Korea Investment CORP Has $17.21 Million Position in Wheaton Precious Metals Corp. $WPM

Key Points

• Korea Investment CORP decreased its stake in Wheaton Precious Metals by 24.8%, now holding 221,790 shares valued at approximately $17.21 million.
• The stock has received positive remarks from several analysts, with target price upgrades leading to an average price target of $97.33 and a "Moderate Buy" rating.
• Wheaton Precious Metals reported a 68.2% increase in quarterly revenue, reaching $503.22 million, along with an earnings per share (EPS) of $0.63, surpassing analyst expectations.

Korea Investment CORP cut its position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 24.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 221,790 shares of the company's stock after selling 73,119 shares during the quarter. Korea Investment CORP's holdings in Wheaton Precious Metals were worth $17,208,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pacer Advisors Inc. raised its holdings in Wheaton Precious Metals by 2.9% in the 1st quarter. Pacer Advisors Inc. now owns 4,144 shares of the company's stock valued at $322,000 after buying an additional 117 shares during the last quarter. Asahi Life Asset Management CO. LTD. increased its position in Wheaton Precious Metals by 2.8% in the 1st quarter. Asahi Life Asset Management CO. LTD. now owns 5,070 shares of the company's stock valued at $393,000 after acquiring an additional 140 shares during the period. Avantax Advisory Services Inc. increased its position in Wheaton Precious Metals by 2.1% in the 1st quarter. Avantax Advisory Services Inc. now owns 6,737 shares of the company's stock valued at $523,000 after acquiring an additional 140 shares during the period. Continuum Advisory LLC raised its stake in shares of Wheaton Precious Metals by 9.0% during the first quarter. Continuum Advisory LLC now owns 1,823 shares of the company's stock valued at $142,000 after acquiring an additional 151 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of Wheaton Precious Metals by 2.9% during the first quarter. Allworth Financial LP now owns 5,715 shares of the company's stock worth $470,000 after purchasing an additional 161 shares during the period. 70.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Scotiabank lifted their target price on Wheaton Precious Metals from $108.00 to $109.00 and gave the stock a "sector perform" rating in a report on Tuesday, August 12th. CIBC restated an "outperform" rating on shares of Wheaton Precious Metals in a research report on Tuesday, July 15th. Royal Bank Of Canada upped their target price on Wheaton Precious Metals from $80.00 to $90.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. BMO Capital Markets reissued an "outperform" rating on shares of Wheaton Precious Metals in a research report on Friday, August 8th. Finally, National Bankshares restated an "outperform" rating on shares of Wheaton Precious Metals in a research report on Tuesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Wheaton Precious Metals has an average rating of "Moderate Buy" and an average price target of $97.33.

Wheaton Precious Metals Stock Performance

Shares of WPM stock opened at $93.2970 on Thursday. Wheaton Precious Metals Corp. has a fifty-two week low of $55.47 and a fifty-two week high of $103.81. The stock has a 50 day simple moving average of $92.18 and a two-hundred day simple moving average of $82.50. The company has a market cap of $42.35 billion, a P/E ratio of 53.93, a PEG ratio of 2.53 and a beta of 0.39.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.05. The firm had revenue of $503.22 million for the quarter, compared to analysts' expectations of $424.23 million. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.The company's revenue for the quarter was up 68.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.33 EPS. On average, research analysts predict that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, August 21st. Wheaton Precious Metals's payout ratio is 38.15%.

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.

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