CIBC Asset Management Inc Boosts Stake in Wheaton Precious Metals Corp. (NYSE:WPM)

CIBC Asset Management Inc increased its position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 11.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,541,133 shares of the company's stock after buying an additional 267,973 shares during the period. CIBC Asset Management Inc owned 0.56% of Wheaton Precious Metals worth $144,356,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc purchased a new stake in shares of Wheaton Precious Metals in the fourth quarter worth about $29,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Wheaton Precious Metals in the fourth quarter worth about $39,000. GAMMA Investing LLC purchased a new stake in shares of Wheaton Precious Metals in the fourth quarter worth about $41,000. St. Johns Investment Management Company LLC purchased a new stake in shares of Wheaton Precious Metals in the third quarter worth about $48,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Wheaton Precious Metals in the fourth quarter worth about $54,000. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. UBS Group began coverage on Wheaton Precious Metals in a research report on Monday, November 18th. They issued a "buy" rating and a $78.00 target price on the stock. TD Securities boosted their price objective 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. Stifel Canada raised Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 4th. Finally, Raymond James boosted their price objective 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. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $71.67.

Wheaton Precious Metals Price Performance

Shares of WPM traded up $0.46 during mid-day trading on Thursday, reaching $69.90. 1,680,429 shares of the company's stock traded hands, compared to its average volume of 1,484,440. The stock has a market cap of $31.71 billion, a P/E ratio of 52.16, a P/E/G ratio of 1.74 and a beta of 0.77. The stock's 50-day moving average is $60.74 and its two-hundred day moving average is $61.38. Wheaton Precious Metals Corp. has a 12 month low of $38.57 and a 12 month high of $70.31.

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.