Principal Financial Group Inc. Buys 31,236 Shares of Wheaton Precious Metals Corp. $WPM

Principal Financial Group Inc. grew its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 226.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,043 shares of the company’s stock after buying an additional 31,236 shares during the quarter. Principal Financial Group Inc.’s holdings in Wheaton Precious Metals were worth $5,042,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in WPM. AQR Capital Management LLC purchased a new position in shares of Wheaton Precious Metals during the 1st quarter valued at $331,000. Focus Partners Wealth raised its holdings in Wheaton Precious Metals by 10.7% during the first quarter. Focus Partners Wealth now owns 11,223 shares of the company’s stock valued at $871,000 after acquiring an additional 1,081 shares during the period. Acadian Asset Management LLC purchased a new position in shares of Wheaton Precious Metals in the first quarter valued at about $209,000. Sivia Capital Partners LLC purchased a new position in shares of Wheaton Precious Metals in the second quarter valued at about $239,000. Finally, Concurrent Investment Advisors LLC boosted its stake in shares of Wheaton Precious Metals by 14.7% in the second quarter. Concurrent Investment Advisors LLC now owns 4,123 shares of the company’s stock worth $370,000 after acquiring an additional 528 shares during the period. Institutional investors own 70.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WPM. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Wheaton Precious Metals in a research note on Wednesday, February 4th. 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. Royal Bank Of Canada upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $115.00 to $130.00 in a research note on Wednesday, December 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Wheaton Precious Metals in a report on Monday, December 29th. Finally, Scotiabank restated an “outperform” rating and set a $175.00 price objective on shares of Wheaton Precious Metals in a research report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $140.44.

Wheaton Precious Metals Stock Up 4.9%

Shares of NYSE:WPM opened at $145.99 on Monday. The firm has a fifty day simple moving average of $129.32 and a two-hundred day simple moving average of $111.82. Wheaton Precious Metals Corp. has a 52 week low of $66.69 and a 52 week high of $160.36. The stock has a market capitalization of $66.28 billion, a P/E ratio of 66.36, a PEG ratio of 1.25 and a beta of 0.52.

Wheaton Precious Metals 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.