Korea Investment CORP Buys 105,573 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Korea Investment CORP grew its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 55.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 294,909 shares of the company's stock after purchasing an additional 105,573 shares during the quarter. Korea Investment CORP owned about 0.07% of Wheaton Precious Metals worth $16,591,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Fielder Capital Group LLC increased its holdings in Wheaton Precious Metals by 0.7% during the fourth quarter. Fielder Capital Group LLC now owns 24,701 shares of the company's stock worth $1,389,000 after buying an additional 176 shares during the last quarter. Signaturefd LLC increased its stake in shares of Wheaton Precious Metals by 1.5% during the 4th quarter. Signaturefd LLC now owns 11,877 shares of the company's stock worth $668,000 after purchasing an additional 178 shares during the last quarter. Merit Financial Group LLC raised its holdings in shares of Wheaton Precious Metals by 3.9% in the 4th quarter. Merit Financial Group LLC now owns 4,818 shares of the company's stock valued at $271,000 after purchasing an additional 179 shares during the period. Insigneo Advisory Services LLC lifted its stake in Wheaton Precious Metals by 2.2% in the 3rd quarter. Insigneo Advisory Services LLC now owns 8,553 shares of the company's stock valued at $522,000 after purchasing an additional 187 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Wheaton Precious Metals by 1.0% during the third quarter. Principal Financial Group Inc. now owns 19,761 shares of the company's stock worth $1,208,000 after purchasing an additional 196 shares during the period. Institutional investors own 70.34% of the company's stock.

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Analyst Ratings Changes

Several research firms have issued reports on WPM. Scotiabank upped their price objective on Wheaton Precious Metals from $78.00 to $79.00 and gave the company a "sector outperform" rating in a research note on Monday, March 17th. Stifel Canada upgraded Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 4th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $72.44.

Wheaton Precious Metals Price Performance

NYSE WPM traded down $0.74 on Tuesday, reaching $76.89. The stock had a trading volume of 1,852,040 shares, compared to its average volume of 1,649,790. Wheaton Precious Metals Corp. has a 1-year low of $47.02 and a 1-year high of $78.10. The company has a market cap of $34.88 billion, a P/E ratio of 57.38, a price-to-earnings-growth ratio of 1.91 and a beta of 0.77. The firm has a fifty day moving average of $68.84 and a two-hundred day moving average of $63.92.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its quarterly earnings results on Thursday, March 13th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01). Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The business had revenue of $380.52 million during the quarter, compared to analyst estimates of $395.74 million. During the same quarter last year, the company posted $0.36 earnings per share. The company's revenue was up 21.4% on a year-over-year basis. Research analysts predict that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.86%. This is an increase from Wheaton Precious Metals's previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, April 1st. Wheaton Precious Metals's payout ratio is presently 56.90%.

Wheaton Precious Metals Company 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.