Concurrent Investment Advisors LLC Raises Stake in Wheaton Precious Metals Corp. (NYSE:WPM)

Concurrent Investment Advisors LLC boosted its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 8.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,492 shares of the company’s stock after buying an additional 336 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Wheaton Precious Metals were worth $253,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of WPM. Van ECK Associates Corp lifted its stake in shares of Wheaton Precious Metals by 6.4% in the 4th quarter. Van ECK Associates Corp now owns 20,534,104 shares of the company’s stock valued at $1,154,843,000 after purchasing an additional 1,231,999 shares during the period. FMR LLC increased its holdings in Wheaton Precious Metals by 33.7% in the third quarter. FMR LLC now owns 14,665,913 shares of the company’s stock valued at $895,723,000 after buying an additional 3,692,594 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Wheaton Precious Metals by 22.5% in the third quarter. The Manufacturers Life Insurance Company now owns 3,456,230 shares of the company’s stock worth $211,207,000 after acquiring an additional 634,843 shares during the period. National Bank of Canada FI boosted 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 acquiring an additional 513,890 shares in the last quarter. Finally, CIBC Asset Management Inc grew its position in shares of Wheaton Precious Metals by 11.8% during the 4th quarter. CIBC Asset Management Inc now owns 2,541,133 shares of the company’s stock valued at $144,356,000 after acquiring an additional 267,973 shares during the period. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WPM has been the subject of a number of recent analyst reports. TD Securities boosted their price objective 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 shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Finally, UBS Group began coverage on shares of Wheaton Precious Metals in a report on Monday, November 18th. They set a “buy” rating and a $78.00 price objective on the stock. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $71.67.

Wheaton Precious Metals Stock Up 0.2 %

Shares of WPM opened at $68.95 on Wednesday. The company has a market capitalization of $31.28 billion, a price-to-earnings ratio of 51.46, a price-to-earnings-growth ratio of 1.91 and a beta of 0.77. Wheaton Precious Metals Corp. has a 52-week low of $38.57 and a 52-week high of $70.31. The stock has a 50 day moving average price of $61.25 and a 200 day moving average price of $61.76.

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.