J. Safra Sarasin Holding AG Purchases 3,531 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Key Points

• J. Safra Sarasin Holding AG increased its stake in Wheaton Precious Metals Corp. by 22.8%, acquiring an additional 3,531 shares, bringing its total to 19,015 shares valued at approximately $1.48 million.
• The stock has received positive ratings from analysts, with targets set between $87.00 and $129.00, and currently has an average target price of $93.00.
• Wheaton Precious Metals reported a quarterly earnings increase, posting $0.55 EPS, up from $0.36 a year earlier, with revenue up 58.4% year-over-year.

J. Safra Sarasin Holding AG grew its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 22.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,015 shares of the company's stock after purchasing an additional 3,531 shares during the period. J. Safra Sarasin Holding AG's holdings in Wheaton Precious Metals were worth $1,476,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of WPM. NBT Bank N A NY lifted its holdings in shares of Wheaton Precious Metals by 129.3% during the 1st 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 period. Banque Cantonale Vaudoise acquired a new position in Wheaton Precious Metals in the first quarter valued at about $49,000. Princeton Global Asset Management LLC bought a new position in Wheaton Precious Metals during the 1st quarter worth about $52,000. Headlands Technologies LLC grew its position in Wheaton Precious Metals by 494.9% in the fourth quarter. Headlands Technologies LLC now owns 696 shares of the company's stock valued at $39,000 after purchasing an additional 579 shares in the last quarter. Finally, Penserra Capital Management LLC raised its position in Wheaton Precious Metals by 1,812.8% during the first quarter. Penserra Capital Management LLC now owns 746 shares of the company's stock worth $57,000 after acquiring an additional 707 shares in the last quarter. Hedge funds and other institutional investors own 70.34% of the company's stock.

Analyst Upgrades and Downgrades

WPM has been the subject of a number of research reports. BMO Capital Markets began coverage on Wheaton Precious Metals in a report on Wednesday, April 16th. They set an "outperform" rating and a $129.00 target price for the company. Royal Bank Of Canada raised their price target on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Berenberg Bank increased their price objective 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. Raymond James Financial lifted their target price on Wheaton Precious Metals from $88.00 to $90.00 and gave the company an "outperform" rating in a research report on Tuesday, April 15th. Finally, Wall Street Zen raised Wheaton Precious Metals from a "hold" rating to a "buy" rating in a report on Monday, May 12th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $93.00.

Wheaton Precious Metals Stock Up 0.6%

Shares of NYSE:WPM traded up $0.62 during midday trading on Wednesday, hitting $98.60. 1,894,393 shares of the stock traded hands, compared to its average volume of 1,838,394. Wheaton Precious Metals Corp. has a one year low of $53.05 and a one year high of $98.66. The business's 50 day moving average is $90.74 and its two-hundred day moving average is $79.93. The stock has a market capitalization of $44.76 billion, a PE ratio of 72.50, a P/E/G ratio of 2.68 and a beta of 0.39.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.55 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.05. The company had revenue of $470.41 million during the quarter, compared to analyst estimates of $446.33 million. Wheaton Precious Metals had a net margin of 42.45% and a return on equity of 10.32%. The firm's revenue for the quarter was up 58.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.36 EPS. As a group, sell-side analysts forecast that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Wednesday, May 28th. Wheaton Precious Metals's dividend payout ratio is presently 48.53%.

About Wheaton Precious Metals

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.