Wheaton Precious Metals Corp. (NYSE:WPM) is Van ECK Associates Corp’s 10th Largest Position

Van ECK Associates Corp increased its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 6.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 20,534,104 shares of the company’s stock after buying an additional 1,231,999 shares during the quarter. Wheaton Precious Metals makes up 1.5% of Van ECK Associates Corp’s portfolio, making the stock its 10th biggest position. Van ECK Associates Corp’s holdings in Wheaton Precious Metals were worth $1,154,843,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Versant Capital Management Inc bought a new stake in Wheaton Precious Metals in the fourth quarter worth $29,000. Laurel Wealth Advisors LLC purchased a new position in shares of Wheaton Precious Metals in the 4th quarter worth about $39,000. GAMMA Investing LLC bought a new position in Wheaton Precious Metals in the 4th quarter worth about $41,000. St. Johns Investment Management Company LLC purchased a new stake in Wheaton Precious Metals during the 3rd quarter valued at about $48,000. Finally, Exchange Traded Concepts LLC bought a new stake in Wheaton Precious Metals during the 4th quarter valued at about $54,000. Institutional investors own 70.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on WPM shares. 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. UBS Group started coverage on Wheaton Precious Metals in a research report on Monday, November 18th. They issued a “buy” rating and a $78.00 price objective on the stock. Raymond James increased their target price on Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, TD Securities boosted their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $71.67.

Wheaton Precious Metals Trading Up 2.3 %

Shares of WPM opened at $68.31 on Thursday. The firm has a fifty day simple moving average of $59.97 and a two-hundred day simple moving average of $60.98. The firm has a market cap of $30.99 billion, a PE ratio of 50.98, a P/E/G ratio of 1.70 and a beta of 0.77. Wheaton Precious Metals Corp. has a 1-year low of $38.57 and a 1-year high of $68.64.

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.