Laurel Wealth Advisors LLC Has $4.03 Million Stake in Wheaton Precious Metals Corp. $WPM

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

Several other hedge funds have also recently made changes to their positions in WPM. Louisbourg Investments Inc. boosted its holdings in shares of Wheaton Precious Metals by 72.9% during the 2nd quarter. Louisbourg Investments Inc. now owns 115,846 shares of the company’s stock worth $10,398,000 after buying an additional 48,852 shares in the last quarter. B.O.S.S. Retirement Advisors LLC bought a new stake in shares of Wheaton Precious Metals in the 2nd quarter valued at $218,000. Voya Investment Management LLC lifted its position in shares of Wheaton Precious Metals by 18.0% during the 1st quarter. Voya Investment Management LLC now owns 747,477 shares of the company’s stock valued at $58,026,000 after acquiring an additional 113,835 shares during the period. LGT Fund Management Co Ltd. bought a new position in Wheaton Precious Metals during the second quarter worth $225,000. Finally, Guardian Partners Inc. bought a new position in Wheaton Precious Metals during the first quarter worth $538,000. 70.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on WPM shares. Scotiabank reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a research note on Thursday, October 23rd. Raymond James Financial boosted their target price on Wheaton Precious Metals from $114.00 to $127.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. UBS Group upped their price target on Wheaton Precious Metals from $118.00 to $122.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. CIBC raised their price objective on Wheaton Precious Metals from $135.00 to $160.00 and gave the company an “outperformer” rating in a research note on Friday, October 10th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Wheaton Precious Metals in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $124.50.

Wheaton Precious Metals Stock Performance

WPM stock opened at $106.70 on Friday. The business has a 50-day simple moving average of $103.73 and a two-hundred day simple moving average of $96.54. The company has a market capitalization of $48.44 billion, a P/E ratio of 61.67, a price-to-earnings-growth ratio of 1.67 and a beta of 0.38. Wheaton Precious Metals Corp. has a 52-week low of $55.47 and a 52-week high of $114.36.

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

Wheaton Precious Metals Dividend Announcement

The company also recently disclosed 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 currently 30.00%.

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.