Tobam Cuts Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Tobam lessened its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 45.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,578 shares of the company’s stock after selling 8,695 shares during the quarter. Tobam’s holdings in Wheaton Precious Metals were worth $595,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in WPM. Merit Financial Group LLC increased its position in shares of Wheaton Precious Metals by 3.9% during the 4th quarter. Merit Financial Group LLC now owns 4,818 shares of the company’s stock valued at $271,000 after purchasing an additional 179 shares during the last quarter. Insigneo Advisory Services LLC grew its position in Wheaton Precious Metals by 2.2% during the third quarter. Insigneo Advisory Services LLC now owns 8,553 shares of the company’s stock valued at $522,000 after acquiring an additional 187 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Wheaton Precious Metals by 1.0% during the third quarter. Principal Financial Group Inc. now owns 19,761 shares of the company’s stock worth $1,208,000 after acquiring an additional 196 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in shares of Wheaton Precious Metals by 0.6% in the 3rd quarter. Vontobel Holding Ltd. now owns 34,558 shares of the company’s stock worth $2,110,000 after acquiring an additional 197 shares during the last quarter. Finally, Arkadios Wealth Advisors lifted its holdings in shares of Wheaton Precious Metals by 1.0% in the 3rd quarter. Arkadios Wealth Advisors now owns 21,575 shares of the company’s stock worth $1,318,000 after acquiring an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Performance

WPM opened at $66.87 on Friday. The stock has a market capitalization of $30.34 billion, a PE ratio of 49.91, a price-to-earnings-growth ratio of 1.61 and a beta of 0.77. The stock’s 50 day moving average price is $59.58 and its 200-day moving average price is $60.75. Wheaton Precious Metals Corp. has a 52-week low of $38.57 and a 52-week high of $68.64.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.34. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The business had revenue of $308.25 million for the quarter, compared to the consensus estimate of $324.57 million. During the same period in the previous year, the firm earned $0.27 EPS. Research analysts forecast that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Analyst Ratings Changes

WPM has been the topic of a number of analyst reports. TD Securities lifted their target price 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. Stifel Canada upgraded Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Raymond James boosted 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. UBS Group began coverage on Wheaton Precious Metals in a research report on Monday, November 18th. They set a “buy” rating and a $78.00 price target on the stock. Finally, National Bank Financial upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus 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.