Wheaton Precious Metals Corp. $WPM Position Boosted by Louisbourg Investments Inc.

Louisbourg Investments Inc. increased its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 72.9% during the second quarter, Holdings Channel.com reports. The firm owned 115,846 shares of the company’s stock after acquiring an additional 48,852 shares during the quarter. Wheaton Precious Metals accounts for 2.3% of Louisbourg Investments Inc.’s investment portfolio, making the stock its 5th largest holding. Louisbourg Investments Inc.’s holdings in Wheaton Precious Metals were worth $10,398,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Bulwark Capital Corp purchased a new position in shares of Wheaton Precious Metals in the second quarter valued at about $27,000. NBT Bank N A NY increased its position in shares of Wheaton Precious Metals by 129.3% in the first quarter. NBT Bank N A NY now owns 415 shares of the company’s stock valued at $32,000 after acquiring an additional 234 shares during the period. Wealth Preservation Advisors LLC purchased a new position in shares of Wheaton Precious Metals in the first quarter valued at about $38,000. Banque Cantonale Vaudoise purchased a new position in shares of Wheaton Precious Metals in the first quarter valued at about $49,000. Finally, Penserra Capital Management LLC increased its position in shares of Wheaton Precious Metals by 1,812.8% in the first quarter. Penserra Capital Management LLC now owns 746 shares of the company’s stock valued at $57,000 after acquiring an additional 707 shares during the period. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wall Street Analysts Forecast Growth

WPM has been the topic of a number of research reports. BMO Capital Markets reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a research note on Friday, August 8th. Wall Street Zen raised shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research note on Monday, September 8th. CIBC lifted their target price on shares of Wheaton Precious Metals from $135.00 to $160.00 and gave the company an “outperformer” rating in a research note on Friday. Raymond James Financial boosted their price objective on shares of Wheaton Precious Metals from $114.00 to $127.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, UBS Group boosted their price objective on shares of Wheaton Precious Metals from $106.00 to $118.00 and gave the stock a “neutral” rating in a research note on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $114.50.

Wheaton Precious Metals Price Performance

NYSE:WPM opened at $105.44 on Friday. Wheaton Precious Metals Corp. has a one year low of $55.47 and a one year high of $114.00. The company’s 50-day simple moving average is $102.44 and its 200 day simple moving average is $91.34. The firm has a market capitalization of $47.87 billion, a P/E ratio of 60.95, a PEG ratio of 2.76 and a beta of 0.41.

Wheaton Precious Metals (NYSE:WPM) last issued 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. The firm had revenue of $503.22 million for the quarter, compared to the consensus estimate of $424.23 million. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. The business’s revenue was up 68.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.33 earnings per share. On average, equities research analysts expect 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. Stockholders of record on Thursday, August 21st were paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Thursday, August 21st. Wheaton Precious Metals’s dividend payout ratio is currently 38.15%.

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.