Zurcher Kantonalbank Zurich Cantonalbank Acquires 62,540 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 31.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 259,449 shares of the company’s stock after purchasing an additional 62,540 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.06% of Wheaton Precious Metals worth $20,130,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Pacer Advisors Inc. raised its holdings in shares of Wheaton Precious Metals by 2.9% in the 1st quarter. Pacer Advisors Inc. now owns 4,144 shares of the company’s stock valued at $322,000 after purchasing an additional 117 shares in the last quarter. Asahi Life Asset Management CO. LTD. raised its holdings in shares of Wheaton Precious Metals by 2.8% in the 1st quarter. Asahi Life Asset Management CO. LTD. now owns 5,070 shares of the company’s stock valued at $393,000 after purchasing an additional 140 shares in the last quarter. Avantax Advisory Services Inc. raised its holdings in shares of Wheaton Precious Metals by 2.1% in the 1st quarter. Avantax Advisory Services Inc. now owns 6,737 shares of the company’s stock valued at $523,000 after purchasing an additional 140 shares in the last quarter. Continuum Advisory LLC grew its position in shares of Wheaton Precious Metals by 9.0% in the 1st quarter. Continuum Advisory LLC now owns 1,823 shares of the company’s stock worth $142,000 after buying an additional 151 shares during the last quarter. Finally, Allworth Financial LP grew its position in shares of Wheaton Precious Metals by 2.9% in the 1st quarter. Allworth Financial LP now owns 5,715 shares of the company’s stock worth $470,000 after buying an additional 161 shares during the last quarter. Institutional investors own 70.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on WPM. National Bankshares reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a research report on Tuesday, June 24th. UBS Group lifted their price objective on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. CIBC reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a research report on Tuesday, July 15th. Raymond James Financial lifted their price objective on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 15th. Finally, Berenberg Bank lifted their price objective on shares of Wheaton Precious Metals from $87.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, July 3rd. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $93.00.

Wheaton Precious Metals Trading Down 2.4%

NYSE:WPM opened at $91.73 on Tuesday. The company has a market cap of $41.64 billion, a PE ratio of 67.45, a P/E/G ratio of 2.64 and a beta of 0.46. Wheaton Precious Metals Corp. has a twelve month low of $53.05 and a twelve month high of $96.83. The company’s 50 day moving average is $89.74 and its two-hundred day moving average is $78.56.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.50 by $0.05. The business had revenue of $470.41 million for the quarter, compared to the consensus estimate of $446.33 million. Wheaton Precious Metals had a net margin of 42.45% and a return on equity of 10.32%. The business’s revenue for the quarter was up 58.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 EPS. As a group, analysts expect that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.72%. The ex-dividend date was Wednesday, May 28th. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 48.53%.

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.