metals by 144.4% during the fourth quarter. Assetmark Inc. now owns 220 shares of the company’s stock valued at $26,000 after purchasing an additional 130 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its position in Wheaton Precious Metals by 100.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock valued at $27,000 after purchasing an additional 117 shares during the last quarter. Cary Street Partners Investment Advisory LLC acquired a new stake in Wheaton Precious Metals during the fourth quarter valued at $28,000. Navalign LLC acquired a new stake in Wheaton Precious Metals during the fourth quarter valued at $30,000. Finally, Eagle Bay Advisors LLC acquired a new stake in Wheaton Precious Metals during the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WPM. TD Cowen lifted their price objective on Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, March 16th. TD Securities lifted their price objective on Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, March 16th. Scotiabank lifted their price objective on Wheaton Precious Metals from $178.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Zacks Research cut Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Finally, UBS Group raised Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 price objective for the company in a research report on Friday, March 27th. Thirteen analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $155.64.

Wheaton Precious Metals Price Performance

Shares of NYSE:WPM opened at $116.09 on Friday. Wheaton Precious Metals Corp. has a fifty-two week low of $85.59 and a fifty-two week high of $165.76. The business has a 50-day moving average of $132.81 and a two-hundred day moving average of $131.73. The stock has a market capitalization of $52.72 billion, a P/E ratio of 29.31, a P/E/G ratio of 2.19 and a beta of 0.51.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.04. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.The company had revenue of $901.47 million during the quarter, compared to analysts’ expectations of $868.35 million. During the same quarter in the previous year, the firm earned $0.55 earnings per share. The business’s quarterly revenue was up 91.7% compared to the same quarter last year. As a group, research analysts expect that Wheaton Precious Metals Corp. will post 4.98 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th were given a $0.195 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.7%. Wheaton Precious Metals’s payout ratio is currently 19.70%.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.