US Bancorp DE Raises Position in Wheaton Precious Metals Corp. $WPM

US Bancorp DE raised its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 4.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,358 shares of the company’s stock after buying an additional 457 shares during the period. US Bancorp DE’s holdings in Wheaton Precious Metals were worth $930,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Mission Wealth Management LP acquired a new position in Wheaton Precious Metals in the first quarter valued at $227,000. Janney Montgomery Scott LLC grew its position in shares of Wheaton Precious Metals by 10.1% in the first quarter. Janney Montgomery Scott LLC now owns 41,043 shares of the company’s stock valued at $3,186,000 after purchasing an additional 3,750 shares during the last quarter. QRG Capital Management Inc. acquired a new stake in Wheaton Precious Metals during the first quarter worth approximately $229,000. NBT Bank N A NY boosted its position in Wheaton Precious Metals by 129.3% during the first quarter. NBT Bank N A NY now owns 415 shares of the company’s stock worth $32,000 after acquiring an additional 234 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC boosted its position in Wheaton Precious Metals by 17.3% during the first quarter. Kingswood Wealth Advisors LLC now owns 7,716 shares of the company’s stock worth $598,000 after acquiring an additional 1,140 shares during the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Price Performance

NYSE WPM opened at $104.68 on Friday. Wheaton Precious Metals Corp. has a 12 month low of $55.47 and a 12 month high of $114.36. The company’s 50 day simple moving average is $103.49 and its 200 day simple moving average is $92.46. The company has a market capitalization of $47.52 billion, a P/E ratio of 60.51, a PEG ratio of 3.02 and a beta of 0.41.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. The business had revenue of $503.22 million for the quarter, compared to analyst estimates of $424.23 million. During the same quarter in the previous year, the business earned $0.33 earnings per share. The firm’s revenue was up 68.2% compared to the same quarter last year. On average, analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were issued a dividend of $0.165 per share. The ex-dividend date was Thursday, August 21st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.6%. Wheaton Precious Metals’s payout ratio is currently 38.15%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WPM. National Bankshares reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a research note on Tuesday, June 24th. CIBC boosted their target price on shares of Wheaton Precious Metals from $135.00 to $160.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Bank of America lifted their price target on shares of Wheaton Precious Metals from $127.00 to $132.00 and gave the company a “buy” rating in a report on Thursday. Wall Street Zen raised shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research note on Monday, September 8th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Wheaton Precious Metals in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and a consensus price target of $116.89.

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.