King Luther Capital Management Corp Buys 487,190 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

King Luther Capital Management Corp increased its stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 48.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,501,037 shares of the company's stock after buying an additional 487,190 shares during the quarter. King Luther Capital Management Corp owned about 0.33% of Wheaton Precious Metals worth $91,683,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Ridgewood Investments LLC bought a new stake in shares of Wheaton Precious Metals in the 2nd quarter worth about $31,000. Abich Financial Wealth Management LLC purchased a new stake in Wheaton Precious Metals in the 2nd quarter worth about $31,000. St. Johns Investment Management Company LLC purchased a new stake in Wheaton Precious Metals in the 3rd quarter worth about $48,000. Sunbelt Securities Inc. bought a new stake in Wheaton Precious Metals in the second quarter worth about $47,000. Finally, First Horizon Advisors Inc. purchased a new position in shares of Wheaton Precious Metals during the third quarter valued at approximately $67,000. 70.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WPM has been the topic of several recent analyst reports. UBS Group initiated coverage on Wheaton Precious Metals in a report on Monday. They issued a "buy" rating and a $78.00 price target on the stock. Jefferies Financial Group lifted their target price on Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a "buy" rating in a research report on Friday, October 4th. Raymond James boosted their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. National Bank Financial raised shares of Wheaton Precious Metals from a "sector perform" rating to an "outperform" rating in a research note on Thursday, October 10th. Finally, Scotiabank boosted their price objective on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the company a "sector outperform" rating in a research report on Monday, August 19th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Wheaton Precious Metals presently has an average rating of "Moderate Buy" and a consensus price target of $71.67.

Wheaton Precious Metals Stock Performance

NYSE WPM opened at $62.97 on Thursday. The company's 50-day simple moving average is $62.95 and its two-hundred day simple moving average is $59.03. Wheaton Precious Metals Corp. has a one year low of $38.57 and a one year high of $68.64. The company has a market capitalization of $28.56 billion, a price-to-earnings ratio of 46.99, a price-to-earnings-growth ratio of 2.28 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.34. The company had revenue of $308.25 million for the quarter, compared to analyst estimates of $324.57 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. During the same period last year, the company posted $0.27 earnings per share. Equities analysts expect that Wheaton Precious Metals Corp. will post 1.44 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Thursday, November 21st will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Thursday, November 21st. Wheaton Precious Metals's payout ratio is 46.27%.

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.

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