Public Sector Pension Investment Board Acquires 34,100 Shares of Wheaton Precious Metals Corp. $WPM

Public Sector Pension Investment Board raised its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 77.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 77,920 shares of the company’s stock after purchasing an additional 34,100 shares during the period. Public Sector Pension Investment Board’s holdings in Wheaton Precious Metals were worth $8,722,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Wheaton Precious Metals by 3.1% during the second quarter. Vanguard Group Inc. now owns 18,554,651 shares of the company’s stock valued at $1,668,582,000 after purchasing an additional 557,793 shares in the last quarter. Norges Bank purchased a new position in Wheaton Precious Metals in the 2nd quarter worth about $656,463,000. Bank of Montreal Can lifted its stake in Wheaton Precious Metals by 10.3% during the 2nd quarter. Bank of Montreal Can now owns 5,120,087 shares of the company’s stock valued at $460,736,000 after acquiring an additional 478,236 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Wheaton Precious Metals by 0.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,107,833 shares of the company’s stock valued at $458,683,000 after acquiring an additional 35,047 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of Wheaton Precious Metals by 12.8% during the 2nd quarter. Bank of America Corp DE now owns 4,481,459 shares of the company’s stock valued at $402,435,000 after acquiring an additional 507,577 shares during the last quarter. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Price Performance

NYSE:WPM opened at $145.99 on Tuesday. Wheaton Precious Metals Corp. has a one year low of $66.69 and a one year high of $160.36. The business has a fifty day moving average price of $130.14 and a 200-day moving average price of $112.20. The firm has a market capitalization of $66.28 billion, a price-to-earnings ratio of 66.36, a price-to-earnings-growth ratio of 1.25 and a beta of 0.52.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a report on Sunday, January 18th. UBS Group reaffirmed a “neutral” rating and issued a $158.00 target price on shares of Wheaton Precious Metals in a research report on Friday, January 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wheaton Precious Metals in a research note on Monday, December 29th. Zacks Research raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 27th. Finally, Scotiabank restated an “outperform” rating and issued a $175.00 price target on shares of Wheaton Precious Metals in a research note 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 given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $140.44.

About Wheaton Precious Metals

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.