Concurrent Investment Advisors LLC Increases Stock Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Concurrent Investment Advisors LLC lifted its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 8.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,492 shares of the company’s stock after acquiring an additional 336 shares during the period. Concurrent Investment Advisors LLC’s holdings in Wheaton Precious Metals were worth $253,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WPM. Sequoia Financial Advisors LLC lifted its stake in shares of Wheaton Precious Metals by 26.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,633 shares of the company’s stock worth $344,000 after purchasing an additional 1,171 shares during the period. International Assets Investment Management LLC grew its holdings in Wheaton Precious Metals by 5,864.8% during the third quarter. International Assets Investment Management LLC now owns 278,196 shares of the company’s stock valued at $16,992,000 after purchasing an additional 273,532 shares during the period. Assenagon Asset Management S.A. increased its position in Wheaton Precious Metals by 12.8% in the third quarter. Assenagon Asset Management S.A. now owns 19,007 shares of the company’s stock worth $1,162,000 after buying an additional 2,157 shares in the last quarter. Ballentine Partners LLC bought a new position in shares of Wheaton Precious Metals in the third quarter worth about $208,000. Finally, Forsta AP Fonden lifted its position in shares of Wheaton Precious Metals by 5.6% during the 3rd quarter. Forsta AP Fonden now owns 97,400 shares of the company’s stock valued at $5,955,000 after buying an additional 5,200 shares in the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Performance

NYSE:WPM opened at $68.95 on Wednesday. The company’s 50-day simple moving average is $61.25 and its 200-day simple moving average is $61.76. Wheaton Precious Metals Corp. has a fifty-two week low of $38.57 and a fifty-two week high of $70.31. The stock has a market capitalization of $31.28 billion, a P/E ratio of 51.46, a P/E/G ratio of 1.91 and a beta of 0.77.

Analysts Set New Price Targets

Several analysts recently issued reports on WPM shares. TD Securities increased their target price on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. UBS Group assumed coverage on shares of Wheaton Precious Metals in a report on Monday, November 18th. They set a “buy” rating and a $78.00 price objective for the company. Finally, Stifel Canada raised shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus 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.