Swiss National Bank Lowers Holdings in Wheaton Precious Metals Corp. $WPM

Swiss National Bank trimmed its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 5.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,305,800 shares of the company’s stock after selling 73,000 shares during the quarter. Swiss National Bank owned 0.29% of Wheaton Precious Metals worth $146,190,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of WPM. Pacifica Partners Inc. raised its position 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 last quarter. Miracle Mile Advisors LLC grew its position in Wheaton Precious Metals by 0.9% during the 3rd quarter. Miracle Mile Advisors LLC now owns 12,872 shares of the company’s stock valued at $1,440,000 after purchasing an additional 110 shares during the last quarter. AE Wealth Management LLC increased its stake in Wheaton Precious Metals by 2.1% during the 3rd quarter. AE Wealth Management LLC now owns 6,091 shares of the company’s stock valued at $681,000 after purchasing an additional 123 shares in the last quarter. Uncommon Cents Investing LLC increased its stake in Wheaton Precious Metals by 1.5% during the 3rd quarter. Uncommon Cents Investing LLC now owns 8,940 shares of the company’s stock valued at $1,000,000 after purchasing an additional 135 shares in the last quarter. Finally, Bradley Foster & Sargent Inc. CT raised its holdings in Wheaton Precious Metals by 0.3% in the third quarter. Bradley Foster & Sargent Inc. CT now owns 50,492 shares of the company’s stock worth $5,647,000 after buying an additional 143 shares during the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Performance

Shares of Wheaton Precious Metals stock opened at $148.34 on Tuesday. The stock has a market cap of $67.35 billion, a P/E ratio of 67.43, a P/E/G ratio of 2.21 and a beta of 0.50. The stock’s fifty day moving average is $140.64 and its 200 day moving average is $118.24. Wheaton Precious Metals Corp. has a one year low of $68.03 and a one year high of $165.76.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WPM. Wall Street Zen upgraded shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research note on Sunday, January 18th. Zacks Research lowered shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a research report on Wednesday, February 4th. Royal Bank Of Canada upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $115.00 to $130.00 in a research note on Wednesday, December 10th. Finally, Scotiabank reissued an “outperform” rating and issued a $175.00 target price on shares of Wheaton Precious Metals in a report on Monday, January 26th. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.