Erste Asset Management GmbH Buys Shares of 60,500 Wheaton Precious Metals Corp. $WPM

Key Points

• Erste Asset Management GmbH has acquired a new stake in Wheaton Precious Metals Corp., purchasing 60,500 shares valued at approximately $4.61 million.
• Wheaton Precious Metals reported an earnings per share of $0.63 for the last quarter, exceeding analyst expectations and showing a year-over-year revenue increase of 68.2%.
• The company recently announced a quarterly dividend of $0.165, reflecting a 0.7% dividend yield and a payout ratio of 38.15%.

Erste Asset Management GmbH bought a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 60,500 shares of the company's stock, valued at approximately $4,611,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its position in shares of Wheaton Precious Metals by 2.9% in the first quarter. Pacer Advisors Inc. now owns 4,144 shares of the company's stock worth $322,000 after purchasing an additional 117 shares during the period. Asahi Life Asset Management CO. LTD. boosted its position in shares of Wheaton Precious Metals by 2.8% in the first quarter. Asahi Life Asset Management CO. LTD. now owns 5,070 shares of the company's stock worth $393,000 after purchasing an additional 140 shares during the period. Avantax Advisory Services Inc. boosted its position in shares of Wheaton Precious Metals by 2.1% in the first quarter. Avantax Advisory Services Inc. now owns 6,737 shares of the company's stock worth $523,000 after purchasing an additional 140 shares during the period. Continuum Advisory LLC boosted its position in shares of Wheaton Precious Metals by 9.0% in the first quarter. Continuum Advisory LLC now owns 1,823 shares of the company's stock worth $142,000 after purchasing an additional 151 shares during the period. Finally, Allworth Financial LP boosted its position in shares of Wheaton Precious Metals by 2.9% in the first quarter. Allworth Financial LP now owns 5,715 shares of the company's stock worth $470,000 after purchasing an additional 161 shares during the period. 70.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on WPM shares. Scotiabank upped their price target on shares of Wheaton Precious Metals from $108.00 to $109.00 and gave the stock a "sector perform" rating in a research report on Tuesday, August 12th. UBS Group set a $106.00 target price on shares of Wheaton Precious Metals and gave the stock a "neutral" rating in a research report on Monday, August 11th. Royal Bank Of Canada upped their target price on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. BMO Capital Markets restated an "outperform" rating on shares of Wheaton Precious Metals in a research report on Friday, August 8th. Finally, Berenberg Bank upped their target price on shares of Wheaton Precious Metals from $87.00 to $95.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Wheaton Precious Metals currently has a consensus rating of "Moderate Buy" and an average target price of $97.33.

Wheaton Precious Metals Stock Up 1.1%

Wheaton Precious Metals stock opened at $94.27 on Friday. The company has a market cap of $42.79 billion, a price-to-earnings ratio of 54.49, a PEG ratio of 2.59 and a beta of 0.39. The firm's fifty day moving average is $92.26 and its 200 day moving average is $82.72. Wheaton Precious Metals Corp. has a 52-week low of $55.47 and a 52-week high of $103.81.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) 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. The company had revenue of $503.22 million for the quarter, compared to the consensus estimate of $424.23 million. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. Wheaton Precious Metals's revenue was up 68.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.33 earnings per share. On average, equities research analysts anticipate 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 announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be paid a $0.165 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.66 annualized dividend and a dividend yield of 0.7%. Wheaton Precious Metals's dividend payout ratio is currently 38.15%.

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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