Korea Investment CORP Acquires 69,158 Shares of Wheaton Precious Metals Corp. $WPM

Korea Investment CORP boosted its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 31.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 290,948 shares of the company’s stock after purchasing an additional 69,158 shares during the quarter. Korea Investment CORP’s holdings in Wheaton Precious Metals were worth $26,112,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of analysts recently issued reports on WPM shares. Berenberg Bank raised their price target on Wheaton Precious Metals from $102.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Wheaton Precious Metals in a research note on Tuesday. UBS Group lifted their price target on shares of Wheaton Precious Metals from $118.00 to $122.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. Bank of America upped their price target on shares of Wheaton Precious Metals from $127.00 to $132.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Wheaton Precious Metals in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $124.50.

Wheaton Precious Metals Trading Up 2.6%

NYSE:WPM opened at $109.55 on Friday. The company has a market cap of $49.74 billion, a price-to-earnings ratio of 63.32, a price-to-earnings-growth ratio of 1.67 and a beta of 0.38. Wheaton Precious Metals Corp. has a twelve month low of $55.47 and a twelve month high of $114.36. The stock has a fifty day simple moving average of $103.77 and a 200-day simple moving average of $96.76.

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 the consensus estimate of $0.59 by $0.03. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. The company had revenue of $476.26 million for the quarter, compared to the consensus estimate of $495.53 million. During the same quarter last year, the firm posted $0.34 EPS. The firm’s revenue was up 54.5% compared to the same quarter last year. As a group, equities research analysts predict that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Thursday, November 20th will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend 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%.

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.