Wheaton Precious Metals Corp. (NYSE:WPM) Shares Bought by King Luther Capital Management Corp

Key Points

• King Luther Capital Management Corp increased its holdings in Wheaton Precious Metals by 0.4%, now owning about 1.5 million shares valued at approximately $118.9 million as of the latest SEC filing.
• Wheaton Precious Metals reported a 68.2% increase in revenue year-over-year for the quarter, with earnings per share surpassing analysts' expectations.
• The company has received multiple upgrades from analysts, with target prices ranging from $87 to $95 and an average target price of $93, indicating a generally positive outlook.

King Luther Capital Management Corp boosted its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 0.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,531,117 shares of the company's stock after buying an additional 5,500 shares during the period. King Luther Capital Management Corp owned approximately 0.34% of Wheaton Precious Metals worth $118,861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

WPM has been the topic of a number of research reports. Scotiabank increased their price objective on Wheaton Precious Metals from $79.00 to $87.00 and gave the company a "sector outperform" rating in a report on Monday, April 14th. Berenberg Bank increased their price objective on Wheaton Precious Metals from $87.00 to $95.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Raymond James Financial upped their target price on Wheaton Precious Metals from $88.00 to $90.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 15th. BMO Capital Markets restated an "outperform" rating on shares of Wheaton Precious Metals in a research note on Friday. Finally, National Bankshares restated an "outperform" rating on shares of Wheaton Precious Metals in a research note on Tuesday, June 24th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $93.00.

Wheaton Precious Metals Trading Up 0.9%

Shares of WPM stock opened at $100.64 on Friday. The company has a market capitalization of $45.69 billion, a P/E ratio of 58.17, a P/E/G ratio of 2.81 and a beta of 0.39. The business's 50 day moving average is $91.54 and its two-hundred day moving average is $80.78. Wheaton Precious Metals Corp. has a 12-month low of $54.12 and a 12-month high of $103.81.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued 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 company had revenue of $503.22 million for the quarter, compared to the consensus estimate of $424.23 million. Wheaton Precious Metals had a return on equity of 12.12% and a net margin of 47.46%. Wheaton Precious Metals's revenue for the quarter was up 68.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.33 earnings per share. On average, research analysts predict that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

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