LGT Fund Management Co Ltd. Buys Shares of 8,000 Wheaton Precious Metals Corp. (NYSE:WPM)

LGT Fund Management Co Ltd. bought a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,000 shares of the company’s stock, valued at approximately $419,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. First Eagle Investment Management LLC lifted its stake in Wheaton Precious Metals by 1.4% during the 1st quarter. First Eagle Investment Management LLC now owns 21,403,409 shares of the company’s stock valued at $1,008,743,000 after acquiring an additional 292,968 shares during the period. Van ECK Associates Corp lifted its stake in shares of Wheaton Precious Metals by 1.0% in the 2nd quarter. Van ECK Associates Corp now owns 19,984,984 shares of the company’s stock worth $1,047,621,000 after purchasing an additional 197,426 shares during the period. Vanguard Group Inc. lifted its stake in shares of Wheaton Precious Metals by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 16,770,475 shares of the company’s stock worth $790,392,000 after purchasing an additional 272,918 shares during the period. FIL Ltd lifted its stake in shares of Wheaton Precious Metals by 5.5% in the 4th quarter. FIL Ltd now owns 10,646,479 shares of the company’s stock worth $525,235,000 after purchasing an additional 550,804 shares during the period. Finally, Norges Bank bought a new position in shares of Wheaton Precious Metals in the 4th quarter worth approximately $387,481,000. Institutional investors own 70.34% of the company’s stock.

Analyst Ratings Changes

WPM has been the topic of several recent research reports. Jefferies Financial Group increased their price objective on shares of Wheaton Precious Metals from $62.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Berenberg Bank increased their price objective on shares of Wheaton Precious Metals from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. CIBC raised their target price on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Bank of America raised their target price on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Finally, TD Securities decreased their target price on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $67.50.

Wheaton Precious Metals Price Performance

Wheaton Precious Metals stock opened at $59.41 on Wednesday. The stock has a market cap of $26.95 billion, a P/E ratio of 45.70, a PEG ratio of 2.13 and a beta of 0.78. Wheaton Precious Metals Corp. has a 1 year low of $38.37 and a 1 year high of $63.06. The firm’s 50 day moving average price is $58.95 and its 200-day moving average price is $53.71.

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

Wheaton Precious Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend was Wednesday, August 21st. Wheaton Precious Metals’s payout ratio is currently 47.69%.

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.