LGT Group Foundation Boosts Stake in Wheaton Precious Metals Corp. $WPM

LGT Group Foundation increased its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 21.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 109,718 shares of the company’s stock after buying an additional 19,658 shares during the quarter. LGT Group Foundation’s holdings in Wheaton Precious Metals were worth $12,250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in WPM. Schroder Investment Management Group increased its holdings in shares of Wheaton Precious Metals by 38.7% in the third quarter. Schroder Investment Management Group now owns 8,799 shares of the company’s stock valued at $972,000 after purchasing an additional 2,454 shares during the period. Russell Investments Group Ltd. boosted its position in Wheaton Precious Metals by 19.3% in the third quarter. Russell Investments Group Ltd. now owns 365,208 shares of the company’s stock valued at $40,726,000 after buying an additional 59,153 shares during the last quarter. Riggs Asset Managment Co. Inc. boosted its position in Wheaton Precious Metals by 13.4% in the third quarter. Riggs Asset Managment Co. Inc. now owns 14,140 shares of the company’s stock valued at $1,581,000 after buying an additional 1,673 shares during the last quarter. CreativeOne Wealth LLC increased its holdings in Wheaton Precious Metals by 30.7% in the 3rd quarter. CreativeOne Wealth LLC now owns 4,117 shares of the company’s stock worth $460,000 after buying an additional 968 shares during the period. Finally, Guardian Partners Inc. raised its position in Wheaton Precious Metals by 28.2% during the 3rd quarter. Guardian Partners Inc. now owns 9,800 shares of the company’s stock worth $1,095,000 after buying an additional 2,156 shares during the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on WPM shares. Weiss Ratings restated a “buy (b)” rating on shares of Wheaton Precious Metals in a research note on Monday, December 29th. Zacks Research cut shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Wheaton Precious Metals in a research report on Wednesday, February 4th. Royal Bank Of Canada raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $115.00 to $130.00 in a report on Wednesday, December 10th. Finally, UBS Group reaffirmed a “neutral” rating and set a $158.00 price target on shares of Wheaton Precious Metals in a research report on Friday, January 30th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Wheaton Precious Metals has an average rating of “Moderate Buy” and a consensus target price of $140.44.

Wheaton Precious Metals Trading Down 0.5%

Wheaton Precious Metals stock opened at $147.06 on Monday. The firm has a market cap of $66.77 billion, a PE ratio of 66.85, a P/E/G ratio of 2.21 and a beta of 0.50. Wheaton Precious Metals Corp. has a 12 month low of $68.03 and a 12 month high of $165.76. The stock’s 50 day simple moving average is $140.02 and its two-hundred day simple moving average is $117.86.

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.