Atlantic Union Bankshares Corp Makes New Investment in Wheaton Precious Metals Corp. $WPM

Atlantic Union Bankshares Corp bought a new stake in Wheaton Precious Metals Corp. (NYSE:WPM) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,550 shares of the company’s stock, valued at approximately $229,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WPM. Canada Pension Plan Investment Board increased its stake in shares of Wheaton Precious Metals by 57.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,097,735 shares of the company’s stock worth $162,811,000 after acquiring an additional 766,947 shares during the last quarter. Amundi increased its stake in Wheaton Precious Metals by 33.2% during the first quarter. Amundi now owns 2,745,947 shares of the company’s stock worth $215,557,000 after acquiring an additional 683,674 shares during the last quarter. Bank of Montreal Can increased its stake in Wheaton Precious Metals by 10.3% during the second quarter. Bank of Montreal Can now owns 5,120,087 shares of the company’s stock worth $460,736,000 after acquiring an additional 478,236 shares during the last quarter. Nuveen LLC purchased a new stake in Wheaton Precious Metals in the first quarter valued at $36,885,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Wheaton Precious Metals by 10.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,072,786 shares of the company’s stock valued at $393,800,000 after purchasing an additional 470,651 shares during the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Price Performance

WPM stock opened at $99.05 on Monday. The business’s 50-day moving average is $104.02 and its two-hundred day moving average is $94.70. The firm has a market capitalization of $44.97 billion, a P/E ratio of 57.25, a P/E/G ratio of 1.67 and a beta of 0.38. 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 announced its quarterly earnings data on Thursday, November 6th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. The business had revenue of $476.26 million during the quarter, compared to the consensus estimate of $495.53 million. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.The business’s revenue for the quarter was up 54.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 earnings per share. On average, analysts expect that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Thursday, November 20th will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Thursday, November 20th. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 30.00%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Raymond James Financial raised their price objective on Wheaton Precious Metals from $114.00 to $127.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Bank of America lifted their price target on shares of Wheaton Precious Metals from $127.00 to $132.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Scotiabank reissued an “outperform” rating on shares of Wheaton Precious Metals in a research note on Thursday, October 23rd. BMO Capital Markets reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a research report on Friday, August 8th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Wheaton Precious Metals in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.