Euro Pacific Asset Management LLC Boosts Stake in SK Telecom Co., Ltd. $SKM

Key Points

• Euro Pacific Asset Management increased its stake in SK Telecom by 80.6% in the first quarter, buying an additional 99,741 shares and bringing its total holding to 223,557 shares worth about $6.5 million.
• Several other hedge funds also added to or initiated positions in SK Telecom, suggesting continued institutional interest in the wireless carrier.
• Analyst sentiment remains mixed: recent rating changes included upgrades from JPMorgan and Wall Street Zen, but the overall consensus is still a “Reduce” rating.

Euro Pacific Asset Management LLC grew its holdings in SK Telecom Co., Ltd. (NYSE:SKM - Free Report) by 80.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 223,557 shares of the Wireless communications provider's stock after purchasing an additional 99,741 shares during the period. Euro Pacific Asset Management LLC owned approximately 0.06% of SK Telecom worth $6,513,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Calamos Wealth Management LLC purchased a new stake in SK Telecom in the 1st quarter valued at about $3,511,000. Calamos Advisors LLC acquired a new position in SK Telecom in the first quarter valued at about $9,065,000. Matthews International Capital Management LLC boosted its stake in SK Telecom by 33.5% during the first quarter. Matthews International Capital Management LLC now owns 3,326 shares of the Wireless communications provider's stock worth $97,000 after buying an additional 835 shares during the period. Teachers Retirement System of The State of Kentucky boosted its stake in SK Telecom by 8.4% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 239,810 shares of the Wireless communications provider's stock worth $7,024,000 after buying an additional 18,510 shares during the period. Finally, Sequoia Financial Advisors LLC increased its position in shares of SK Telecom by 33.7% during the first quarter. Sequoia Financial Advisors LLC now owns 117,443 shares of the Wireless communications provider's stock valued at $3,440,000 after acquiring an additional 29,581 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SKM shares. Zacks Research raised shares of SK Telecom from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 26th. Weiss Ratings cut shares of SK Telecom from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, May 27th. JPMorgan Chase & Co. upgraded shares of SK Telecom from a "neutral" rating to an "overweight" rating in a report on Thursday. HSBC raised SK Telecom from a "reduce" rating to a "hold" rating in a research report on Thursday, May 7th. Finally, Wall Street Zen upgraded SK Telecom from a "hold" rating to a "buy" rating in a research note on Saturday, July 4th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce".

SK Telecom Stock Down 3.2%

Shares of SKM opened at $30.73 on Friday. The stock has a market capitalization of $11.79 billion, a PE ratio of 51.22, a P/E/G ratio of 0.19 and a beta of 0.63. SK Telecom Co., Ltd. has a 1 year low of $19.66 and a 1 year high of $47.18. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.15 and a current ratio of 1.18. The company's 50-day simple moving average is $36.16 and its 200-day simple moving average is $31.85.

SK Telecom (NYSE:SKM - Get Free Report) last posted its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $0.57 EPS for the quarter, beating the consensus estimate of $0.47 by $0.10. SK Telecom had a net margin of 2.03% and a return on equity of 2.78%. The business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.98 billion. Analysts forecast that SK Telecom Co., Ltd. will post 2.76 earnings per share for the current fiscal year.

SK Telecom Company Profile

SK Telecom Co, Ltd. NYSE: SKM is South Korea's largest wireless carrier, offering a comprehensive range of mobile telecommunications services. The company operates 5G, 4G LTE and IoT networks, providing voice, data and messaging solutions to consumers and businesses. Beyond traditional wireless services, SK Telecom delivers fixed-line broadband, digital content platforms, cloud computing and cybersecurity offerings designed to support enterprise digital transformation and the growing demand for high-speed connectivity.

Established in 1984 as Korea Mobile Telecommunications Services, SK Telecom pioneered cellular service commercialization in South Korea and has continually expanded into new technology areas.

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