Zurcher Kantonalbank Zurich Cantonalbank Acquires 13,331 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 6.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 222,086 shares of the company’s stock after buying an additional 13,331 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Wheaton Precious Metals were worth $11,642,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of WPM. Ridgewood Investments LLC bought a new stake in shares of Wheaton Precious Metals during the 2nd quarter worth $31,000. Principal Securities Inc. bought a new stake in shares of Wheaton Precious Metals during the 4th quarter worth $39,000. St. Johns Investment Management Company LLC bought a new stake in shares of Wheaton Precious Metals during the 1st quarter worth $52,000. Western Pacific Wealth Management LP boosted its holdings in shares of Wheaton Precious Metals by 47.6% during the 4th quarter. Western Pacific Wealth Management LP now owns 1,113 shares of the company’s stock worth $55,000 after buying an additional 359 shares during the period. Finally, Hexagon Capital Partners LLC boosted its holdings in shares of Wheaton Precious Metals by 30.8% during the 4th quarter. Hexagon Capital Partners LLC now owns 1,159 shares of the company’s stock worth $57,000 after buying an additional 273 shares during the period. 70.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on WPM shares. CIBC upped their price objective on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Bank of America upped their target price on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. TD Securities cut their target price on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. BMO Capital Markets upped their target price on shares of Wheaton Precious Metals from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. Finally, Berenberg Bank upped their target price on shares of Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Wheaton Precious Metals currently has an average rating of “Moderate Buy” and an average target price of $67.50.

Wheaton Precious Metals Stock Performance

Shares of WPM stock traded up $0.27 during mid-day trading on Thursday, reaching $61.66. The company’s stock had a trading volume of 912,218 shares, compared to its average volume of 1,825,366. Wheaton Precious Metals Corp. has a 1-year low of $38.37 and a 1-year high of $63.06. The company has a market cap of $27.96 billion, a P/E ratio of 47.43, a PEG ratio of 2.20 and a beta of 0.76. The firm’s 50-day moving average is $57.82 and its two-hundred day moving average is $52.62.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The company had revenue of $299.06 million during the quarter, compared to analysts’ expectations of $309.54 million. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. The business’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.31 EPS. Sell-side analysts anticipate that Wheaton Precious Metals Corp. will post 1.38 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend is Wednesday, August 21st. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 47.69%.

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.