Laurel Wealth Advisors LLC Purchases 44,200 Shares of Wheaton Precious Metals Corp. $WPM

Laurel Wealth Advisors LLC lifted its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 6,314.3% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,900 shares of the company’s stock after buying an additional 44,200 shares during the period. Laurel Wealth Advisors LLC’s holdings in Wheaton Precious Metals were worth $4,032,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of WPM. Louisbourg Investments Inc. boosted its position in Wheaton Precious Metals by 72.9% in the second quarter. Louisbourg Investments Inc. now owns 115,846 shares of the company’s stock worth $10,398,000 after purchasing an additional 48,852 shares during the last quarter. B.O.S.S. Retirement Advisors LLC purchased a new position in shares of Wheaton Precious Metals in the 2nd quarter worth about $218,000. Voya Investment Management LLC grew its position in Wheaton Precious Metals by 18.0% during the first quarter. Voya Investment Management LLC now owns 747,477 shares of the company’s stock valued at $58,026,000 after buying an additional 113,835 shares during the period. LGT Fund Management Co Ltd. purchased a new stake in Wheaton Precious Metals during the second quarter worth about $225,000. Finally, Guardian Partners Inc. bought a new stake in Wheaton Precious Metals in the first quarter worth about $538,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Price Performance

Shares of WPM stock opened at $106.70 on Friday. The stock has a market capitalization of $48.44 billion, a price-to-earnings ratio of 61.67, a PEG ratio of 1.67 and a beta of 0.38. The company’s fifty day simple moving average is $103.73 and its two-hundred day simple moving average is $96.54. Wheaton Precious Metals Corp. has a 1 year low of $55.47 and a 1 year high of $114.36.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.The firm had revenue of $476.26 million during the quarter, compared to analyst estimates of $495.53 million. During the same period last year, the company earned $0.34 earnings per share. The business’s revenue for the quarter was up 54.5% on a year-over-year basis. Equities research analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Thursday, November 20th will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, November 20th. Wheaton Precious Metals’s payout ratio is presently 30.00%.

Analysts Set New Price Targets

WPM has been the subject of a number of research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Wheaton Precious Metals in a research report on Tuesday. Scotiabank reissued an “outperform” rating on shares of Wheaton Precious Metals in a report on Thursday, October 23rd. Zacks Research raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Monday. BMO Capital Markets reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a research report on Friday, August 8th. Finally, CIBC increased their price target on Wheaton Precious Metals from $135.00 to $160.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $124.50.

About Wheaton Precious Metals

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.