Invesco Ltd. lifted its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) by 0.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,745,268 shares of the company’s stock after purchasing an additional 7,575 shares during the period. Invesco Ltd. owned approximately 0.39% of Wheaton Precious Metals worth $70,771,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the business. First Eagle Investment Management LLC lifted its holdings in Wheaton Precious Metals by 3.2% in the third quarter. First Eagle Investment Management LLC now owns 20,998,263 shares of the company’s stock valued at $851,480,000 after buying an additional 644,746 shares during the period. Vanguard Group Inc. lifted its holdings in Wheaton Precious Metals by 3.3% in the third quarter. Vanguard Group Inc. now owns 15,310,279 shares of the company’s stock valued at $495,440,000 after buying an additional 485,237 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Wheaton Precious Metals by 10.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,585,266 shares of the company’s stock valued at $307,583,000 after buying an additional 713,381 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Wheaton Precious Metals by 6.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,344,956 shares of the company’s stock valued at $301,893,000 after buying an additional 361,138 shares during the period. Finally, Norges Bank acquired a new position in Wheaton Precious Metals in the fourth quarter valued at approximately $243,010,000. 58.51% of the stock is currently owned by institutional investors and hedge funds.
Wheaton Precious Metals Stock Performance
NYSE WPM opened at $39.86 on Monday. The firm has a 50-day moving average of $46.87 and a 200-day moving average of $44.88. The stock has a market cap of $18.06 billion, a PE ratio of 33.50, a P/E/G ratio of 8.13 and a beta of 0.80. Wheaton Precious Metals Corp. has a 52-week low of $38.37 and a 52-week high of $52.76.
Analyst Upgrades and Downgrades
Several brokerages have commented on WPM. TD Securities downgraded shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating and lowered their target price for the company from $58.00 to $51.00 in a research note on Wednesday, February 21st. TheStreet downgraded shares of Wheaton Precious Metals from a “b-” rating to a “c+” rating in a research note on Friday, November 10th. Raymond James lowered their target price on shares of Wheaton Precious Metals from $60.00 to $58.00 and set a “market perform” rating for the company in a research note on Thursday. BMO Capital Markets lowered their target price on shares of Wheaton Precious Metals from $61.00 to $59.00 and set an “outperform” rating for the company in a research note on Wednesday, February 21st. Finally, National Bank Financial downgraded shares of Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, February 21st. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $61.42.
Read Our Latest Stock Analysis on WPM
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 10, 2017. Wheaton Precious Metals Corp.
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