Wheaton Precious Metals Corp. $WPM Shares Purchased by Legal & General Group Plc

Legal & General Group Plc boosted its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 6.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,202,980 shares of the company’s stock after acquiring an additional 193,292 shares during the period. Legal & General Group Plc’s holdings in Wheaton Precious Metals were worth $358,512,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on WPM shares. Zacks Research cut Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. Weiss Ratings restated a “buy (b)” rating on shares of Wheaton Precious Metals in a research report on Monday, December 29th. Royal Bank Of Canada upgraded 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 research report on Wednesday, December 10th. 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. Finally, Jefferies Financial Group reissued a “buy” rating and set a $145.00 price objective on shares of Wheaton Precious Metals in a research report on Sunday, December 7th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.44.

Wheaton Precious Metals Price Performance

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

Wheaton Precious Metals 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.