Wesbanco Bank Inc. Purchases New Shares in Wheaton Precious Metals Corp. $WPM

Key Points

• Wesbanco Bank Inc. has acquired a new stake in Wheaton Precious Metals Corp., purchasing 2,825 shares valued at approximately $254,000.
• Wheaton Precious Metals reported strong earnings with an EPS of $0.63, exceeding analysts' expectations, and a 68.2% year-over-year revenue increase to $503.22 million.
• The company has announced a quarterly dividend of $0.165 per share, representing an annualized dividend yield of 0.6%.

Wesbanco Bank Inc. bought a new position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,825 shares of the company's stock, valued at approximately $254,000.

Several other large investors have also added to or reduced their stakes in WPM. Mackenzie Financial Corp boosted its holdings in shares of Wheaton Precious Metals by 54.4% in the 4th quarter. Mackenzie Financial Corp now owns 3,223,154 shares of the company's stock worth $181,227,000 after purchasing an additional 1,135,699 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Wheaton Precious Metals by 57.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,097,735 shares of the company's stock worth $162,811,000 after acquiring an additional 766,947 shares in the last quarter. Amundi raised its position in shares of Wheaton Precious Metals by 33.2% in the 1st quarter. Amundi now owns 2,745,947 shares of the company's stock worth $215,557,000 after acquiring an additional 683,674 shares in the last quarter. Perpetual Ltd bought a new position in Wheaton Precious Metals during the 1st quarter valued at approximately $50,430,000. Finally, Nuveen LLC bought a new position in Wheaton Precious Metals during the 1st quarter valued at approximately $36,885,000. Institutional investors own 70.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on WPM shares. CIBC reissued an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, July 15th. UBS Group raised their price target on Wheaton Precious Metals from $106.00 to $118.00 and gave the company a "neutral" rating in a report on Friday. Berenberg Bank lifted their target price on Wheaton Precious Metals from $102.00 to $108.00 and gave the stock a "buy" rating in a report on Friday, September 12th. Royal Bank Of Canada boosted their target price on Wheaton Precious Metals from $80.00 to $90.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Wheaton Precious Metals in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $102.78.

Wheaton Precious Metals Trading Up 2.8%

Shares of Wheaton Precious Metals stock traded up $2.89 during trading hours on Friday, reaching $107.67. The stock had a trading volume of 8,717,457 shares, compared to its average volume of 1,840,410. Wheaton Precious Metals Corp. has a 1 year low of $55.47 and a 1 year high of $108.67. The firm has a market capitalization of $48.88 billion, a price-to-earnings ratio of 62.24, a P/E/G ratio of 2.91 and a beta of 0.42. The firm has a 50 day simple moving average of $97.53 and a two-hundred day simple moving average of $87.83.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.05. The firm 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 quarterly revenue was up 68.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.33 EPS. Sell-side analysts forecast that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Thursday, August 21st. Wheaton Precious Metals's dividend payout ratio is presently 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.