NewEdge Wealth LLC Lowers Position in Wheaton Precious Metals Corp. (NYSE:WPM)

NewEdge Wealth LLC lessened its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 0.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,577 shares of the company’s stock after selling 166 shares during the period. NewEdge Wealth LLC’s holdings in Wheaton Precious Metals were worth $3,407,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. FMR LLC lifted its position in shares of Wheaton Precious Metals by 33.7% during the 3rd quarter. FMR LLC now owns 14,665,913 shares of the company’s stock valued at $895,723,000 after buying an additional 3,692,594 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Wheaton Precious Metals by 6.4% during the 4th quarter. Van ECK Associates Corp now owns 20,534,104 shares of the company’s stock valued at $1,154,843,000 after buying an additional 1,231,999 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Wheaton Precious Metals by 1,865.2% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,245,534 shares of the company’s stock valued at $76,061,000 after buying an additional 1,182,156 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Wheaton Precious Metals by 22.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,456,230 shares of the company’s stock valued at $211,207,000 after buying an additional 634,843 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in shares of Wheaton Precious Metals by 21.3% during the 3rd quarter. National Bank of Canada FI now owns 2,923,402 shares of the company’s stock valued at $178,551,000 after buying an additional 513,890 shares in the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Trading Up 1.5 %

NYSE:WPM opened at $69.07 on Friday. The firm has a market cap of $31.34 billion, a P/E ratio of 51.55, a PEG ratio of 1.91 and a beta of 0.77. The stock’s 50 day simple moving average is $61.73 and its 200-day simple moving average is $61.87. Wheaton Precious Metals Corp. has a 12-month low of $40.50 and a 12-month high of $70.80.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WPM. UBS Group began coverage on Wheaton Precious Metals in a research report on Monday, November 18th. They set a “buy” rating and a $78.00 target price on the stock. Stifel Canada upgraded Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Finally, TD Securities increased their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $71.67.

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 2017. Wheaton Precious Metals Corp.