NewEdge Wealth LLC lessened its position in Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) by 0.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 60,577 shares of the company’s stock after selling 166 shares during the quarter. NewEdge Wealth LLC’s holdings in Wheaton Precious Metals were worth $3,407,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc acquired a new stake in Wheaton Precious Metals during the fourth quarter valued at $29,000. Laurel Wealth Advisors LLC acquired a new stake in Wheaton Precious Metals during the fourth quarter valued at $39,000. GAMMA Investing LLC acquired a new stake in Wheaton Precious Metals during the fourth quarter valued at $41,000. Kestra Investment Management LLC acquired a new stake in Wheaton Precious Metals during the fourth quarter valued at $53,000. Finally, Exchange Traded Concepts LLC acquired a new stake in Wheaton Precious Metals during the fourth quarter valued at $54,000. Institutional investors own 70.34% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the company. TD Securities lifted their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, November 8th. UBS Group started coverage on Wheaton Precious Metals in a research report on Monday, November 18th. They issued a “buy” rating and a $78.00 price target for the company. Finally, Stifel Canada raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Wheaton Precious Metals has an average rating of “Buy” and a consensus target price of $71.67.
Wheaton Precious Metals Trading Up 1.5 %
WPM stock opened at $69.07 on Friday. The stock has a 50-day moving average price of $61.73 and a two-hundred day moving average price of $61.87. The stock has a market cap of $31.34 billion, a PE ratio of 51.55, a price-to-earnings-growth ratio of 1.91 and a beta of 0.77. Wheaton Precious Metals Corp. has a 1 year low of $40.50 and a 1 year high of $70.80.
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 2017. Wheaton Precious Metals Corp.
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