Sumitomo Mitsui Trust Group Inc. Cuts Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 6.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,901 shares of the company’s stock after selling 439 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Wheaton Precious Metals were worth $332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of WPM. Versant Capital Management Inc bought a new position in Wheaton Precious Metals in the 4th quarter worth $29,000. Laurel Wealth Advisors LLC bought a new position in Wheaton Precious Metals in the 4th quarter worth $39,000. GAMMA Investing LLC bought a new position in Wheaton Precious Metals in the 4th quarter worth $41,000. St. Johns Investment Management Company LLC bought a new position in Wheaton Precious Metals in the 3rd quarter worth $48,000. Finally, Exchange Traded Concepts LLC bought a new stake in Wheaton Precious Metals during the fourth quarter valued at about $54,000. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Price Performance

Wheaton Precious Metals stock opened at $67.58 on Friday. The firm has a 50 day simple moving average of $60.22 and a 200-day simple moving average of $61.12. Wheaton Precious Metals Corp. has a 1-year low of $38.57 and a 1-year high of $69.58. The stock has a market cap of $30.66 billion, a price-to-earnings ratio of 50.44, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Stifel Canada raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. TD Securities raised their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a report on Friday, November 8th. UBS Group started coverage on Wheaton Precious Metals in a report on Monday, November 18th. They set a “buy” rating and a $78.00 price target on the stock. Finally, Raymond James raised their price objective on 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 investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $71.67.

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.