Wheaton Precious Metals Corp. $WPM Shares Sold by Picton Mahoney Asset Management

Picton Mahoney Asset Management decreased its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 3.8% in the third quarter, HoldingsChannel.com reports. The fund owned 461,195 shares of the company’s stock after selling 18,371 shares during the period. Picton Mahoney Asset Management’s holdings in Wheaton Precious Metals were worth $51,599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Wheaton Precious Metals during the second quarter worth about $656,463,000. Invesco Ltd. raised its position in Wheaton Precious Metals by 139.8% during the 2nd quarter. Invesco Ltd. now owns 2,085,042 shares of the company’s stock worth $187,237,000 after buying an additional 1,215,660 shares during the last quarter. CIBC Asset Management Inc raised its position in Wheaton Precious Metals by 24.8% during the 2nd quarter. CIBC Asset Management Inc now owns 3,185,420 shares of the company’s stock worth $288,255,000 after buying an additional 632,464 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Wheaton Precious Metals by 30.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,743,476 shares of the company’s stock valued at $246,572,000 after acquiring an additional 632,429 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Wheaton Precious Metals by 20.5% in the 2nd quarter. Geode Capital Management LLC now owns 3,653,717 shares of the company’s stock valued at $332,793,000 after acquiring an additional 622,003 shares during the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on WPM shares. UBS Group reissued a “neutral” rating and set a $158.00 target price on shares of Wheaton Precious Metals in a report on Friday, January 30th. Wall Street Zen raised Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research report on Sunday, January 18th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Wheaton Precious Metals in a report on Wednesday, February 4th. Scotiabank reaffirmed an “outperform” rating and set a $175.00 target price on shares of Wheaton Precious Metals in a report on Monday, January 26th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $145.00 price target on shares of Wheaton Precious Metals in a report on Sunday, December 7th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $140.44.

Wheaton Precious Metals Stock Down 8.5%

NYSE:WPM opened at $151.60 on Wednesday. Wheaton Precious Metals Corp. has a 52 week low of $68.03 and a 52 week high of $165.76. The stock has a market capitalization of $68.83 billion, a PE ratio of 68.91, a price-to-earnings-growth ratio of 2.50 and a beta of 0.50. The stock’s 50-day moving average price is $138.39 and its 200-day moving average price is $116.66.

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.