Moran Wealth Management LLC Has $1.60 Million Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Moran Wealth Management LLC grew its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 39.2% in the fourth quarter, Holdings Channel reports. The fund owned 28,399 shares of the company’s stock after acquiring an additional 7,991 shares during the quarter. Moran Wealth Management LLC’s holdings in Wheaton Precious Metals were worth $1,597,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Van ECK Associates Corp raised its position in Wheaton Precious Metals by 6.4% in the fourth quarter. Van ECK Associates Corp now owns 20,534,104 shares of the company’s stock valued at $1,154,843,000 after purchasing an additional 1,231,999 shares during the last quarter. FMR LLC increased its stake in shares of Wheaton Precious Metals by 33.7% in the third 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 during the period. The Manufacturers Life Insurance Company raised its holdings in Wheaton Precious Metals by 22.5% in 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 during the last quarter. National Bank of Canada FI boosted its position in 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 worth $178,551,000 after buying an additional 513,890 shares during the period. Finally, CIBC Asset Management Inc grew its holdings in Wheaton Precious Metals by 11.8% during the 4th quarter. CIBC Asset Management Inc now owns 2,541,133 shares of the company’s stock worth $144,356,000 after acquiring an additional 267,973 shares during the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on WPM. Stifel Canada raised shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. UBS Group started coverage on shares of Wheaton Precious Metals in a research note on Monday, November 18th. They set a “buy” rating and a $78.00 target price for the company. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $71.67.

Wheaton Precious Metals Price Performance

WPM stock opened at $71.16 on Wednesday. The company’s 50-day moving average is $63.80 and its 200-day moving average is $62.47. The stock has a market capitalization of $32.28 billion, a PE ratio of 53.10, 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 $43.18 and a 1 year high of $72.00.

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.