Capital International Investors Reduces Position in Wheaton Precious Metals Corp. $WPM

Capital International Investors trimmed its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 0.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 7,502,126 shares of the company’s stock after selling 47,480 shares during the period. Capital International Investors’ holdings in Wheaton Precious Metals were worth $839,038,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Nisa Investment Advisors LLC purchased a new stake in shares of Wheaton Precious Metals during the 3rd quarter valued at about $26,000. Root Financial Partners LLC bought a new stake in shares of Wheaton Precious Metals in the third quarter worth approximately $29,000. Delta Asset Management LLC TN purchased a new position in shares of Wheaton Precious Metals during the second quarter valued at approximately $27,000. Pacifica Partners Inc. raised its holdings in shares of Wheaton Precious Metals by 27.8% during the third quarter. Pacifica Partners Inc. now owns 460 shares of the company’s stock valued at $51,000 after purchasing an additional 100 shares during the last quarter. Finally, Concord Wealth Partners bought a new position in Wheaton Precious Metals during the third quarter valued at approximately $61,000. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Trading Up 1.8%

Shares of NYSE WPM opened at $150.67 on Wednesday. Wheaton Precious Metals Corp. has a 12-month low of $68.03 and a 12-month high of $165.76. The firm has a market capitalization of $68.41 billion, a price-to-earnings ratio of 68.49, a price-to-earnings-growth ratio of 2.21 and a beta of 0.50. The firm has a 50 day moving average of $141.28 and a 200 day moving average of $118.63.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on WPM shares. Wall Street Zen upgraded shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a report on Sunday, January 18th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Wheaton Precious Metals in a report on Wednesday, February 4th. Jefferies Financial Group restated a “buy” rating and issued a $145.00 price target on shares of Wheaton Precious Metals in a research note on Sunday, December 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wheaton Precious Metals in a report on Monday, December 29th. Finally, Scotiabank reiterated an “outperform” rating and set a $175.00 price objective on shares of Wheaton Precious Metals in a research report on Monday, January 26th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $140.44.

Wheaton Precious Metals Company 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.