Dixon Mitchell Investment Counsel Inc. Has $93.78 Million Holdings in Wheaton Precious Metals Corp. $WPM

Dixon Mitchell Investment Counsel Inc. boosted its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 0.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 838,870 shares of the company’s stock after purchasing an additional 7,883 shares during the quarter. Wheaton Precious Metals comprises about 3.3% of Dixon Mitchell Investment Counsel Inc.’s investment portfolio, making the stock its 11th largest holding. Dixon Mitchell Investment Counsel Inc.’s holdings in Wheaton Precious Metals were worth $93,784,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Wheaton Precious Metals during the second quarter worth about $656,463,000. Bank of Montreal Can raised its position in shares of Wheaton Precious Metals by 26.1% in the 3rd quarter. Bank of Montreal Can now owns 6,455,675 shares of the company’s stock valued at $722,270,000 after acquiring an additional 1,335,588 shares during the period. Invesco Ltd. raised its position 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 acquiring an additional 1,215,660 shares during the period. Capital Research Global Investors boosted its stake in Wheaton Precious Metals by 158.1% during the 3rd quarter. Capital Research Global Investors now owns 1,458,898 shares of the company’s stock worth $163,224,000 after acquiring an additional 893,733 shares during the last quarter. Finally, CIBC Asset Management Inc grew its holdings in Wheaton Precious Metals by 24.8% during the second 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. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Performance

Shares of WPM stock opened at $148.34 on Tuesday. The company has a market capitalization of $67.35 billion, a P/E ratio of 67.43, a price-to-earnings-growth ratio of 2.21 and a beta of 0.50. The company’s 50 day moving average price is $140.64 and its two-hundred day moving average price is $118.24. Wheaton Precious Metals Corp. has a 52 week low of $68.03 and a 52 week high of $165.76.

Analysts Set New Price Targets

Several equities research analysts have commented on WPM shares. Scotiabank reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Wheaton Precious Metals in a research note on Monday, January 26th. Royal Bank Of Canada raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $115.00 to $130.00 in a report on Wednesday, December 10th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Wheaton Precious Metals in a research report on Wednesday, February 4th. UBS Group reaffirmed a “neutral” rating and set a $158.00 price objective on shares of Wheaton Precious Metals in a research note on Friday, January 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Wheaton Precious Metals in a report 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.