Wheaton Precious Metals Corp. (NYSE:WPM) Shares Sold by Louisbourg Investments Inc.

Louisbourg Investments Inc. cut its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,424 shares of the company’s stock after selling 1,225 shares during the quarter. Louisbourg Investments Inc.’s holdings in Wheaton Precious Metals were worth $4,468,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in WPM. Merit Financial Group LLC increased its stake in shares of Wheaton Precious Metals by 3.9% in the 4th quarter. Merit Financial Group LLC now owns 4,818 shares of the company’s stock valued at $271,000 after purchasing an additional 179 shares in the last quarter. Insigneo Advisory Services LLC grew its holdings in Wheaton Precious Metals by 2.2% in the third quarter. Insigneo Advisory Services LLC now owns 8,553 shares of the company’s stock valued at $522,000 after purchasing an additional 187 shares during the period. Principal Financial Group Inc. increased its position in shares of Wheaton Precious Metals by 1.0% in the third quarter. Principal Financial Group Inc. now owns 19,761 shares of the company’s stock valued at $1,208,000 after buying an additional 196 shares in the last quarter. Vontobel Holding Ltd. raised its stake in shares of Wheaton Precious Metals by 0.6% during the 3rd quarter. Vontobel Holding Ltd. now owns 34,558 shares of the company’s stock worth $2,110,000 after buying an additional 197 shares during the period. Finally, Arkadios Wealth Advisors lifted its position in shares of Wheaton Precious Metals by 1.0% during the 3rd quarter. Arkadios Wealth Advisors now owns 21,575 shares of the company’s stock valued at $1,318,000 after buying an additional 210 shares in the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Stock Performance

NYSE WPM opened at $66.93 on Wednesday. The stock’s fifty day moving average is $59.86 and its two-hundred day moving average is $60.93. The firm has a market capitalization of $30.36 billion, a P/E ratio of 49.95, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77. Wheaton Precious Metals Corp. has a fifty-two week low of $38.57 and a fifty-two week high of $68.64.

Analysts Set New Price Targets

WPM has been the subject of several recent analyst reports. UBS Group initiated coverage on shares of Wheaton Precious Metals in a report on Monday, November 18th. They issued a “buy” rating and a $78.00 price target for the company. 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. Raymond James raised their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, TD Securities boosted their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Wheaton Precious Metals currently has a consensus rating of “Buy” and an average target price 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.