Allianz Asset Management GmbH Sells 1,738 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Allianz Asset Management GmbH lowered its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 509,188 shares of the company’s stock after selling 1,738 shares during the period. Allianz Asset Management GmbH owned approximately 0.11% of Wheaton Precious Metals worth $28,646,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Versant Capital Management Inc acquired a new position in Wheaton Precious Metals during the fourth quarter valued at approximately $29,000. Laurel Wealth Advisors LLC acquired a new position in shares of Wheaton Precious Metals in the 4th quarter valued at $39,000. GAMMA Investing LLC bought a new stake in shares of Wheaton Precious Metals in the 4th quarter valued at $41,000. Kestra Investment Management LLC acquired a new stake in Wheaton Precious Metals during the 4th quarter worth $53,000. Finally, Exchange Traded Concepts LLC bought a new position in Wheaton Precious Metals during the fourth quarter worth about $54,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Price Performance

Shares of NYSE:WPM opened at $68.01 on Monday. The company’s 50-day moving average price is $60.89 and its two-hundred day moving average price is $61.57. Wheaton Precious Metals Corp. has a one year low of $38.57 and a one year high of $70.31. The stock has a market capitalization of $30.85 billion, a PE ratio of 50.75, a price-to-earnings-growth ratio of 1.91 and a beta of 0.77.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on WPM shares. Stifel Canada upgraded 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 research note on Monday, November 18th. They set a “buy” rating and a $78.00 target price for the company. Finally, TD Securities increased their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $71.67.

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.