Bank of New York Mellon Corp Increases Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Bank of New York Mellon Corp increased its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 9.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 399,035 shares of the company’s stock after purchasing an additional 33,256 shares during the period. Bank of New York Mellon Corp owned 0.09% of Wheaton Precious Metals worth $22,442,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in WPM. Versant Capital Management Inc acquired a new position in Wheaton Precious Metals in the 4th quarter worth $29,000. Laurel Wealth Advisors LLC acquired a new position in Wheaton Precious Metals in the 4th quarter worth $39,000. GAMMA Investing LLC acquired a new position in Wheaton Precious Metals in the 4th quarter worth $41,000. Kestra Investment Management LLC acquired a new position in Wheaton Precious Metals in the 4th quarter worth $53,000. Finally, Exchange Traded Concepts LLC acquired a new position in Wheaton Precious Metals in the 4th quarter worth $54,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. UBS Group assumed coverage on shares of Wheaton Precious Metals in a research note on Monday, November 18th. They issued a “buy” rating and a $78.00 target price on the stock. Stifel Canada upgraded shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. 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 stock currently has an average rating of “Buy” and an average price target of $71.67.

Wheaton Precious Metals Stock Down 1.4 %

WPM opened at $69.51 on Tuesday. The firm has a market cap of $31.53 billion, a price-to-earnings ratio of 51.87, a price-to-earnings-growth ratio of 1.91 and a beta of 0.77. Wheaton Precious Metals Corp. has a fifty-two week low of $43.18 and a fifty-two week high of $71.81. The company’s 50-day moving average price is $63.23 and its 200 day moving average price is $62.35.

Wheaton Precious Metals 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.