Silver Wheaton Corp (NYSE:WPM) Downgraded by Zacks Investment Research

Silver Wheaton Corp (NYSE:WPM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday.

According to Zacks, “Wheaton Precious Metals Corp. operates as a silver and gold streaming company. Wheaton Precious Metals Corp, formerly known as Silver Wheaton Corp, is headquartered in Vancouver, Canada. “

A number of other research firms have also recently commented on WPM. Deutsche Bank AG reissued a “hold” rating and issued a $29.00 price target (down from $31.00) on shares of Silver Wheaton Corp in a report on Sunday, June 25th. Royal Bank Of Canada set a $27.00 price objective on Silver Wheaton Corp and gave the stock a “buy” rating in a report on Monday, June 19th. Finally, Raymond James Financial, Inc. reaffirmed an “outperform” rating and set a $27.00 price objective on shares of Silver Wheaton Corp in a report on Sunday, June 18th.

Shares of Silver Wheaton Corp (WPM) traded up 1.51% during midday trading on Friday, reaching $19.48. 883,345 shares of the company were exchanged. The stock has a market capitalization of $8.61 billion, a P/E ratio of 39.84 and a beta of 0.40. The company has a 50 day moving average price of $20.31 and a 200-day moving average price of $20.37. Silver Wheaton Corp has a 12-month low of $16.94 and a 12-month high of $31.35.

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An institutional investor recently bought a new position in Silver Wheaton Corp stock. Integrated Investment Consultants LLC acquired a new stake in shares of Silver Wheaton Corp (NYSE:WPM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 8,000 shares of the company’s stock, valued at approximately $159,000. Institutional investors and hedge funds own 50.61% of the company’s stock.

Silver Wheaton Corp Company Profile

Wheaton Precious Metals Corp, formerly Silver Wheaton Corp, is a Canada-based pure precious metals streaming company engaged in the sale of silver and gold. The Company operates through eight segments: the silver produced by the San Dimas, Penasquito and Antamina mines, the gold produced by the Sudbury and Salobo mines, the silver and gold produced by the Constancia mine and the Other mines, and corporate operations.

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