Rhumbline Advisers Lowers Stock Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Rhumbline Advisers decreased its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 51.4% during the 4th quarter, HoldingsChannel.com reports. The fund 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc acquired a new position in shares of Wheaton Precious Metals during the 4th quarter valued at $29,000. Laurel Wealth Advisors LLC acquired a new position in shares of Wheaton Precious Metals during the 4th quarter valued at $39,000. GAMMA Investing LLC acquired a new position in shares of Wheaton Precious Metals during the 4th quarter valued at $41,000. Exchange Traded Concepts LLC acquired a new position in shares of Wheaton Precious Metals during the 4th quarter valued at $54,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Wheaton Precious Metals during the 4th quarter valued at $62,000. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Performance

Shares of Wheaton Precious Metals stock opened at $69.51 on Tuesday. The firm has a market cap of $31.53 billion, a PE ratio of 51.87, a price-to-earnings-growth ratio of 1.91 and a beta of 0.77. The firm’s 50-day simple moving average is $63.23 and its 200-day simple moving average is $62.35. Wheaton Precious Metals Corp. has a 1 year low of $43.18 and a 1 year high of $71.81.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on WPM shares. UBS Group assumed coverage on shares of Wheaton Precious Metals in a report on Monday, November 18th. They set a “buy” rating and a $78.00 target price on the stock. Stifel Canada upgraded shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price 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.