Equitable Trust Co. Has $2.31 Million Stock Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Equitable Trust Co. trimmed its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 0.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 41,084 shares of the company’s stock after selling 335 shares during the period. Equitable Trust Co.’s holdings in Wheaton Precious Metals were worth $2,311,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC increased its position in Wheaton Precious Metals by 33.7% during the third quarter. FMR LLC now owns 14,665,913 shares of the company’s stock worth $895,723,000 after acquiring an additional 3,692,594 shares during the period. The Manufacturers Life Insurance Company increased its position 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 worth $211,207,000 after acquiring an additional 634,843 shares during the period. National Bank of Canada FI increased its position 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. CIBC Asset Management Inc increased its position in Wheaton Precious Metals by 10.6% during the third quarter. CIBC Asset Management Inc now owns 2,273,160 shares of the company’s stock worth $140,099,000 after acquiring an additional 218,575 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Wheaton Precious Metals by 5.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,002,629 shares of the company’s stock valued at $121,939,000 after buying an additional 111,769 shares during the period. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Stock Performance

WPM opened at $67.70 on Tuesday. The firm’s 50-day simple moving average is $59.78 and its 200-day simple moving average is $60.87. Wheaton Precious Metals Corp. has a twelve month low of $38.57 and a twelve month high of $68.64. The firm has a market cap of $30.71 billion, a price-to-earnings ratio of 50.52, a PEG ratio of 1.70 and a beta of 0.77.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. UBS Group assumed coverage on shares of Wheaton Precious Metals in a report on Monday, November 18th. They issued a “buy” rating and a $78.00 price target on the stock. Stifel Canada raised shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. TD Securities boosted their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Raymond James boosted their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Wheaton Precious Metals currently has a consensus rating of “Buy” and a consensus price target of $71.67.

About Wheaton Precious Metals

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.