Sprott Inc. Has $55.93 Million Stock Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Sprott Inc. lifted its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 29.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 993,447 shares of the company’s stock after purchasing an additional 224,980 shares during the quarter. Wheaton Precious Metals comprises about 3.3% of Sprott Inc.’s investment portfolio, making the stock its 7th largest holding. Sprott Inc. owned 0.22% of Wheaton Precious Metals worth $55,925,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Van ECK Associates Corp boosted its stake in Wheaton Precious Metals by 6.4% during 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 in the last quarter. FMR LLC lifted its holdings in shares of 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 during the period. The Manufacturers Life Insurance Company boosted its stake in Wheaton Precious Metals by 22.5% during the third quarter. The Manufacturers Life Insurance Company now owns 3,456,230 shares of the company’s stock valued at $211,207,000 after buying an additional 634,843 shares in the last quarter. National Bank of Canada FI grew its holdings in Wheaton Precious Metals by 21.3% during the third 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 during the period. Finally, CIBC Asset Management Inc raised its position in Wheaton Precious Metals by 11.8% in the fourth quarter. CIBC Asset Management Inc now owns 2,541,133 shares of the company’s stock worth $144,356,000 after acquiring an additional 267,973 shares in the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on WPM shares. Stifel Canada upgraded shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. TD Securities lifted 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 report on Friday, November 8th. Finally, UBS Group assumed coverage on Wheaton Precious Metals in a research report on Monday, November 18th. They set a “buy” rating and a $78.00 price objective for the company. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $71.67.

Wheaton Precious Metals Stock Up 0.2 %

Shares of NYSE:WPM opened at $68.95 on Wednesday. The company has a market cap of $31.28 billion, a P/E ratio of 51.46, a price-to-earnings-growth ratio of 1.91 and a beta of 0.77. The company’s fifty day moving average is $61.25 and its two-hundred day moving average is $61.76. Wheaton Precious Metals Corp. has a 12-month low of $38.57 and a 12-month high of $70.31.

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.