Capital Research Global Investors Buys 893,733 Shares of Wheaton Precious Metals Corp. $WPM

Capital Research Global Investors grew its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 158.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,458,898 shares of the company’s stock after acquiring an additional 893,733 shares during the period. Capital Research Global Investors’ holdings in Wheaton Precious Metals were worth $163,224,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nisa Investment Advisors LLC bought a new position in shares of Wheaton Precious Metals in the third quarter valued at approximately $26,000. Delta Asset Management LLC TN bought a new stake in Wheaton Precious Metals during the 2nd quarter worth approximately $27,000. Root Financial Partners LLC bought a new stake in Wheaton Precious Metals during the 3rd quarter worth approximately $29,000. Pacifica Partners Inc. lifted its stake in 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 in the last quarter. Finally, Concord Wealth Partners purchased a new stake in Wheaton Precious Metals in the 3rd quarter worth approximately $61,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on WPM shares. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Wheaton Precious Metals in a research report on Wednesday, February 4th. Zacks Research downgraded Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. UBS Group reissued a “neutral” rating and set a $158.00 price objective on shares of Wheaton Precious Metals in a research note on Friday, January 30th. Wall Street Zen upgraded Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research report on Sunday, January 18th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Wheaton Precious Metals in a research note on Monday, December 29th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $140.44.

Wheaton Precious Metals Trading Down 1.4%

Shares of NYSE WPM opened at $148.68 on Thursday. The stock has a market cap of $67.51 billion, a price-to-earnings ratio of 67.58, a P/E/G ratio of 2.26 and a beta of 0.50. Wheaton Precious Metals Corp. has a 1-year low of $68.03 and a 1-year high of $165.76. The stock’s 50-day moving average is $141.91 and its 200 day moving average is $118.84.

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.