Connor Clark & Lunn Investment Management Ltd. Decreases Stake in Wheaton Precious Metals Corp. (NYSE:WPM)

Connor Clark & Lunn Investment Management Ltd. lessened its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 35.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,406,091 shares of the company’s stock after selling 1,303,528 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Wheaton Precious Metals were worth $146,933,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Quent Capital LLC grew its stake in shares of Wheaton Precious Metals by 136.1% in the 1st quarter. Quent Capital LLC now owns 5,636 shares of the company’s stock worth $266,000 after buying an additional 3,249 shares in the last quarter. Vanguard Group Inc. grew its position in Wheaton Precious Metals by 1.7% in the first quarter. Vanguard Group Inc. now owns 16,770,475 shares of the company’s stock worth $790,392,000 after acquiring an additional 272,918 shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in Wheaton Precious Metals by 6.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 10,817 shares of the company’s stock worth $510,000 after acquiring an additional 656 shares during the last quarter. Clearbridge Investments LLC increased its stake in Wheaton Precious Metals by 2.8% during the first quarter. Clearbridge Investments LLC now owns 705,706 shares of the company’s stock worth $33,260,000 after acquiring an additional 19,473 shares during the last quarter. Finally, UniSuper Management Pty Ltd raised its position in Wheaton Precious Metals by 100.0% during the first quarter. UniSuper Management Pty Ltd now owns 6,400 shares of the company’s stock valued at $302,000 after purchasing an additional 3,200 shares during the period. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Price Performance

Shares of WPM stock opened at $62.60 on Wednesday. The company has a market capitalization of $28.40 billion, a P/E ratio of 46.72, a P/E/G ratio of 2.14 and a beta of 0.77. The company’s 50-day simple moving average is $62.87 and its two-hundred day simple moving average is $59.00. Wheaton Precious Metals Corp. has a one year low of $38.57 and a one year high of $68.64.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.34. The company had revenue of $308.25 million for the quarter, compared to analysts’ expectations of $324.57 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. During the same quarter in the prior year, the firm earned $0.27 earnings per share. On average, research analysts expect that Wheaton Precious Metals Corp. will post 1.44 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Thursday, November 21st will be issued a $0.155 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.62 annualized dividend and a dividend yield of 0.99%. Wheaton Precious Metals’s payout ratio is currently 46.27%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. National Bank Financial upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Raymond James lifted their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Stifel Canada downgraded shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Jefferies Financial Group lifted their price target on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Finally, Scotiabank increased their price objective on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Wheaton Precious Metals has an average rating of “Moderate Buy” and an average price target of $71.67.

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.