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

Korea Investment CORP raised its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 31.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 290,948 shares of the company’s stock after buying an additional 69,158 shares during the period. Korea Investment CORP owned about 0.06% of Wheaton Precious Metals worth $26,112,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. SCP Investment LP bought a new position in Wheaton Precious Metals in the 2nd quarter worth $251,000. Quadrant Capital Group LLC raised its stake in shares of Wheaton Precious Metals by 12.3% in the second quarter. Quadrant Capital Group LLC now owns 22,259 shares of the company’s stock worth $1,999,000 after buying an additional 2,440 shares during the period. Choreo LLC lifted its position in shares of Wheaton Precious Metals by 6.3% during the 2nd quarter. Choreo LLC now owns 11,752 shares of the company’s stock valued at $1,055,000 after buying an additional 695 shares in the last quarter. Boston Partners bought a new position in shares of Wheaton Precious Metals during the 2nd quarter valued at approximately $1,442,000. Finally, J.W. Cole Advisors Inc. grew its stake in shares of Wheaton Precious Metals by 10.0% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 11,396 shares of the company’s stock valued at $1,023,000 after acquiring an additional 1,034 shares during the period. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on WPM shares. Zacks Research upgraded shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 24th. Bank of America increased their price objective on shares of Wheaton Precious Metals from $127.00 to $132.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Wall Street Zen upgraded shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research note on Monday, September 8th. CIBC upped their target price on shares of Wheaton Precious Metals from $135.00 to $160.00 and gave the stock an “outperformer” rating in a report on Friday, October 10th. Finally, Scotiabank reissued an “outperform” rating on shares of Wheaton Precious Metals in a report on Thursday, October 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Wheaton Precious Metals presently has an average rating of “Buy” and a consensus price target of $124.50.

Wheaton Precious Metals Stock Performance

Shares of NYSE:WPM opened at $109.55 on Friday. The firm has a market cap of $49.74 billion, a price-to-earnings ratio of 63.32, a P/E/G ratio of 1.67 and a beta of 0.38. The firm has a fifty day moving average price of $103.77 and a 200 day moving average price of $96.76. Wheaton Precious Metals Corp. has a fifty-two week low of $55.47 and a fifty-two week high of $114.36.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the firm posted $0.34 EPS. Wheaton Precious Metals’s revenue for the quarter was up 54.5% compared to the same quarter last year. As a group, research analysts predict that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, November 20th will be given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date 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.