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

King Luther Capital Management Corp decreased its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 0.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,524,942 shares of the company’s stock after selling 6,175 shares during the period. King Luther Capital Management Corp’s holdings in Wheaton Precious Metals were worth $136,940,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of WPM. Bulwark Capital Corp purchased a new position in Wheaton Precious Metals in the 2nd quarter worth approximately $27,000. Wealth Preservation Advisors LLC purchased a new stake in shares of Wheaton Precious Metals during the first quarter valued at approximately $38,000. Banque Cantonale Vaudoise purchased a new position in shares of Wheaton Precious Metals in the first quarter valued at $49,000. City State Bank boosted its stake in shares of Wheaton Precious Metals by 40.0% in the second quarter. City State Bank now owns 560 shares of the company’s stock valued at $50,000 after purchasing an additional 160 shares during the period. Finally, Penserra Capital Management LLC boosted its stake in shares of Wheaton Precious Metals by 1,812.8% in the first quarter. Penserra Capital Management LLC now owns 746 shares of the company’s stock valued at $57,000 after purchasing an additional 707 shares during the period. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. UBS Group lifted their price target on shares of Wheaton Precious Metals from $118.00 to $122.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a research report on Friday, August 8th. Raymond James Financial boosted their price target on Wheaton Precious Metals from $114.00 to $127.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Scotiabank reissued an “outperform” rating on shares of Wheaton Precious Metals in a report on Thursday, October 23rd. Finally, Bank of America lifted their price objective on Wheaton Precious Metals from $127.00 to $132.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. One equities 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $124.50.

Wheaton Precious Metals Stock Up 2.9%

Wheaton Precious Metals stock opened at $99.05 on Friday. Wheaton Precious Metals Corp. has a 52-week low of $55.47 and a 52-week high of $114.36. The firm has a market capitalization of $44.97 billion, a price-to-earnings ratio of 57.25, a PEG ratio of 1.67 and a beta of 0.38. The firm has a 50-day moving average price of $104.02 and a two-hundred day moving average price of $94.61.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.The company had revenue of $476.26 million for the quarter, compared to analysts’ expectations of $495.53 million. During the same quarter in the previous year, the company posted $0.34 earnings per share. The business’s revenue for the quarter was up 54.5% compared to the same quarter last year. Research analysts expect that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Thursday, November 20th will be paid a $0.165 dividend. The ex-dividend date of this dividend is Thursday, November 20th. This represents a $0.66 annualized dividend and a dividend yield of 0.7%. Wheaton Precious Metals’s dividend payout ratio is presently 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.