Wheaton Precious Metals Corp. $WPM Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. boosted its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 19.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 365,208 shares of the company’s stock after acquiring an additional 59,153 shares during the period. Russell Investments Group Ltd. owned about 0.08% of Wheaton Precious Metals worth $40,726,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of WPM. Norges Bank purchased a new position in shares of Wheaton Precious Metals during the second quarter worth about $656,463,000. Invesco Ltd. boosted 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 purchasing an additional 1,215,660 shares during the period. CIBC Asset Management Inc boosted its position in shares of Wheaton Precious Metals by 24.8% in the 2nd 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. Arrowstreet Capital Limited Partnership grew its stake in Wheaton Precious Metals by 30.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,743,476 shares of the company’s stock worth $246,572,000 after buying an additional 632,429 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Wheaton Precious Metals by 20.5% during the 2nd quarter. Geode Capital Management LLC now owns 3,653,717 shares of the company’s stock worth $332,793,000 after buying an additional 622,003 shares during the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Down 1.4%

WPM opened at $148.68 on Thursday. Wheaton Precious Metals Corp. has a 52 week low of $68.03 and a 52 week high of $165.76. The business has a 50 day moving average price of $141.91 and a two-hundred day moving average price of $118.84. The company has a market cap of $67.51 billion, a PE ratio of 67.58, a P/E/G ratio of 2.26 and a beta of 0.50.

Analyst Upgrades and Downgrades

Several research analysts have commented on WPM shares. UBS Group reaffirmed a “neutral” rating and set a $158.00 price target on shares of Wheaton Precious Metals in a research report on Friday, January 30th. Scotiabank restated 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 cut shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. Royal Bank Of Canada upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $115.00 to $130.00 in a research report on Wednesday, December 10th. Finally, Wall Street Zen upgraded shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research note on Sunday, January 18th. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.