Wheaton Precious Metals Corp. (NYSE:WPM) Shares Sold by Rhumbline Advisers

Rhumbline Advisers trimmed its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 51.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,464 shares of the company’s stock after selling 2,611 shares during the period. Rhumbline Advisers’ holdings in Wheaton Precious Metals were worth $139,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Van ECK Associates Corp increased its stake in shares of Wheaton Precious Metals by 6.4% during the 4th quarter. Van ECK Associates Corp now owns 20,534,104 shares of the company’s stock worth $1,154,843,000 after purchasing an additional 1,231,999 shares in the last quarter. FMR LLC increased its stake in shares of Wheaton Precious Metals by 33.7% during the 3rd quarter. FMR LLC now owns 14,665,913 shares of the company’s stock worth $895,723,000 after purchasing an additional 3,692,594 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Wheaton Precious Metals by 22.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,456,230 shares of the company’s stock worth $211,207,000 after purchasing an additional 634,843 shares in the last quarter. National Bank of Canada FI increased its stake in shares of 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 purchasing an additional 513,890 shares in the last quarter. Finally, CIBC Asset Management Inc increased its stake in shares of Wheaton Precious Metals by 10.6% during the 3rd quarter. CIBC Asset Management Inc now owns 2,273,160 shares of the company’s stock worth $140,099,000 after purchasing an additional 218,575 shares in the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WPM has been the subject of a number of recent research reports. 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 assumed coverage on shares of Wheaton Precious Metals in a research note 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 assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $71.67.

Wheaton Precious Metals Stock Down 1.4 %

Shares of NYSE WPM opened at $69.51 on Tuesday. Wheaton Precious Metals Corp. has a 52-week low of $43.18 and a 52-week high of $71.81. The firm has a fifty day moving average of $63.23 and a 200-day moving average of $62.35. The stock has a market capitalization of $31.53 billion, a PE ratio of 51.87, a P/E/G 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.