Barings LLC Increases Stock Position in Wheaton Precious Metals Corp. $WPM

Barings LLC increased its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 1.8% during the 3rd quarter, Holdings Channel reports. The firm owned 446,693 shares of the company’s stock after purchasing an additional 7,917 shares during the quarter. Wheaton Precious Metals makes up approximately 0.9% of Barings LLC’s holdings, making the stock its 15th largest holding. Barings LLC’s holdings in Wheaton Precious Metals were worth $49,977,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Pacifica Partners Inc. lifted its position in shares of Wheaton Precious Metals by 27.8% during the 3rd quarter. Pacifica Partners Inc. now owns 460 shares of the company’s stock worth $51,000 after buying an additional 100 shares in the last quarter. Miracle Mile Advisors LLC increased 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 acquiring an additional 110 shares during the last quarter. AE Wealth Management LLC lifted its holdings in Wheaton Precious Metals by 2.1% during the third quarter. AE Wealth Management LLC now owns 6,091 shares of the company’s stock worth $681,000 after acquiring an additional 123 shares during the period. Uncommon Cents Investing LLC boosted its position in 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 boosted its position in 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 purchasing an additional 149 shares during the last quarter. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Price Performance

Shares of WPM stock opened at $150.25 on Friday. The company’s fifty day simple moving average is $132.65 and its two-hundred day simple moving average is $113.38. Wheaton Precious Metals Corp. has a 1 year low of $66.69 and a 1 year high of $160.36. The stock has a market capitalization of $68.22 billion, a price-to-earnings ratio of 68.30, a PEG ratio of 1.21 and a beta of 0.52.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research note on Wednesday, February 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wheaton Precious Metals in a research note on Monday, December 29th. Jefferies Financial Group reissued a “buy” rating and set a $145.00 target price on shares of Wheaton Precious Metals in a research report on Sunday, December 7th. Royal Bank Of Canada raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $115.00 to $130.00 in a report on Wednesday, December 10th. Finally, Wall Street Zen raised Wheaton Precious Metals from a “hold” rating to a “buy” rating in a report on Sunday, January 18th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $140.44.

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.