Moors & Cabot Inc. Has $2.54 Million Stock Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Moors & Cabot Inc. cut its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 3.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 45,217 shares of the company’s stock after selling 1,775 shares during the quarter. Moors & Cabot Inc.’s holdings in Wheaton Precious Metals were worth $2,543,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc acquired a new stake in Wheaton Precious Metals during the fourth quarter worth about $29,000. Promus Capital LLC acquired a new stake in Wheaton Precious Metals during the fourth quarter worth about $32,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Wheaton Precious Metals during the fourth quarter worth about $38,000. Laurel Wealth Advisors LLC acquired a new stake in Wheaton Precious Metals during the fourth quarter worth about $39,000. Finally, Quintet Private Bank Europe S.A. acquired a new stake in Wheaton Precious Metals during the fourth quarter valued at approximately $39,000. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Trading Up 0.4 %

NYSE:WPM opened at $71.33 on Thursday. Wheaton Precious Metals Corp. has a 1 year low of $43.18 and a 1 year high of $72.00. The firm has a 50 day moving average of $63.80 and a 200-day moving average of $62.47. The stock has a market capitalization of $32.36 billion, a P/E ratio of 53.23, a price-to-earnings-growth ratio of 1.91 and a beta of 0.77.

Analyst Upgrades and Downgrades

WPM has been the topic of a number of recent research reports. Stifel Canada raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. UBS Group initiated coverage on Wheaton Precious Metals in a report on Monday, November 18th. They set a “buy” rating and a $78.00 price objective on the stock. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $71.67.

Wheaton Precious Metals Company 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.