Wetherby Asset Management Inc. Makes New Investment in Wheaton Precious Metals Corp (NYSE:WPM)

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Wetherby Asset Management Inc. purchased a new position in Wheaton Precious Metals Corp (NYSE:WPM) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 8,527 shares of the company’s stock, valued at approximately $224,000.

A number of other hedge funds also recently added to or reduced their stakes in WPM. Signaturefd LLC grew its stake in Wheaton Precious Metals by 39.2% in the 2nd quarter. Signaturefd LLC now owns 1,758 shares of the company’s stock worth $43,000 after buying an additional 495 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Wheaton Precious Metals by 135.8% in the 2nd quarter. Assetmark Inc. now owns 2,014 shares of the company’s stock worth $49,000 after acquiring an additional 1,160 shares during the last quarter. AdvisorNet Financial Inc lifted its holdings in shares of Wheaton Precious Metals by 36.1% in the 3rd quarter. AdvisorNet Financial Inc now owns 1,905 shares of the company’s stock worth $50,000 after acquiring an additional 505 shares during the last quarter. NEXT Financial Group Inc lifted its holdings in shares of Wheaton Precious Metals by 67.0% in the 2nd quarter. NEXT Financial Group Inc now owns 2,263 shares of the company’s stock worth $55,000 after acquiring an additional 908 shares during the last quarter. Finally, Huntington National Bank lifted its holdings in shares of Wheaton Precious Metals by 318.3% in the 2nd quarter. Huntington National Bank now owns 2,773 shares of the company’s stock worth $67,000 after acquiring an additional 2,110 shares during the last quarter. 53.87% of the stock is owned by institutional investors and hedge funds.

NYSE:WPM traded down $0.17 during midday trading on Friday, reaching $26.28. 1,818,359 shares of the stock traded hands, compared to its average volume of 2,461,050. The company has a fifty day moving average of $26.91 and a 200 day moving average of $25.13. Wheaton Precious Metals Corp has a 12 month low of $15.08 and a 12 month high of $30.90. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.65 and a current ratio of 3.65. The stock has a market capitalization of $12.03 billion, a P/E ratio of 54.75, a PEG ratio of 9.40 and a beta of -0.08.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.10 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.10. Wheaton Precious Metals had a negative net margin of 3.33% and a positive return on equity of 3.35%. The company had revenue of $189.47 million during the quarter, compared to analyst estimates of $194.90 million. During the same period in the prior year, the business posted $0.16 EPS. The firm’s revenue was down 10.8% compared to the same quarter last year. On average, analysts predict that Wheaton Precious Metals Corp will post 0.57 EPS for the current fiscal year.

A number of brokerages have recently weighed in on WPM. TheStreet lowered shares of Wheaton Precious Metals from a “b” rating to a “c+” rating in a report on Friday, August 9th. Zacks Investment Research lowered shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating and set a $29.00 price objective for the company. in a report on Saturday, October 19th. GMP Securities lowered shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. ValuEngine lowered shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Barclays lowered shares of Wheaton Precious Metals from an “overweight” rating to an “equal weight” rating and set a $28.00 price target for the company. in a report on Tuesday, October 15th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $31.82.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp., a mining company, primarily sells precious metals in Canada and internationally. The company sells silver and gold ores. It has agreements for 19 operating mines and 9 development stage projects. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp.

See Also: Front-End Load

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Institutional Ownership by Quarter for Wheaton Precious Metals (NYSE:WPM)

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