Alberta Investment Management Corp increased its holdings in Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) by 2.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 950,337 shares of the company’s stock after buying an additional 25,500 shares during the period. Alberta Investment Management Corp owned 0.21% of Wheaton Precious Metals worth $38,745,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the business. Insigneo Advisory Services LLC bought a new position in Wheaton Precious Metals in the 3rd quarter worth approximately $352,000. Quadrature Capital Ltd boosted its holdings in Wheaton Precious Metals by 104.7% in the 3rd quarter. Quadrature Capital Ltd now owns 231,100 shares of the company’s stock worth $9,438,000 after buying an additional 118,200 shares during the period. United Services Automobile Association boosted its holdings in Wheaton Precious Metals by 44.8% in the 3rd quarter. United Services Automobile Association now owns 15,262 shares of the company’s stock worth $619,000 after buying an additional 4,725 shares during the period. Alpine Global Management LLC bought a new position in Wheaton Precious Metals in the 3rd quarter worth approximately $214,000. Finally, MQS Management LLC bought a new position in Wheaton Precious Metals in the 3rd quarter worth approximately $676,000. 58.51% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
WPM has been the subject of several analyst reports. Berenberg Bank cut their price target on shares of Wheaton Precious Metals from $57.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. Raymond James cut their price target on shares of Wheaton Precious Metals from $60.00 to $58.00 and set a “market perform” rating for the company in a report on Thursday, February 22nd. BMO Capital Markets cut their price target on shares of Wheaton Precious Metals from $61.00 to $59.00 and set an “outperform” rating for the company in a report on Wednesday, February 21st. Jefferies Financial Group initiated coverage on shares of Wheaton Precious Metals in a report on Thursday. They issued a “buy” rating and a $49.00 price target for the company. Finally, National Bank Financial downgraded shares of Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a report on Wednesday, February 21st. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $60.46.
Check Out Our Latest Analysis on Wheaton Precious Metals
Wheaton Precious Metals Stock Performance
NYSE:WPM traded up $0.78 during trading hours on Friday, reaching $41.97. The company’s stock had a trading volume of 3,047,201 shares, compared to its average volume of 2,038,534. The firm has a market capitalization of $19.02 billion, a price-to-earnings ratio of 35.31, a PEG ratio of 8.11 and a beta of 0.80. The firm has a 50-day simple moving average of $46.12 and a 200-day simple moving average of $44.75. Wheaton Precious Metals Corp. has a 1 year low of $38.37 and a 1 year high of $52.76.
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 10, 2017. Wheaton Precious Metals Corp.
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