Principal Financial Group Inc. Purchases 31,236 Shares of Wheaton Precious Metals Corp. $WPM

Principal Financial Group Inc. raised its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 226.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 45,043 shares of the company’s stock after purchasing an additional 31,236 shares during the quarter. Principal Financial Group Inc.’s holdings in Wheaton Precious Metals were worth $5,042,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of WPM. TD Waterhouse Canada Inc. lifted its position in shares of Wheaton Precious Metals by 9.4% during the third quarter. TD Waterhouse Canada Inc. now owns 809,093 shares of the company’s stock valued at $89,886,000 after buying an additional 69,496 shares during the last quarter. J. Safra Sarasin Holding AG grew its position in shares of Wheaton Precious Metals by 38.5% in the 3rd quarter. J. Safra Sarasin Holding AG now owns 68,485 shares of the company’s stock worth $7,659,000 after buying an additional 19,050 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of Wheaton Precious Metals during the 3rd quarter worth approximately $11,355,000. West Family Investments Inc. bought a new position in shares of Wheaton Precious Metals during the 2nd quarter worth approximately $247,000. Finally, Norges Bank purchased a new stake in Wheaton Precious Metals during the second quarter valued at approximately $656,463,000. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Up 4.9%

Shares of WPM opened at $145.99 on Monday. The company has a market capitalization of $66.28 billion, a price-to-earnings ratio of 66.36, a PEG ratio of 1.25 and a beta of 0.52. Wheaton Precious Metals Corp. has a 52 week low of $66.69 and a 52 week high of $160.36. The stock’s 50-day moving average price is $129.32 and its 200-day moving average price is $111.82.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Scotiabank reaffirmed an “outperform” rating and issued a $175.00 price target on shares of Wheaton Precious Metals in a report on Monday, January 26th. Zacks Research raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 27th. UBS Group reiterated a “neutral” rating and issued a $158.00 price target on shares of Wheaton Precious Metals in a research note on Friday, January 30th. Jefferies Financial Group reissued a “buy” rating and issued a $145.00 price target on shares of Wheaton Precious Metals in a report on Sunday, December 7th. Finally, Wall Street Zen upgraded shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a report on Sunday, January 18th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Wheaton Precious Metals currently has a consensus rating of “Buy” and a consensus target price 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.