Toronto Dominion Bank Purchases 752,009 Shares of Wheaton Precious Metals Corp (NYSE:WPM)
Toronto Dominion Bank lifted its stake in shares of Wheaton Precious Metals Corp (NYSE:WPM) by 114.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,406,765 shares of the company’s stock after purchasing an additional 752,009 shares during the period. Toronto Dominion Bank owned approximately 0.31% of Wheaton Precious Metals worth $61,871,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC increased its holdings in Wheaton Precious Metals by 30.2% in the second quarter. FMR LLC now owns 13,718,202 shares of the company’s stock valued at $603,353,000 after purchasing an additional 3,179,722 shares during the last quarter. FIL Ltd boosted its stake in Wheaton Precious Metals by 6.6% during the 2nd quarter. FIL Ltd now owns 11,975,793 shares of the company’s stock worth $526,720,000 after acquiring an additional 739,637 shares during the last quarter. Royal Bank of Canada increased its stake in Wheaton Precious Metals by 54.6% in the first quarter. Royal Bank of Canada now owns 10,269,691 shares of the company’s stock valued at $282,723,000 after purchasing an additional 3,628,061 shares in the last quarter. Capital World Investors acquired a new stake in Wheaton Precious Metals in the first quarter worth $174,577,000. Finally, Carmignac Gestion boosted its position in shares of Wheaton Precious Metals by 21.0% during the first quarter. Carmignac Gestion now owns 3,998,623 shares of the company’s stock worth $110,085,000 after purchasing an additional 693,773 shares in the last quarter. 59.45% of the stock is owned by institutional investors.
A number of research analysts have issued reports on the company. TD Securities boosted their target price on Wheaton Precious Metals from $55.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, August 17th. Deutsche Bank increased their target price on Wheaton Precious Metals from $42.00 to $44.00 and gave the stock a “hold” rating in a research note on Wednesday, June 17th. Barclays lowered shares of Wheaton Precious Metals from an “equal weight” rating to an “underweight” rating and lifted their price target for the company from $31.00 to $38.00 in a research note on Monday, July 20th. They noted that the move was a valuation call. Credit Suisse Group boosted their price objective on shares of Wheaton Precious Metals from $57.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. Finally, Raymond James increased their target price on Wheaton Precious Metals from $51.00 to $58.00 and gave the stock an “outperform” rating in a report on Monday, August 17th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. Wheaton Precious Metals currently has a consensus rating of “Hold” and an average target price of $50.36.
Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Wednesday, August 12th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.03. Wheaton Precious Metals had a net margin of 37.30% and a return on equity of 6.50%. As a group, analysts expect that Wheaton Precious Metals Corp will post 1.02 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Thursday, August 27th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend was Wednesday, August 26th. Wheaton Precious Metals’s dividend payout ratio is currently 71.43%.
About Wheaton Precious Metals
Wheaton Precious Metals Corp., a mining company, primarily sells precious metals in Canada and internationally. The company sells silver and gold ores. It has agreements for 19 operating mines and 9 development stage projects. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp.
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