Connor Clark & Lunn Investment Management Ltd. Sells 303,924 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Connor Clark & Lunn Investment Management Ltd. reduced its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 12.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,102,167 shares of the company’s stock after selling 303,924 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Wheaton Precious Metals were worth $118,173,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc bought a new stake in shares of Wheaton Precious Metals in the 4th quarter worth approximately $29,000. Promus Capital LLC purchased a new position in Wheaton Precious Metals during the 4th quarter valued at about $32,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Wheaton Precious Metals in the fourth quarter worth about $38,000. Laurel Wealth Advisors LLC bought a new position in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $39,000. Finally, Quintet Private Bank Europe S.A. purchased a new position in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Up 2.1 %

Shares of WPM stock opened at $71.16 on Wednesday. The company has a 50 day moving average price of $63.80 and a 200-day moving average price of $62.47. Wheaton Precious Metals Corp. has a 52 week low of $43.18 and a 52 week high of $72.00. The firm has a market capitalization of $32.28 billion, a PE ratio of 53.10, a P/E/G ratio of 1.91 and a beta of 0.77.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on WPM shares. UBS Group started coverage on Wheaton Precious Metals in a research note on Monday, November 18th. They issued 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 research note on Tuesday, February 4th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Wheaton Precious Metals presently has a consensus rating of “Buy” and an average target price of $71.67.

Wheaton Precious Metals 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.