Wheaton Precious Metals (NYSE:WPM) Shares Gap Up to $32.42

Wheaton Precious Metals Corp (NYSE:WPM)’s share price gapped up before the market opened on Friday . The stock had previously closed at $31.69, but opened at $32.42. Wheaton Precious Metals shares last traded at $32.91, with a volume of 3,144,274 shares traded.

A number of equities research analysts recently issued reports on WPM shares. Royal Bank of Canada reiterated a “buy” rating and set a $33.00 target price on shares of Wheaton Precious Metals in a research report on Sunday, February 9th. TheStreet upgraded shares of Wheaton Precious Metals from a “c+” rating to a “b-” rating in a research report on Friday, November 15th. Raymond James reiterated an “outperform” rating and set a $35.00 target price on shares of Wheaton Precious Metals in a research report on Monday, November 18th. BMO Capital Markets started coverage on shares of Wheaton Precious Metals in a report on Tuesday, November 26th. They set a “buy” rating and a $35.00 price objective on the stock. Finally, Zacks Investment Research lowered shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a report on Thursday, November 28th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Wheaton Precious Metals presently has an average rating of “Buy” and a consensus price target of $32.00.

The company has a market cap of $14.52 billion, a P/E ratio of 822.96, a price-to-earnings-growth ratio of 7.15 and a beta of -0.03. The company has a current ratio of 4.67, a quick ratio of 4.67 and a debt-to-equity ratio of 0.20. The firm’s 50 day moving average price is $29.16 and its 200-day moving average price is $27.96.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Van ECK Associates Corp boosted its stake in shares of Wheaton Precious Metals by 2.5% in the 4th quarter. Van ECK Associates Corp now owns 23,463,998 shares of the company’s stock valued at $698,054,000 after purchasing an additional 574,194 shares during the last quarter. FMR LLC boosted its stake in shares of Wheaton Precious Metals by 18.7% in the 4th quarter. FMR LLC now owns 8,475,425 shares of the company’s stock valued at $252,194,000 after purchasing an additional 1,335,971 shares during the last quarter. Investec Asset Management LTD boosted its stake in shares of Wheaton Precious Metals by 12.6% in the 4th quarter. Investec Asset Management LTD now owns 4,176,039 shares of the company’s stock valued at $124,237,000 after purchasing an additional 467,698 shares during the last quarter. Tocqueville Asset Management L.P. boosted its stake in shares of Wheaton Precious Metals by 10.6% in the 3rd quarter. Tocqueville Asset Management L.P. now owns 3,531,915 shares of the company’s stock valued at $92,677,000 after purchasing an additional 339,600 shares during the last quarter. Finally, CIBC World Markets Inc. boosted its stake in shares of Wheaton Precious Metals by 2.4% in the 4th quarter. CIBC World Markets Inc. now owns 3,001,758 shares of the company’s stock valued at $89,302,000 after purchasing an additional 70,923 shares during the last quarter. 53.75% of the stock is currently owned by institutional investors.

About Wheaton Precious Metals (NYSE:WPM)

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.

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