Vanguard Group Inc. Raises Stock Position in Wheaton Precious Metals Corp. $WPM

Vanguard Group Inc. increased its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 1.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 18,789,090 shares of the company’s stock after acquiring an additional 234,439 shares during the period. Vanguard Group Inc.’s holdings in Wheaton Precious Metals were worth $2,102,611,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pacifica Partners Inc. boosted its holdings in shares of Wheaton Precious Metals by 27.8% in the 3rd quarter. Pacifica Partners Inc. now owns 460 shares of the company’s stock worth $51,000 after purchasing an additional 100 shares during the period. Miracle Mile Advisors LLC lifted its position in Wheaton Precious Metals by 0.9% in the third quarter. Miracle Mile Advisors LLC now owns 12,872 shares of the company’s stock worth $1,440,000 after buying an additional 110 shares during the last quarter. AE Wealth Management LLC boosted its stake in Wheaton Precious Metals by 2.1% during the third quarter. AE Wealth Management LLC now owns 6,091 shares of the company’s stock worth $681,000 after buying an additional 123 shares during the period. Uncommon Cents Investing LLC increased its position in Wheaton Precious Metals by 1.5% during the third quarter. Uncommon Cents Investing LLC now owns 8,940 shares of the company’s stock valued at $1,000,000 after acquiring an additional 135 shares during the last quarter. Finally, Veracity Capital LLC increased its position in Wheaton Precious Metals by 2.1% during the third quarter. Veracity Capital LLC now owns 7,318 shares of the company’s stock valued at $818,000 after acquiring an additional 149 shares during the last quarter. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Up 0.4%

Shares of NYSE:WPM opened at $145.36 on Friday. The firm has a 50 day moving average of $132.00 and a 200 day moving average of $113.01. The company has a market capitalization of $66.00 billion, a price-to-earnings ratio of 66.07, a price-to-earnings-growth ratio of 1.23 and a beta of 0.52. Wheaton Precious Metals Corp. has a 52 week low of $66.69 and a 52 week high of $160.36.

Wall Street Analysts Forecast Growth

WPM has been the subject of several analyst reports. Royal Bank Of Canada upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $115.00 to $130.00 in a report on Wednesday, December 10th. Wall Street Zen raised shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research note on Sunday, January 18th. Zacks Research upgraded Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 27th. UBS Group reaffirmed a “neutral” rating and set a $158.00 target price on shares of Wheaton Precious Metals in a research note on Friday, January 30th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Wheaton Precious Metals in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $140.44.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.