Capital Wealth Planning LLC Acquires 13,132 Shares of Wheaton Precious Metals Corp.

In the fourth quarter, Capital Wealth Planning LLC made a significant investment by acquiring a new stake in Wheaton Precious Metals Corp. (NYSE:WPM). According to their latest disclosure to the Securities and Exchange Commission, the firm purchased 13,132 shares of Wheaton's stock, totaling an approximate value of $739,000.

Institutional Investment Trends

Additionally, other institutional investors have also engaged in buying and selling shares of Wheaton Precious Metals. For instance, Metis Global Partners LLC increased its holdings in Wheaton by 5.5% during the fourth quarter, now possessing 58,079 shares valued at $3,269,000 after acquiring an additional 3,029 shares. US Bancorp DE expanded its stake by 35.0%, resulting in ownership of 9,673 shares worth $544,000 following a purchase of 2,506 shares. Similarly, Fielder Capital Group LLC raised its position by 0.7%, owning 24,701 shares valued at $1,389,000 after acquiring 176 additional shares.

A notable increase came from Proficio Capital Partners LLC, which raised its holdings by a staggering 5,754.4%. They now own 485,914 shares valued at $27,328,000, thanks to an additional purchase of 477,614 shares. Mn Services Vermogensbeheer B.V. also reported a 1.7% increase in their holdings, owning 176,630 shares valued at $9,937,000 after buying 2,900 shares in the last quarter. Collectively, institutional investors currently own 70.34% of the company's stock.

Analysts and Market Insights

Wheaton Precious Metals has been featured in several recent analyst reports. Stifel Canada upgraded the stock from a "hold" rating to a "strong-buy" rating on February 4. Meanwhile, UBS Group initiated coverage on Wheaton, issuing a "buy" rating along with a price target of $78.00. Additionally, TD Securities raised their price target from $74.00 to $75.00, keeping a "buy" rating on the stock. Currently, nine analysts have assigned a buy rating, with one analyst giving it a strong buy rating. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $71.67.

Stock Performance Overview

Shares of Wheaton Precious Metals opened at $69.07. The company has a market capitalization of $31.34 billion and a price-to-earnings ratio of 51.55, with a price-to-earnings-growth ratio of 1.91 and a beta of 0.77. The fifty-day moving average for the stock is $61.97, and the two-hundred-day moving average is also $61.97. Over the past year, Wheaton's stock hit a low of $40.50 and a high of $70.80.

About Wheaton Precious Metals Corp.

Wheaton Precious Metals Corp. focuses on selling precious metals primarily across North America, Europe, and South America. The company produces and sells gold, silver, palladium, and cobalt. Wheaton was previously known as Silver Wheaton Corp., and it rebranded to its current name in May 2017.

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