Silver Wheaton Corp (NYSE:WPM) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research cut shares of Silver Wheaton Corp (NYSE:WPM) from a hold rating to a sell rating in a research note published 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. “

Other research analysts also recently issued research reports about the stock. Royal Bank Of Canada set a $27.00 target price on shares of Silver Wheaton Corp and gave the company a buy rating in a research report on Monday, June 19th. Deutsche Bank AG reaffirmed a hold rating and issued a $29.00 target price (down previously from $31.00) on shares of Silver Wheaton Corp in a research report on Sunday, June 25th. Finally, Raymond James Financial, Inc. reaffirmed an outperform rating and issued a $27.00 target price on shares of Silver Wheaton Corp in a research report on Sunday, June 18th.

Silver Wheaton Corp (WPM) traded up 0.57% during midday trading on Friday, hitting $19.57. 1,935,072 shares of the company traded hands. Silver Wheaton Corp has a 12-month low of $16.94 and a 12-month high of $31.35. The stock’s 50-day moving average is $20.31 and its 200-day moving average is $20.37. The firm has a market capitalization of $8.65 billion, a PE ratio of 40.02 and a beta of 0.40.

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A hedge fund recently bought a new stake in Silver Wheaton Corp stock. Integrated Investment Consultants LLC bought a new position in shares of Silver Wheaton Corp (NYSE:WPM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,000 shares of the company’s stock, valued at approximately $159,000. 50.44% of the stock is owned by institutional investors.

About Silver Wheaton Corp

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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