Bowen Hanes & Co. Inc. Sells 86,370 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Bowen Hanes & Co. Inc. lowered its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 11.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 653,645 shares of the company’s stock after selling 86,370 shares during the period. Bowen Hanes & Co. Inc.’s holdings in Wheaton Precious Metals were worth $36,761,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Janney Montgomery Scott LLC increased its holdings in Wheaton Precious Metals by 3.5% during the third quarter. Janney Montgomery Scott LLC now owns 37,639 shares of the company’s stock valued at $2,299,000 after buying an additional 1,273 shares during the last quarter. Principal Financial Group Inc. grew its stake in Wheaton Precious Metals by 1.0% during the third quarter. Principal Financial Group Inc. now owns 19,761 shares of the company’s stock valued at $1,208,000 after acquiring an additional 196 shares in the last quarter. Apollon Wealth Management LLC grew its stake in shares of Wheaton Precious Metals by 47.7% in the 3rd quarter. Apollon Wealth Management LLC now owns 5,899 shares of the company’s stock worth $360,000 after buying an additional 1,904 shares in the last quarter. Empower Advisory Group LLC purchased a new position in shares of Wheaton Precious Metals in the 3rd quarter worth $217,000. Finally, Plato Investment Management Ltd purchased a new position in shares of Wheaton Precious Metals in the 3rd quarter worth $950,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on WPM. Stifel Canada upgraded shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. 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 target for the company. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Wheaton Precious Metals has a consensus rating of “Buy” and an average target price of $71.67.

Wheaton Precious Metals Price Performance

Shares of WPM stock opened at $71.33 on Thursday. The firm has a market cap of $32.36 billion, a PE ratio of 53.23, a price-to-earnings-growth ratio of 1.91 and a beta of 0.77. The company has a 50-day moving average of $63.80 and a two-hundred day moving average of $62.47. Wheaton Precious Metals Corp. has a 1-year low of $43.18 and a 1-year high of $72.00.

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.