Great West Life Assurance Co. Can Reduces Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Great West Life Assurance Co. Can decreased its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 18.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 766,338 shares of the company’s stock after selling 169,796 shares during the period. Great West Life Assurance Co. Can’s holdings in Wheaton Precious Metals were worth $33,735,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in WPM. Wagner Wealth Management LLC purchased a new stake in Wheaton Precious Metals during the 1st quarter worth $31,000. Ameritas Investment Company LLC purchased a new stake in Wheaton Precious Metals during the 1st quarter worth $35,000. Harbour Investments Inc. purchased a new stake in Wheaton Precious Metals during the 1st quarter worth $36,000. Eaton Vance Management bought a new stake in shares of Wheaton Precious Metals in the 1st quarter worth about $40,000. Finally, FormulaFolio Investments LLC bought a new stake in shares of Wheaton Precious Metals in the 1st quarter worth about $45,000. 55.50% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have recently weighed in on the stock. KeyCorp assumed coverage on shares of Wheaton Precious Metals in a research report on Friday. They issued an “overweight” rating and a $47.00 target price for the company. Berenberg Bank reissued a “buy” rating on shares of Wheaton Precious Metals in a research report on Thursday, July 8th. Finally, Raymond James set a $60.00 target price on shares of Wheaton Precious Metals and gave the stock an “outperform” rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Wheaton Precious Metals presently has an average rating of “Buy” and a consensus price target of $57.27.

NYSE WPM opened at $39.29 on Friday. Wheaton Precious Metals Corp. has a one year low of $34.85 and a one year high of $51.43. The company has a 50-day simple moving average of $43.92 and a 200-day simple moving average of $43.59. The firm has a market capitalization of $17.69 billion, a PE ratio of 27.87, a price-to-earnings-growth ratio of 5.91 and a beta of 0.32.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Thursday, August 12th. The company reported $0.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.01). The business had revenue of $330.39 million during the quarter, compared to analyst estimates of $320.49 million. Wheaton Precious Metals had a net margin of 50.90% and a return on equity of 10.84%. Equities research analysts expect that Wheaton Precious Metals Corp. will post 1.51 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 9th. Shareholders of record on Friday, August 27th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.53%. This is a positive change from Wheaton Precious Metals’s previous quarterly dividend of $0.14. The ex-dividend date was Thursday, August 26th. Wheaton Precious Metals’s payout ratio is presently 53.57%.

About Wheaton Precious Metals

Wheaton Precious Metals Corp. is a mining company, which engages in the sale of precious metals and cobalt production. It operates through the following segments: Gold, Silver, Palladium, Cobalt, and Other. It focuses on the following precious metals streams: Salobo, Penasquito, Antamina, Constancia, Stillwater, San Dimas, Sudhury, Zinkgruvan, Yauliyacu, Neves-Corvo, Pascua-Lama, Rosemont, Voisey’s Bay, and others.

Featured Story: What is the operating income formula?

Want to see what other hedge funds are holding WPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wheaton Precious Metals Corp. (NYSE:WPM).

Institutional Ownership by Quarter for Wheaton Precious Metals (NYSE:WPM)

Receive News & Ratings for Wheaton Precious Metals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wheaton Precious Metals and related companies with MarketBeat.com's FREE daily email newsletter.