Proficio Capital Partners LLC Boosts Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Proficio Capital Partners LLC increased its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 5,754.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 485,914 shares of the company’s stock after purchasing an additional 477,614 shares during the quarter. Proficio Capital Partners LLC’s holdings in Wheaton Precious Metals were worth $27,328,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc purchased a new stake in Wheaton Precious Metals during the fourth quarter worth approximately $29,000. Laurel Wealth Advisors LLC purchased a new stake in Wheaton Precious Metals during the fourth quarter worth approximately $39,000. GAMMA Investing LLC purchased a new stake in Wheaton Precious Metals during the fourth quarter worth approximately $41,000. Kestra Investment Management LLC purchased a new stake in Wheaton Precious Metals during the fourth quarter worth approximately $53,000. Finally, Exchange Traded Concepts LLC purchased a new stake in Wheaton Precious Metals during the fourth quarter worth approximately $54,000. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. UBS Group initiated coverage on Wheaton Precious Metals in a research note on Monday, November 18th. They set a “buy” rating and a $78.00 target price for the company. 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 note on Friday, November 8th. Finally, Stifel Canada upgraded 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 assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $71.67.

Wheaton Precious Metals Trading Up 1.5 %

NYSE:WPM opened at $69.07 on Friday. The firm has a market cap of $31.34 billion, a P/E ratio of 51.55, a PEG ratio of 1.91 and a beta of 0.77. The stock’s 50 day simple moving average is $61.73 and its 200-day simple moving average is $61.87. Wheaton Precious Metals Corp. has a 12-month low of $40.50 and a 12-month high of $70.80.

Wheaton Precious Metals Company 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.