Allianz Asset Management GmbH Has $44.11 Million Stock Holdings in Wheaton Precious Metals Corp. $WPM

Key Points

• Allianz Asset Management GmbH reduced its stake in Wheaton Precious Metals Corp by 3.1%, owning approximately $44.11 million worth of shares after the sale.
• Wheaton Precious Metals reported a 68.2% increase in quarterly revenue, amounting to $503.22 million, and exceeded analysts' EPS estimates by $0.05, posting $0.63 per share.
• The company announced a quarterly dividend of $0.165, representing an annualized yield of 0.6%, with a payout ratio of 38.15%.

Allianz Asset Management GmbH trimmed its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 3.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 491,487 shares of the company's stock after selling 15,574 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.11% of Wheaton Precious Metals worth $44,109,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Astoria Portfolio Advisors LLC. increased its position in Wheaton Precious Metals by 12.3% during the 2nd quarter. Astoria Portfolio Advisors LLC. now owns 8,865 shares of the company's stock worth $833,000 after purchasing an additional 974 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in Wheaton Precious Metals by 44.9% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,813 shares of the company's stock worth $702,000 after purchasing an additional 2,421 shares in the last quarter. Yousif Capital Management LLC increased its position in Wheaton Precious Metals by 8.3% during the 2nd quarter. Yousif Capital Management LLC now owns 6,220 shares of the company's stock worth $559,000 after purchasing an additional 475 shares in the last quarter. MGO One Seven LLC increased its position in Wheaton Precious Metals by 9.1% during the 2nd quarter. MGO One Seven LLC now owns 19,073 shares of the company's stock worth $1,713,000 after purchasing an additional 1,588 shares in the last quarter. Finally, Lawson Kroeker Investment Management Inc. NE acquired a new position in Wheaton Precious Metals during the 2nd quarter worth approximately $224,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Stock Performance

Shares of NYSE WPM opened at $104.68 on Friday. The firm has a 50 day moving average price of $103.49 and a two-hundred day moving average price of $92.46. Wheaton Precious Metals Corp. has a 52-week low of $55.47 and a 52-week high of $114.36. The stock has a market cap of $47.52 billion, a P/E ratio of 60.51, a price-to-earnings-growth ratio of 3.02 and a beta of 0.41.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.63 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 company had revenue of $503.22 million for the quarter, compared to analyst estimates of $424.23 million. During the same period in the prior year, the firm posted $0.33 EPS. The company's quarterly revenue was up 68.2% on a year-over-year basis. Analysts predict that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. National Bankshares reiterated an "outperform" rating on shares of Wheaton Precious Metals in a research report on Tuesday, June 24th. Scotiabank upped their price target on shares of Wheaton Precious Metals from $108.00 to $109.00 and gave the company a "sector perform" rating in a research report on Tuesday, August 12th. Raymond James Financial upped their price target on shares of Wheaton Precious Metals from $114.00 to $127.00 and gave the company an "outperform" rating in a research report on Friday, October 10th. Weiss Ratings restated a "buy (b-)" rating on shares of Wheaton Precious Metals in a research report on Wednesday, October 8th. Finally, CIBC upped their price target on shares of Wheaton Precious Metals from $135.00 to $160.00 and gave the company an "outperformer" rating in a research report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $116.89.

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.

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