LGT Fund Management Co Ltd. Makes New Investment in Wheaton Precious Metals Corp. $WPM

Key Points

• LGT Fund Management Co Ltd. acquired 2,500 shares of Wheaton Precious Metals Corp. for approximately $225,000, marking their new investment in the company.
• Wheaton Precious Metals reported a significant 68.2% year-over-year revenue increase for the quarter, with $503.22 million in revenue and an EPS of $0.63, exceeding analysts' expectations.
• The company announced a quarterly dividend of $0.165, resulting in an annualized dividend yield of 0.6%, with a payout ratio of 38.15%.

LGT Fund Management Co Ltd. bought a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,500 shares of the company's stock, valued at approximately $225,000.

A number of other large investors have also recently added to or reduced their stakes in WPM. GAMMA Investing LLC boosted its position in Wheaton Precious Metals by 7,695.0% during the first quarter. GAMMA Investing LLC now owns 56,670 shares of the company's stock worth $4,399,000 after purchasing an additional 55,943 shares during the period. Merit Financial Group LLC boosted its position in Wheaton Precious Metals by 5.2% during the first quarter. Merit Financial Group LLC now owns 5,069 shares of the company's stock worth $394,000 after purchasing an additional 251 shares during the period. First Affirmative Financial Network bought a new stake in shares of Wheaton Precious Metals in the first quarter valued at approximately $279,000. Princeton Global Asset Management LLC bought a new stake in shares of Wheaton Precious Metals in the first quarter valued at approximately $52,000. Finally, Assenagon Asset Management S.A. boosted its position in shares of Wheaton Precious Metals by 21.6% in the first quarter. Assenagon Asset Management S.A. now owns 22,515 shares of the company's stock valued at $1,747,000 after acquiring an additional 3,995 shares during the period. Institutional investors own 70.34% of the company's stock.

Wheaton Precious Metals Trading Down 0.1%

Shares of NYSE WPM opened at $109.73 on Friday. The business has a fifty day simple moving average of $100.95 and a 200 day simple moving average of $90.36. The firm has a market capitalization of $49.81 billion, a price-to-earnings ratio of 63.43, a PEG ratio of 2.94 and a beta of 0.41. Wheaton Precious Metals Corp. has a one year low of $55.47 and a one year high of $114.00.

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

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors 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 was Thursday, August 21st. Wheaton Precious Metals's dividend payout ratio is presently 38.15%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on WPM shares. CIBC increased their price objective on Wheaton Precious Metals from $130.00 to $135.00 and gave the company an "outperform" rating in a research report on Thursday, September 25th. Scotiabank increased their price objective on 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. BMO Capital Markets reissued an "outperform" rating on shares of Wheaton Precious Metals in a research report on Friday, August 8th. National Bankshares reissued an "outperform" rating on shares of Wheaton Precious Metals in a research report on Tuesday, June 24th. Finally, Berenberg Bank increased their price objective on Wheaton Precious Metals from $102.00 to $108.00 and gave the company a "buy" rating in a research report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Wheaton Precious Metals currently has a consensus rating of "Moderate Buy" and a consensus price target of $109.75.

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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