PNC Financial Services Group Inc. Boosts Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

PNC Financial Services Group Inc. lifted its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 5.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,409 shares of the company’s stock after acquiring an additional 1,768 shares during the period. PNC Financial Services Group Inc.’s holdings in Wheaton Precious Metals were worth $2,041,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Canoe Financial LP acquired a new position in Wheaton Precious Metals during the third quarter worth approximately $113,017,000. AMF Tjanstepension AB increased its holdings in shares of Wheaton Precious Metals by 593.5% during the 2nd quarter. AMF Tjanstepension AB now owns 1,608,134 shares of the company’s stock worth $84,388,000 after buying an additional 1,376,231 shares during the last quarter. Barings LLC purchased a new position in shares of Wheaton Precious Metals in the 2nd quarter worth $65,405,000. TD Asset Management Inc boosted its holdings in Wheaton Precious Metals by 22.5% in the second quarter. TD Asset Management Inc now owns 5,950,317 shares of the company’s stock valued at $311,920,000 after acquiring an additional 1,092,480 shares during the last quarter. Finally, Tidal Investments LLC grew its position in Wheaton Precious Metals by 2,565.0% during the first quarter. Tidal Investments LLC now owns 722,829 shares of the company’s stock valued at $34,049,000 after acquiring an additional 695,706 shares during the period. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Price Performance

NYSE:WPM opened at $60.94 on Tuesday. Wheaton Precious Metals Corp. has a 1-year low of $38.57 and a 1-year high of $68.64. The stock has a market cap of $27.65 billion, a P/E ratio of 45.48, a PEG ratio of 2.33 and a beta of 0.77. The firm has a 50-day moving average of $63.01 and a two-hundred day moving average of $59.20.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.34 EPS for the quarter, meeting analysts’ consensus estimates of $0.34. The firm had revenue of $308.25 million during the quarter, compared to the consensus estimate 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 business posted $0.27 earnings per share. As a group, equities analysts expect that Wheaton Precious Metals Corp. will post 1.44 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Thursday, November 21st will be paid a $0.155 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.02%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 46.27%.

Analyst Upgrades and Downgrades

WPM has been the topic of a number of research reports. Scotiabank raised their price objective on Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Jefferies Financial Group lifted their price target on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Raymond James increased 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 report 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. Finally, National Bank Financial raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.