King Luther Capital Management Corp Makes New Investment in Wheaton Precious Metals Corp. (NYSE:WPM)

King Luther Capital Management Corp purchased a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 124,735 shares of the company's stock, valued at approximately $6,154,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Signaturefd LLC lifted its holdings in Wheaton Precious Metals by 3.2% in the third quarter. Signaturefd LLC now owns 11,562 shares of the company's stock valued at $469,000 after acquiring an additional 363 shares during the period. Syon Capital LLC purchased a new stake in Wheaton Precious Metals in the third quarter worth about $254,000. Euro Pacific Asset Management LLC increased its position in Wheaton Precious Metals by 0.8% in the third quarter. Euro Pacific Asset Management LLC now owns 330,489 shares of the company's stock worth $13,400,000 after buying an additional 2,489 shares in the last quarter. Parsons Capital Management Inc. RI increased its position in Wheaton Precious Metals by 0.4% in the third quarter. Parsons Capital Management Inc. RI now owns 57,361 shares of the company's stock worth $2,326,000 after buying an additional 250 shares in the last quarter. Finally, PFG Investments LLC increased its position in Wheaton Precious Metals by 32.4% in the third quarter. PFG Investments LLC now owns 9,733 shares of the company's stock worth $395,000 after buying an additional 2,382 shares in the last quarter. 70.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on WPM shares. Raymond James reduced their price target on Wheaton Precious Metals from $60.00 to $58.00 and set a "market perform" rating for the company in a research report on Thursday, February 22nd. TD Securities upgraded Wheaton Precious Metals from a "hold" rating to a "buy" rating and increased their target price for the stock from $51.00 to $53.00 in a research report on Monday, March 18th. BMO Capital Markets increased their target price on Wheaton Precious Metals from $59.00 to $61.00 and gave the stock an "outperform" rating in a research report on Tuesday. CIBC increased their target price on Wheaton Precious Metals from $70.00 to $75.00 and gave the stock an "outperform" rating in a research report on Wednesday. Finally, Scotiabank raised their price target on Wheaton Precious Metals from $59.00 to $66.50 and gave the company an "outperform" rating in a report on Thursday. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $59.70.

Wheaton Precious Metals Price Performance

Shares of NYSE:WPM traded down $0.92 during midday trading on Thursday, hitting $55.69. The company had a trading volume of 1,543,808 shares, compared to its average volume of 2,041,551. Wheaton Precious Metals Corp. has a twelve month low of $38.37 and a twelve month high of $57.87. The stock has a market cap of $25.25 billion, a price-to-earnings ratio of 42.84, a price-to-earnings-growth ratio of 2.10 and a beta of 0.75. The business's 50-day simple moving average is $51.43 and its 200-day simple moving average is $48.02.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.29 by $0.07. The business had revenue of $296.80 million during the quarter, compared to analyst estimates of $278.95 million. Wheaton Precious Metals had a return on equity of 8.53% and a net margin of 53.74%. The company's quarterly revenue was up 38.7% on a year-over-year basis. During the same period last year, the business posted $0.23 earnings per share. As a group, sell-side analysts forecast that Wheaton Precious Metals Corp. will post 1.28 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 29th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Wednesday, May 29th. Wheaton Precious Metals's dividend payout ratio is presently 47.69%.

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.