Sprott Inc. Buys 224,980 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Sprott Inc. boosted its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 29.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 993,447 shares of the company’s stock after buying an additional 224,980 shares during the quarter. Wheaton Precious Metals makes up about 3.3% of Sprott Inc.’s holdings, making the stock its 7th biggest position. Sprott Inc.’s holdings in Wheaton Precious Metals were worth $55,925,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in Wheaton Precious Metals by 4.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 955,540 shares of the company’s stock valued at $58,422,000 after purchasing an additional 36,970 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Wheaton Precious Metals by 0.8% during the 3rd quarter. Swiss National Bank now owns 1,370,800 shares of the company’s stock valued at $83,854,000 after buying an additional 10,600 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Wheaton Precious Metals in the 3rd quarter valued at approximately $1,287,000. CWA Asset Management Group LLC increased its holdings in Wheaton Precious Metals by 19.7% in the fourth quarter. CWA Asset Management Group LLC now owns 163,514 shares of the company’s stock worth $9,196,000 after buying an additional 26,924 shares during the last quarter. Finally, King Luther Capital Management Corp raised its position in Wheaton Precious Metals by 48.1% during the third quarter. King Luther Capital Management Corp now owns 1,501,037 shares of the company’s stock valued at $91,683,000 after acquiring an additional 487,190 shares in the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Performance

NYSE WPM opened at $68.95 on Wednesday. The stock has a market capitalization of $31.28 billion, a PE ratio of 51.46, a P/E/G ratio of 1.91 and a beta of 0.77. The stock has a 50-day simple moving average of $61.25 and a 200 day simple moving average of $61.76. Wheaton Precious Metals Corp. has a twelve month low of $38.57 and a twelve month high of $70.31.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. TD Securities increased their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Stifel Canada upgraded Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Finally, 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 price target for the company. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $71.67.

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.