Wheaton Precious Metals Corp. (NYSE:WPM) Shares Bought by LGT Group Foundation

LGT Group Foundation raised its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 11.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 92,298 shares of the company’s stock after purchasing an additional 9,752 shares during the period. LGT Group Foundation’s holdings in Wheaton Precious Metals were worth $4,838,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Ridgewood Investments LLC acquired a new position in shares of Wheaton Precious Metals in the 2nd quarter valued at approximately $31,000. Principal Securities Inc. acquired a new stake in shares of Wheaton Precious Metals during the 4th quarter valued at approximately $39,000. St. Johns Investment Management Company LLC acquired a new stake in shares of Wheaton Precious Metals during the 1st quarter valued at approximately $52,000. Western Pacific Wealth Management LP raised its position in shares of Wheaton Precious Metals by 47.6% during the 4th quarter. Western Pacific Wealth Management LP now owns 1,113 shares of the company’s stock valued at $55,000 after acquiring an additional 359 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of Wheaton Precious Metals by 25.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,231 shares of the company’s stock valued at $65,000 after acquiring an additional 253 shares in the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WPM. BMO Capital Markets upped their price target on Wheaton Precious Metals from $59.00 to $61.00 and gave the company an “outperform” rating in a research report on Tuesday, May 21st. TD Securities dropped their price target on Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. CIBC upped their price target on Wheaton Precious Metals from $75.00 to $80.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Bank of America upped their price target on Wheaton Precious Metals from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Finally, Scotiabank upped their price objective on Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.50.

Wheaton Precious Metals Stock Performance

NYSE:WPM opened at $58.56 on Tuesday. Wheaton Precious Metals Corp. has a 1 year low of $38.37 and a 1 year high of $63.06. The stock has a market cap of $26.57 billion, a price-to-earnings ratio of 45.05, a PEG ratio of 2.13 and a beta of 0.78. The business has a fifty day moving average of $58.81 and a 200-day moving average of $53.57.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.04. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The company had revenue of $299.06 million during the quarter, compared to analysts’ expectations of $309.54 million. During the same quarter in the prior year, the business posted $0.31 earnings per share. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, equities research analysts predict that Wheaton Precious Metals Corp. will post 1.4 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were paid a $0.155 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.62 annualized dividend and a dividend yield of 1.06%. Wheaton Precious Metals’s payout ratio is 47.69%.

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.