PKO Investment Management Joint Stock Co Lowers Position in Wheaton Precious Metals Corp. $WPM

PKO Investment Management Joint Stock Co lowered its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 3.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 133,400 shares of the company’s stock after selling 4,491 shares during the period. Wheaton Precious Metals accounts for about 1.5% of PKO Investment Management Joint Stock Co’s investment portfolio, making the stock its 15th largest holding. PKO Investment Management Joint Stock Co’s holdings in Wheaton Precious Metals were worth $17,473,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Parvin Asset Management LLC raised its holdings in Wheaton Precious Metals by 0.6% in the fourth quarter. Parvin Asset Management LLC now owns 11,925 shares of the company’s stock worth $1,401,000 after purchasing an additional 75 shares in the last quarter. Johnson Investment Counsel Inc. boosted its holdings in shares of Wheaton Precious Metals by 0.4% during the 4th quarter. Johnson Investment Counsel Inc. now owns 20,465 shares of the company’s stock valued at $2,405,000 after buying an additional 75 shares in the last quarter. Concurrent Investment Advisors LLC grew its position in shares of Wheaton Precious Metals by 1.9% in the 4th quarter. Concurrent Investment Advisors LLC now owns 4,203 shares of the company’s stock worth $494,000 after buying an additional 78 shares during the period. Gables Capital Management Inc. grew its position in shares of Wheaton Precious Metals by 7.9% in the 4th quarter. Gables Capital Management Inc. now owns 1,079 shares of the company’s stock worth $127,000 after buying an additional 79 shares during the period. Finally, Focus Financial Network Inc. increased its stake in shares of Wheaton Precious Metals by 2.5% in the 4th quarter. Focus Financial Network Inc. now owns 3,305 shares of the company’s stock worth $388,000 after acquiring an additional 81 shares in the last quarter. 70.34% of the stock is currently owned by institutional investors.

Wheaton Precious Metals Stock Performance

Shares of WPM stock opened at $121.72 on Tuesday. Wheaton Precious Metals Corp. has a one year low of $85.59 and a one year high of $165.76. The company’s 50-day moving average is $131.26 and its 200 day moving average is $132.66. The company has a market capitalization of $55.27 billion, a price-to-earnings ratio of 30.74, a price-to-earnings-growth ratio of 2.31 and a beta of 0.51.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.04. The business had revenue of $901.47 million during the quarter, compared to analysts’ expectations of $868.35 million. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The business’s revenue for the quarter was up 91.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.55 earnings per share. As a group, research analysts predict that Wheaton Precious Metals Corp. will post 4.99 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were issued a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Wednesday, May 27th. Wheaton Precious Metals’s payout ratio is presently 19.70%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on WPM. Scotiabank boosted their price objective on shares of Wheaton Precious Metals from $178.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. TD Securities raised their target price on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Wall Street Zen lowered shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. UBS Group raised Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 price target on the stock in a research report on Friday, March 27th. Finally, BMO Capital Markets began coverage on Wheaton Precious Metals in a research report on Thursday, April 9th. They set an “outperform” rating and a $240.00 price objective for the company. Thirteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Wheaton Precious Metals currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.64.

Wheaton Precious Metals Profile

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.