Public Sector Pension Investment Board Increases Stake in Wheaton Precious Metals Corp. $WPM

Public Sector Pension Investment Board lifted its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 77.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 77,920 shares of the company’s stock after buying an additional 34,100 shares during the quarter. Public Sector Pension Investment Board’s holdings in Wheaton Precious Metals were worth $8,722,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pacifica Partners Inc. increased its holdings in Wheaton Precious Metals by 27.8% in the 3rd quarter. Pacifica Partners Inc. now owns 460 shares of the company’s stock valued at $51,000 after acquiring an additional 100 shares during the last quarter. Miracle Mile Advisors LLC grew its position in shares of Wheaton Precious Metals by 0.9% during the third 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 in the last quarter. AE Wealth Management LLC grew its position in shares of Wheaton Precious Metals by 2.1% during the third 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 holdings in shares of Wheaton Precious Metals by 1.5% in the third quarter. Uncommon Cents Investing LLC now owns 8,940 shares of the company’s stock worth $1,000,000 after purchasing an additional 135 shares during the last quarter. Finally, Veracity Capital LLC lifted its position in shares of Wheaton Precious Metals by 2.1% in the third quarter. Veracity Capital LLC now owns 7,318 shares of the company’s stock worth $818,000 after buying an additional 149 shares in the last quarter. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Performance

NYSE:WPM opened at $145.99 on Tuesday. The firm has a market capitalization of $66.28 billion, a PE ratio of 66.36, a PEG ratio of 1.25 and a beta of 0.52. The stock’s fifty day moving average is $130.14 and its 200 day moving average is $112.20. Wheaton Precious Metals Corp. has a fifty-two week low of $66.69 and a fifty-two week high of $160.36.

Analyst Ratings Changes

WPM has been the subject of a number of research reports. UBS Group restated a “neutral” rating and set a $158.00 price target on shares of Wheaton Precious Metals in a report on Friday, January 30th. Scotiabank reiterated an “outperform” rating and set a $175.00 target price on shares of Wheaton Precious Metals in a research report on Monday, January 26th. Zacks Research upgraded shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wheaton Precious Metals in a research note on Monday, December 29th. Finally, Wall Street Zen raised shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research note on Sunday, January 18th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $140.44.

About Wheaton Precious Metals

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.