Bennbridge Ltd Invests $2.98 Million in Wheaton Precious Metals Corp. (NYSE:WPM)

Bennbridge Ltd bought a new position in Wheaton Precious Metals Corp. (NYSE:WPM) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 53,000 shares of the company’s stock, valued at approximately $2,981,000. Wheaton Precious Metals accounts for about 3.0% of Bennbridge Ltd’s holdings, making the stock its 5th largest holding.

Several other hedge funds and other institutional investors have also modified their holdings of WPM. Versant Capital Management Inc acquired a new stake in shares of Wheaton Precious Metals in the fourth quarter worth $29,000. Promus Capital LLC acquired a new stake in shares of Wheaton Precious Metals in the fourth quarter worth $32,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Wheaton Precious Metals in the fourth quarter worth $38,000. Laurel Wealth Advisors LLC acquired a new stake in shares of Wheaton Precious Metals in the fourth quarter worth $39,000. Finally, Quintet Private Bank Europe S.A. acquired a new stake in shares of Wheaton Precious Metals in the fourth quarter worth $39,000. Institutional investors and hedge funds own 70.34% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on WPM. Stifel Canada raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. 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 price objective for the company. Nine equities 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.com, Wheaton Precious Metals has a consensus rating of “Buy” and a consensus target price of $71.67.

Wheaton Precious Metals Price Performance

NYSE WPM opened at $71.33 on Thursday. Wheaton Precious Metals Corp. has a fifty-two week low of $43.18 and a fifty-two week high of $72.00. The stock’s 50-day moving average is $63.80 and its two-hundred day moving average is $62.47. The firm has a market cap of $32.36 billion, a P/E ratio of 53.23, a price-to-earnings-growth ratio of 1.91 and a beta of 0.77.

About Wheaton Precious Metals

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.