Turning Point Benefit Group Inc. Makes New $3.25 Million Investment in Wheaton Precious Metals Corp. (NYSE:WPM)

Turning Point Benefit Group Inc. purchased a new position in Wheaton Precious Metals Corp. (NYSE:WPM) during the fourth quarter, Holdings Channel reports. The fund purchased 57,972 shares of the company’s stock, valued at approximately $3,250,000. Wheaton Precious Metals accounts for 3.1% of Turning Point Benefit Group Inc.’s holdings, making the stock its 6th largest holding.

Other large investors have also bought and sold shares of the company. Versant Capital Management Inc purchased a new position in Wheaton Precious Metals in the 4th quarter worth approximately $29,000. Laurel Wealth Advisors LLC bought a new stake in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $39,000. GAMMA Investing LLC purchased a new stake in Wheaton Precious Metals in the fourth quarter worth $41,000. St. Johns Investment Management Company LLC purchased a new stake in Wheaton Precious Metals in the third quarter worth $48,000. Finally, Kestra Investment Management LLC purchased a new stake in Wheaton Precious Metals in the fourth quarter worth $53,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on WPM. Raymond James upped their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. UBS Group began coverage on Wheaton Precious Metals in a research note on Monday, November 18th. They issued a “buy” rating and a $78.00 price target on the stock. TD Securities upped 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. Finally, Stifel Canada raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $71.67.

Wheaton Precious Metals Trading Down 2.8 %

NYSE WPM opened at $68.01 on Friday. Wheaton Precious Metals Corp. has a 12 month low of $38.57 and a 12 month high of $70.31. The stock has a market cap of $30.85 billion, a P/E ratio of 50.75, a P/E/G ratio of 1.91 and a beta of 0.77. The stock’s fifty day moving average price is $60.89 and its 200-day moving average price is $61.47.

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.