Laffer Tengler Investments Inc. Purchases New Position in Wheaton Precious Metals Corp. $WPM

Key Points

• Laffer Tengler Investments Inc. purchased a new position in Wheaton Precious Metals Corp., acquiring 3,073 shares valued at approximately $239,000.
• Analysts have boosted their price targets for Wheaton Precious Metals, with Royal Bank of Canada raising it from $80.00 to $90.00, while UBS Group set a target of $106.00.
• Wheaton Precious Metals announced a quarterly dividend of $0.165 per share, representing an annualized dividend of $0.66 with a yield of 0.7%.

Laffer Tengler Investments Inc. purchased a new position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,073 shares of the company's stock, valued at approximately $239,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. NBT Bank N A NY raised its position in shares of Wheaton Precious Metals by 129.3% in 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 in the last quarter. Banque Cantonale Vaudoise purchased a new stake in Wheaton Precious Metals in the first quarter worth $49,000. Princeton Global Asset Management LLC purchased a new stake in Wheaton Precious Metals in the first quarter worth $52,000. Penserra Capital Management LLC lifted 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 valued at $57,000 after buying an additional 707 shares during the period. Finally, Whittier Trust Co. lifted its position in Wheaton Precious Metals by 77.4% during the first quarter. Whittier Trust Co. now owns 763 shares of the company's stock valued at $59,000 after buying an additional 333 shares during the period. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Royal Bank Of Canada boosted their price objective on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. National Bankshares restated an "outperform" rating on shares of Wheaton Precious Metals in a research note on Tuesday, June 24th. Wall Street Zen lowered Wheaton Precious Metals from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. CIBC reissued an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, July 15th. Finally, UBS Group set a $106.00 price target on Wheaton Precious Metals and gave the company a "neutral" rating in a report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $97.33.

Wheaton Precious Metals Trading Up 1.1%

WPM stock opened at $94.27 on Friday. The stock's 50 day simple moving average is $92.26 and its 200 day simple moving average is $82.72. Wheaton Precious Metals Corp. has a 12-month low of $55.47 and a 12-month high of $103.81. The stock has a market capitalization of $42.79 billion, a PE ratio of 54.49, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.05. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.The firm had revenue of $503.22 million during the quarter, compared to analysts' expectations of $424.23 million. During the same quarter in the previous year, the business earned $0.33 earnings per share. The company's revenue was up 68.2% on a year-over-year basis. On average, research analysts predict that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently declared 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 is Thursday, August 21st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.7%. Wheaton Precious Metals's payout ratio is currently 38.15%.

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.

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