Bank of Nova Scotia Has $109.52 Million Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Bank of Nova Scotia raised its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 0.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,411,181 shares of the company’s stock after acquiring an additional 165 shares during the quarter. Bank of Nova Scotia owned approximately 0.31% of Wheaton Precious Metals worth $109,523,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Capital International Investors acquired a new stake in shares of Wheaton Precious Metals during the 4th quarter worth about $263,810,000. Mackenzie Financial Corp lifted its stake in shares of Wheaton Precious Metals by 54.4% during the 4th quarter. Mackenzie Financial Corp now owns 3,223,154 shares of the company’s stock worth $181,227,000 after buying an additional 1,135,699 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Wheaton Precious Metals by 1,321.7% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,221,522 shares of the company’s stock worth $68,720,000 after buying an additional 1,135,603 shares during the last quarter. FMR LLC lifted its stake in shares of Wheaton Precious Metals by 5.9% during the 4th quarter. FMR LLC now owns 15,529,219 shares of the company’s stock worth $873,995,000 after buying an additional 863,306 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Wheaton Precious Metals by 33.1% during the 4th quarter. Geode Capital Management LLC now owns 2,664,542 shares of the company’s stock worth $151,134,000 after buying an additional 661,913 shares during the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Up 0.7%

WPM stock opened at $92.11 on Friday. Wheaton Precious Metals Corp. has a 12 month low of $53.05 and a 12 month high of $96.83. The firm has a market cap of $41.81 billion, a P/E ratio of 67.73, a P/E/G ratio of 2.56 and a beta of 0.39. The company’s 50-day moving average price is $90.31 and its two-hundred day moving average price is $79.23.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Thursday, May 8th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.50 by $0.05. Wheaton Precious Metals had a net margin of 42.45% and a return on equity of 10.32%. The firm had revenue of $470.41 million for the quarter, compared to analyst estimates of $446.33 million. During the same period last year, the firm earned $0.36 EPS. The business’s quarterly revenue was up 58.4% compared to the same quarter last year. Equities analysts predict that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, May 28th. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 48.53%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on WPM shares. Scotiabank raised their target price on shares of Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a “sector outperform” rating in a research note on Monday, April 14th. BMO Capital Markets started coverage on shares of Wheaton Precious Metals in a research note on Wednesday, April 16th. They set an “outperform” rating and a $129.00 target price for the company. National Bankshares reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research note on Tuesday, June 24th. Raymond James Financial lifted their price objective on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 15th. Finally, CIBC reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $93.00.

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.