Hsbc Holdings PLC Buys 17,337 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Posted by Defense World Staff on Feb 26th, 2023

Hsbc Holdings PLC raised its holdings in Wheaton Precious Metals Corp. (NYSE:WPM – Get Rating) by 14.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 139,720 shares of the company’s stock after acquiring an additional 17,337 shares during the period. Hsbc Holdings PLC’s holdings in Wheaton Precious Metals were worth $4,540,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Van ECK Associates Corp raised its holdings in shares of Wheaton Precious Metals by 1.5% in the 3rd quarter. Van ECK Associates Corp now owns 19,080,354 shares of the company’s stock valued at $617,438,000 after acquiring an additional 273,480 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Wheaton Precious Metals by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 14,469,870 shares of the company’s stock valued at $688,475,000 after buying an additional 303,774 shares in the last quarter. FMR LLC raised its holdings in shares of Wheaton Precious Metals by 5.3% during the 2nd quarter. FMR LLC now owns 14,161,430 shares of the company’s stock valued at $510,260,000 after buying an additional 707,233 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Wheaton Precious Metals by 7.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,766,392 shares of the company’s stock valued at $218,960,000 after buying an additional 453,622 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Wheaton Precious Metals by 6.0% during 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 in the last quarter. Hedge funds and other institutional investors own 57.01% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on WPM. TD Securities decreased their price objective on Wheaton Precious Metals from $47.00 to $46.00 and set a “buy” rating on the stock in a report on Tuesday, November 8th. Raymond James decreased their price objective on Wheaton Precious Metals from C$52.00 to C$51.00 and set an “outperform” rating on the stock in a report on Wednesday. Barclays raised their price objective on Wheaton Precious Metals from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Monday, January 30th. National Bank Financial decreased their price target on Wheaton Precious Metals from C$70.00 to C$68.00 in a research note on Tuesday, February 14th. Finally, TheStreet raised Wheaton Precious Metals from a “c+” rating to a “b-” rating in a research note on Tuesday, November 22nd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.71.

Wheaton Precious Metals Price Performance

Shares of Wheaton Precious Metals stock opened at $40.47 on Friday. The stock has a market capitalization of $18.29 billion, a P/E ratio of 22.99, a price-to-earnings-growth ratio of 6.75 and a beta of 0.56. Wheaton Precious Metals Corp. has a one year low of $28.62 and a one year high of $51.90. The business’s 50 day simple moving average is $42.76 and its two-hundred day simple moving average is $37.15.

About Wheaton Precious Metals

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Wheaton Precious Metals Corp. is a mining company engages in the sale of precious metals and cobalt production. It operates through the following segments: Gold, Silver, Palladium, Cobalt, and Other. It focuses on the following precious metals streams: Salobo, Penasquito, Antamina, Constancia, Stillwater, San Dimas, Sudhury, Zinkgruvan, Yauliyacu, Neves-Corvo, Pascua-Lama, Rosemont, Voisey’s Bay, and others.