TD Asset Management Inc. Acquires 629,743 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

TD Asset Management Inc. increased its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 9.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,156,818 shares of the company’s stock after acquiring an additional 629,743 shares during the quarter. TD Asset Management Inc. owned about 1.58% of Wheaton Precious Metals worth $402,627,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of Wheaton Precious Metals in the 4th quarter worth about $20,790,000. Charles Schwab Investment Management Inc. lifted its holdings in Wheaton Precious Metals by 4.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 955,540 shares of the company’s stock worth $58,422,000 after buying an additional 36,970 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Wheaton Precious Metals during the 3rd quarter valued at approximately $1,287,000. CWA Asset Management Group LLC grew its holdings in shares of Wheaton Precious Metals by 19.7% during the 4th quarter. CWA Asset Management Group LLC now owns 163,514 shares of the company’s stock worth $9,196,000 after acquiring an additional 26,924 shares during the period. Finally, Wellington Management Group LLP grew its holdings in shares of Wheaton Precious Metals by 42.7% during the 3rd quarter. Wellington Management Group LLP now owns 133,627 shares of the company’s stock worth $8,170,000 after acquiring an additional 39,979 shares during the period. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Performance

NYSE:WPM opened at $74.96 on Tuesday. The firm has a market cap of $34.01 billion, a P/E ratio of 55.94, a P/E/G ratio of 1.91 and a beta of 0.77. Wheaton Precious Metals Corp. has a fifty-two week low of $44.57 and a fifty-two week high of $77.44. The firm has a 50-day simple moving average of $66.95 and a two-hundred day simple moving average of $63.32.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Thursday, March 13th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The firm had revenue of $380.52 million for the quarter, compared to analysts’ expectations of $395.74 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The company’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 EPS. On average, equities research analysts predict that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.165 per share. This is an increase from Wheaton Precious Metals’s previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Tuesday, April 1st. Wheaton Precious Metals’s dividend payout ratio is presently 56.90%.

Analysts Set New Price Targets

Several research firms recently weighed in on WPM. Stifel Canada upgraded Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Scotiabank boosted their target price on shares of Wheaton Precious Metals from $78.00 to $79.00 and gave the company a “sector outperform” rating in a report on Monday, March 17th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $72.44.

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.