Wheaton Precious Metals Corp. (NYSE:WPM) is Van ECK Associates Corp's 10th Largest Position

Van ECK Associates Corp raised its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 6.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,534,104 shares of the company's stock after acquiring an additional 1,231,999 shares during the period. Wheaton Precious Metals makes up approximately 1.5% of Van ECK Associates Corp's investment portfolio, making the stock its 10th largest position. Van ECK Associates Corp owned about 4.53% of Wheaton Precious Metals worth $1,154,843,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Wheaton Precious Metals by 2.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 319,450 shares of the company's stock valued at $17,965,000 after buying an additional 8,450 shares during the period. Leavell Investment Management Inc. increased its holdings in shares of Wheaton Precious Metals by 1.1% during the fourth quarter. Leavell Investment Management Inc. now owns 59,516 shares of the company's stock worth $3,347,000 after buying an additional 675 shares in the last quarter. Savant Capital LLC increased its holdings in shares of Wheaton Precious Metals by 18.3% during the fourth quarter. Savant Capital LLC now owns 10,548 shares of the company's stock worth $593,000 after buying an additional 1,628 shares in the last quarter. Stephens Inc. AR increased its holdings in shares of Wheaton Precious Metals by 4.0% during the fourth quarter. Stephens Inc. AR now owns 11,835 shares of the company's stock worth $666,000 after buying an additional 454 shares in the last quarter. Finally, Apollon Wealth Management LLC increased its holdings in Wheaton Precious Metals by 65.9% in the fourth quarter. Apollon Wealth Management LLC now owns 9,786 shares of the company's stock valued at $550,000 after purchasing an additional 3,887 shares during the period. Institutional investors own 70.34% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on WPM. Raymond James upped their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. TD Securities raised their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. UBS Group started coverage on shares of Wheaton Precious Metals in a report on Monday, November 18th. They issued 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 equities research 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, the company has a consensus rating of "Buy" and an average target price of $71.67.

Wheaton Precious Metals Stock Down 2.4 %

Shares of NYSE WPM traded down $1.68 during mid-day trading on Friday, reaching $67.58. 1,434,846 shares of the company were exchanged, compared to its average volume of 1,392,055. Wheaton Precious Metals Corp. has a 52 week low of $38.57 and a 52 week high of $69.58. The stock has a market capitalization of $30.66 billion, a PE ratio of 50.44, a PEG ratio of 1.70 and a beta of 0.77. The company's 50 day moving average price is $60.22 and its 200 day moving average price is $61.12.

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.