Truist Financial Corp Grows Stock Holdings in Wheaton Precious Metals Corp. $WPM

Key Points

• Truist Financial Corp increased its stake in Wheaton Precious Metals Corp. by 98.2% during Q2, acquiring an additional 4,377 shares for a total value of $793,000.
• Wheaton Precious Metals recently reported a revenue of $503.22 million for the quarter, exceeding analyst expectations, with a year-over-year revenue increase of 68.2%.
• A quarterly dividend of $0.165 per share was declared, with an annualized yield of 0.6% and a payout ratio of 38.15%.

Truist Financial Corp lifted its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 98.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,834 shares of the company's stock after purchasing an additional 4,377 shares during the period. Truist Financial Corp's holdings in Wheaton Precious Metals were worth $793,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of WPM. Assenagon Asset Management S.A. lifted its position in shares of Wheaton Precious Metals by 21.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 22,515 shares of the company's stock worth $1,747,000 after purchasing an additional 3,995 shares during the last quarter. Dynamic Advisor Solutions LLC purchased a new stake in Wheaton Precious Metals in the first quarter valued at $531,000. Exchange Traded Concepts LLC lifted its position in Wheaton Precious Metals by 5,413.9% in the first quarter. Exchange Traded Concepts LLC now owns 53,154 shares of the company's stock valued at $4,126,000 after acquiring an additional 52,190 shares during the last quarter. Mission Wealth Management LP purchased a new stake in Wheaton Precious Metals in the first quarter valued at $227,000. Finally, Janney Montgomery Scott LLC lifted its position in Wheaton Precious Metals by 10.1% in the first quarter. Janney Montgomery Scott LLC now owns 41,043 shares of the company's stock valued at $3,186,000 after acquiring an additional 3,750 shares during the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Down 0.5%

Shares of WPM stock opened at $108.40 on Wednesday. The stock has a market capitalization of $49.21 billion, a PE ratio of 62.66, a price-to-earnings-growth ratio of 2.91 and a beta of 0.41. Wheaton Precious Metals Corp. has a 52-week low of $55.47 and a 52-week high of $114.00. The stock's 50-day moving average price is $102.91 and its 200 day moving average price is $91.90.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $424.23 million. During the same quarter in the previous year, the firm posted $0.33 EPS. The firm's revenue for the quarter was up 68.2% on a year-over-year basis. Analysts expect 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 declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were paid a dividend of $0.165 per share. 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 payout ratio is 38.15%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on WPM shares. UBS Group boosted their price target on shares of Wheaton Precious Metals from $106.00 to $118.00 and gave the company a "neutral" rating in a research report on Friday, September 19th. Weiss Ratings reissued a "buy (b-)" rating on shares of Wheaton Precious Metals in a research report on Wednesday, October 8th. Berenberg Bank boosted their price target on shares of Wheaton Precious Metals from $102.00 to $108.00 and gave the company a "buy" rating in a research report on Friday, September 12th. BMO Capital Markets reissued an "outperform" rating on shares of Wheaton Precious Metals in a research report on Friday, August 8th. Finally, Scotiabank upped their target price on shares of Wheaton Precious Metals from $108.00 to $109.00 and gave the company a "sector perform" rating in a report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $114.50.

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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