Wesbanco Bank Inc. Invests $254,000 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. acquired a new stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,825 shares of the company's stock, valued at approximately $254,000.

Other institutional investors have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Wheaton Precious Metals in the second quarter valued at $481,000. Voya Investment Management LLC lifted its holdings in Wheaton Precious Metals by 18.0% during the 1st quarter. Voya Investment Management LLC now owns 747,477 shares of the company's stock worth $58,026,000 after buying an additional 113,835 shares during the last quarter. Fruth Investment Management purchased a new stake in Wheaton Precious Metals during the 1st quarter worth about $260,000. Birmingham Capital Management Co. Inc. AL purchased a new stake in shares of Wheaton Precious Metals in the 1st quarter valued at about $360,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Wheaton Precious Metals in the 1st quarter valued at about $209,000. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Stock Up 2.8%

WPM stock traded up $2.89 during trading on Friday, hitting $107.67. The company had a trading volume of 8,717,457 shares, compared to its average volume of 1,899,006. The firm has a market cap of $48.88 billion, a PE ratio of 62.24, a price-to-earnings-growth ratio of 2.85 and a beta of 0.42. Wheaton Precious Metals Corp. has a 1-year low of $55.47 and a 1-year high of $108.67. The firm has a 50-day moving average price of $97.20 and a 200-day moving average price of $87.45.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) 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 company 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 quarterly revenue was up 68.2% on a year-over-year basis. Sell-side analysts anticipate 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 announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were given a dividend of $0.165 per share. The ex-dividend date was Thursday, August 21st. This represents a $0.66 annualized dividend and a yield of 0.6%. Wheaton Precious Metals's payout ratio is presently 38.15%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. National Bankshares reissued an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, June 24th. Wall Street Zen raised Wheaton Precious Metals from a "hold" rating to a "buy" rating in a report on Monday, September 8th. UBS Group boosted their target price on Wheaton Precious Metals from $106.00 to $118.00 and gave the company a "neutral" rating in a report on Friday. Scotiabank boosted their target price on Wheaton Precious Metals from $108.00 to $109.00 and gave the company a "sector perform" rating in a report on Tuesday, August 12th. Finally, Royal Bank Of Canada boosted their price target 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. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Wheaton Precious Metals currently has a consensus rating of "Moderate Buy" and a consensus price target of $102.78.

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.