Van ECK Associates Corp Has $1.46 Billion Holdings in Wheaton Precious Metals Corp. $WPM

Van ECK Associates Corp trimmed its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 25.7% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,067,785 shares of the company’s stock after selling 4,525,194 shares during the quarter. Wheaton Precious Metals accounts for 1.4% of Van ECK Associates Corp’s holdings, making the stock its 19th biggest position. Van ECK Associates Corp’s holdings in Wheaton Precious Metals were worth $1,461,512,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. TD Waterhouse Canada Inc. increased its position in shares of Wheaton Precious Metals by 9.4% in the third quarter. TD Waterhouse Canada Inc. now owns 809,093 shares of the company’s stock valued at $89,886,000 after acquiring an additional 69,496 shares during the last quarter. J. Safra Sarasin Holding AG increased its holdings in shares of Wheaton Precious Metals by 38.5% in the third quarter. J. Safra Sarasin Holding AG now owns 68,485 shares of the company’s stock valued at $7,659,000 after purchasing an additional 19,050 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in Wheaton Precious Metals during the third quarter worth approximately $11,355,000. West Family Investments Inc. bought a new stake in Wheaton Precious Metals in the 2nd quarter valued at $247,000. Finally, Norges Bank acquired a new position in shares of Wheaton Precious Metals in the second quarter valued at about $656,463,000. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Up 1.0%

Shares of NYSE WPM opened at $148.34 on Tuesday. The company has a market capitalization of $67.35 billion, a PE ratio of 67.43, a PEG ratio of 2.21 and a beta of 0.50. The stock’s 50 day moving average price is $140.64 and its 200-day moving average price is $118.24. Wheaton Precious Metals Corp. has a twelve month low of $68.03 and a twelve month high of $165.76.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WPM. UBS Group reaffirmed a “neutral” rating and set a $158.00 price target on shares of Wheaton Precious Metals in a report on Friday, January 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wheaton Precious Metals in a research note on Monday, December 29th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a report on Wednesday, February 4th. 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. Finally, Zacks Research cut Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Wheaton Precious Metals currently has a consensus rating of “Moderate Buy” and a consensus 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.