PKO Investment Management Joint Stock Co Cuts Position in Wheaton Precious Metals Corp. (NYSE:WPM)

PKO Investment Management Joint Stock Co reduced its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 8.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 188,891 shares of the company’s stock after selling 18,500 shares during the period. Wheaton Precious Metals comprises about 1.7% of PKO Investment Management Joint Stock Co’s holdings, making the stock its 14th largest holding. PKO Investment Management Joint Stock Co’s holdings in Wheaton Precious Metals were worth $14,701,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. NBT Bank N A NY grew its stake in shares of Wheaton Precious Metals by 129.3% in the first quarter. NBT Bank N A NY now owns 415 shares of the company’s stock worth $32,000 after acquiring an additional 234 shares in the last quarter. Promus Capital LLC acquired a new position in Wheaton Precious Metals during the 4th quarter worth $32,000. Princeton Global Asset Management LLC acquired a new stake in Wheaton Precious Metals in the 1st quarter valued at about $52,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Wheaton Precious Metals in the 4th quarter valued at about $38,000. Finally, Headlands Technologies LLC grew its position in shares of Wheaton Precious Metals by 494.9% during the fourth quarter. Headlands Technologies LLC now owns 696 shares of the company’s stock worth $39,000 after buying an additional 579 shares in the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on WPM. Raymond James boosted their price target on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, April 15th. UBS Group increased their target price on Wheaton Precious Metals from $78.00 to $89.00 and gave the company a “buy” rating in a report on Friday, April 11th. National Bankshares reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a report on Wednesday, April 23rd. BMO Capital Markets initiated coverage on Wheaton Precious Metals in a research report on Wednesday, April 16th. They set an “outperform” rating and a $129.00 price objective for the company. Finally, Scotiabank raised their target price on Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a “sector outperform” rating in a research report on Monday, April 14th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $86.90.

Wheaton Precious Metals Stock Up 0.1%

NYSE WPM opened at $91.78 on Tuesday. The firm has a market cap of $41.65 billion, a P/E ratio of 68.49, a P/E/G ratio of 1.91 and a beta of 0.46. Wheaton Precious Metals Corp. has a 52-week low of $51.96 and a 52-week high of $95.23. The business’s 50-day moving average price is $84.25 and its 200 day moving average price is $71.91.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Thursday, May 8th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.05. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The company had revenue of $470.41 million for the quarter, compared to the consensus estimate of $446.33 million. During the same period last year, the business posted $0.36 EPS. The company’s revenue was up 58.4% on a year-over-year basis. As a group, analysts anticipate 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 disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were paid a $0.165 dividend. The ex-dividend date was Wednesday, May 28th. This represents a $0.66 annualized dividend and a yield of 0.72%. Wheaton Precious Metals’s dividend payout ratio is currently 48.53%.

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.