King Luther Capital Management Corp Cuts Stock Position in Wheaton Precious Metals Corp. $WPM

King Luther Capital Management Corp decreased its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 0.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,524,942 shares of the company’s stock after selling 6,175 shares during the period. King Luther Capital Management Corp owned 0.34% of Wheaton Precious Metals worth $136,940,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the business. DJE Kapital AG grew its position in Wheaton Precious Metals by 3.2% during the 2nd quarter. DJE Kapital AG now owns 77,390 shares of the company’s stock worth $6,760,000 after purchasing an additional 2,390 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Wheaton Precious Metals by 5.3% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,596,494 shares of the company’s stock valued at $233,648,000 after acquiring an additional 130,952 shares during the period. Metis Global Partners LLC raised its stake in Wheaton Precious Metals by 15.9% in the 2nd quarter. Metis Global Partners LLC now owns 69,544 shares of the company’s stock worth $6,254,000 after acquiring an additional 9,550 shares during the last quarter. Harvest Portfolios Group Inc. acquired a new stake in shares of Wheaton Precious Metals during the second quarter worth about $727,000. Finally, Savant Capital LLC boosted its position in Wheaton Precious Metals by 18.5% in the second quarter. Savant Capital LLC now owns 13,137 shares of the company’s stock valued at $1,180,000 after buying an additional 2,052 shares during the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Analysts Set New Price Targets

WPM has been the subject of a number of recent research reports. Raymond James Financial lifted their price objective on Wheaton Precious Metals from $114.00 to $127.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. CIBC raised their price target on shares of Wheaton Precious Metals from $135.00 to $160.00 and gave the company an “outperformer” rating in a research note on Friday, October 10th. UBS Group upped their target price on shares of Wheaton Precious Metals from $118.00 to $122.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. Scotiabank reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research report on Thursday, October 23rd. Finally, Wall Street Zen raised shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research note on Monday, September 8th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and a consensus price target of $124.50.

Wheaton Precious Metals Trading Up 2.9%

Shares of WPM stock opened at $99.05 on Friday. Wheaton Precious Metals Corp. has a 12-month low of $55.47 and a 12-month high of $114.36. The stock has a 50 day simple moving average of $104.02 and a 200-day simple moving average of $94.61. The company has a market cap of $44.97 billion, a price-to-earnings ratio of 57.25, a price-to-earnings-growth ratio of 1.67 and a beta of 0.38.

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 the consensus estimate 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%.Wheaton Precious Metals’s revenue was up 54.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.34 earnings per share. On average, equities 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 declared a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Thursday, November 20th will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, November 20th. Wheaton Precious Metals’s payout ratio is 38.15%.

Wheaton Precious Metals 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.