Wheaton Precious Metals (NYSE:WPM) Cut to "Sector Perform" at National Bank Financial

Wheaton Precious Metals (NYSE:WPM - Get Free Report) was downgraded by equities researchers at National Bank Financial from an "outperform" rating to a "sector perform" rating in a note issued to investors on Wednesday, Briefing.com reports.

WPM has been the subject of a number of other reports. BMO Capital Markets decreased their target price on Wheaton Precious Metals from $58.00 to $57.00 and set an "outperform" rating for the company in a research report on Friday, November 10th. Raymond James increased their price target on shares of Wheaton Precious Metals from $57.00 to $60.00 and gave the stock an "outperform" rating in a report on Friday, January 12th. TD Securities downgraded Wheaton Precious Metals from a "buy" rating to a "hold" rating in a report on Wednesday. TheStreet cut Wheaton Precious Metals from a "b-" rating to a "c+" rating in a report on Friday, November 10th. Finally, CIBC raised their target price on shares of Wheaton Precious Metals from $66.00 to $70.00 and gave the company an "outperform" rating in a report on Wednesday, February 7th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $62.73.

Wheaton Precious Metals Stock Down 9.0 %

WPM traded down $3.98 on Wednesday, reaching $40.24. The company's stock had a trading volume of 2,206,765 shares, compared to its average volume of 1,707,147. The stock has a 50 day moving average of $47.39 and a two-hundred day moving average of $44.96. Wheaton Precious Metals has a fifty-two week low of $38.37 and a fifty-two week high of $52.76. The company has a market capitalization of $18.23 billion, a price-to-earnings ratio of 33.75, a P/E/G ratio of 8.84 and a beta of 0.80.

Institutional Investors Weigh In On Wheaton Precious Metals

A number of large investors have recently made changes to their positions in WPM. Mirae Asset Global Investments Co. Ltd. increased its stake in Wheaton Precious Metals by 6.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,344,956 shares of the company's stock valued at $301,893,000 after buying an additional 361,138 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Wheaton Precious Metals by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 481,497 shares of the company's stock worth $22,909,000 after acquiring an additional 4,497 shares during the last quarter. US Bancorp DE raised its holdings in shares of Wheaton Precious Metals by 4.9% during the first quarter. US Bancorp DE now owns 11,778 shares of the company's stock worth $561,000 after acquiring an additional 551 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Wheaton Precious Metals by 21.3% during the first quarter. PNC Financial Services Group Inc. now owns 20,122 shares of the company's stock valued at $957,000 after purchasing an additional 3,535 shares during the last quarter. Finally, BlackRock Inc. grew its stake in Wheaton Precious Metals by 245.5% in the first quarter. BlackRock Inc. now owns 2,530,486 shares of the company's stock valued at $120,401,000 after purchasing an additional 1,798,086 shares in the last quarter. Institutional investors and hedge funds own 58.51% of the company's stock.

About Wheaton Precious Metals

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 10, 2017. Wheaton Precious Metals Corp.

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