Wheaton Precious Metals Corp. (NYSE:WPM) Stake Boosted by Van ECK Associates Corp

Van ECK Associates Corp grew its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 6.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,534,104 shares of the company’s stock after purchasing an additional 1,231,999 shares during the quarter. Wheaton Precious Metals makes up approximately 1.5% of Van ECK Associates Corp’s portfolio, making the stock its 10th biggest position. Van ECK Associates Corp owned 4.53% of Wheaton Precious Metals worth $1,154,843,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in Wheaton Precious Metals by 4.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 955,540 shares of the company’s stock valued at $58,422,000 after buying an additional 36,970 shares during the last quarter. Well Done LLC increased its position in shares of Wheaton Precious Metals by 173.9% in the third quarter. Well Done LLC now owns 38,108 shares of the company’s stock valued at $2,328,000 after acquiring an additional 24,196 shares during the period. Swiss National Bank raised its stake in shares of Wheaton Precious Metals by 0.8% during the third quarter. Swiss National Bank now owns 1,370,800 shares of the company’s stock valued at $83,854,000 after acquiring an additional 10,600 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Wheaton Precious Metals during the third quarter worth about $1,287,000. Finally, CWA Asset Management Group LLC grew its stake in shares of Wheaton Precious Metals by 19.7% in the fourth quarter. CWA Asset Management Group LLC now owns 163,514 shares of the company’s stock worth $9,196,000 after purchasing an additional 26,924 shares during the last quarter. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Up 2.3 %

Shares of WPM stock opened at $68.31 on Thursday. The stock has a market cap of $30.99 billion, a price-to-earnings ratio of 50.98, a PEG ratio of 1.70 and a beta of 0.77. The business’s fifty day moving average is $59.97 and its 200 day moving average is $60.98. Wheaton Precious Metals Corp. has a twelve month low of $38.57 and a twelve month high of $68.64.

Wall Street Analyst Weigh In

A number of research analysts have commented on WPM shares. TD Securities upped their price target 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. Stifel Canada raised 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 Wheaton Precious Metals in a research note on Monday, November 18th. They issued a “buy” rating and a $78.00 price target for the company. Finally, Raymond James boosted their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target 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.