Sprott Inc. lifted its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) by 4.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 799,533 shares of the company’s stock after acquiring an additional 36,654 shares during the quarter. Wheaton Precious Metals makes up about 2.5% of Sprott Inc.’s investment portfolio, making the stock its 13th largest position. Sprott Inc. owned approximately 0.18% of Wheaton Precious Metals worth $32,421,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in WPM. Integrated Advisors Network LLC bought a new stake in Wheaton Precious Metals in the third quarter valued at about $829,000. Creative Planning increased its holdings in Wheaton Precious Metals by 3.5% in the third quarter. Creative Planning now owns 33,650 shares of the company’s stock valued at $1,365,000 after purchasing an additional 1,142 shares during the last quarter. Ironwood Investment Management LLC bought a new stake in Wheaton Precious Metals in the third quarter valued at about $292,000. Tudor Investment Corp Et Al bought a new stake in Wheaton Precious Metals in the third quarter valued at about $642,000. Finally, Mercer Global Advisors Inc. ADV increased its holdings in Wheaton Precious Metals by 12.6% in the third quarter. Mercer Global Advisors Inc. ADV now owns 9,343 shares of the company’s stock valued at $379,000 after purchasing an additional 1,043 shares during the last quarter. Institutional investors own 58.51% of the company’s stock.
Wheaton Precious Metals Stock Performance
NYSE WPM traded up $0.46 during trading hours on Friday, hitting $44.71. 2,240,524 shares of the company traded hands, compared to its average volume of 2,669,996. The business’s 50-day moving average is $45.34 and its 200-day moving average is $44.83. Wheaton Precious Metals Corp. has a twelve month low of $38.37 and a twelve month high of $52.76. The stock has a market capitalization of $20.26 billion, a price-to-earnings ratio of 37.57, a P/E/G ratio of 9.32 and a beta of 0.76.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on WPM shares. BMO Capital Markets dropped their price objective on Wheaton Precious Metals from $61.00 to $59.00 and set an “outperform” rating for the company in a report on Wednesday, February 21st. National Bank Financial downgraded Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a report on Wednesday, February 21st. Jefferies Financial Group initiated coverage on Wheaton Precious Metals in a report on Thursday, February 29th. They issued a “buy” rating and a $49.00 price target for the company. Raymond James lowered their price target on 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. Finally, CIBC increased their price target on Wheaton Precious Metals from $66.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $60.50.
Get Our Latest Analysis on Wheaton Precious Metals
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 10, 2017. Wheaton Precious Metals Corp.
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