Wheaton Precious Metals Corp. $WPM Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC decreased its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 20.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 108,383 shares of the company’s stock after selling 28,188 shares during the period. Intech Investment Management LLC’s holdings in Wheaton Precious Metals were worth $12,131,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in WPM. Norges Bank bought a new stake in Wheaton Precious Metals in the second quarter valued at $656,463,000. Invesco Ltd. increased its holdings 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 worth $187,237,000 after acquiring an additional 1,215,660 shares during the period. CIBC Asset Management Inc increased its holdings 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 worth $288,255,000 after acquiring an additional 632,464 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Wheaton Precious Metals by 30.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,743,476 shares of the company’s stock valued at $246,572,000 after purchasing an additional 632,429 shares during the last quarter. Finally, Geode Capital Management LLC boosted 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 valued at $332,793,000 after purchasing an additional 622,003 shares during the period. 70.34% of the stock is currently owned by institutional investors.

Wheaton Precious Metals Price Performance

WPM opened at $160.99 on Friday. The business has a 50 day moving average price of $136.06 and a two-hundred day moving average price of $115.01. The company has a market capitalization of $73.10 billion, a price-to-earnings ratio of 73.18, a price-to-earnings-growth ratio of 1.31 and a beta of 0.52. Wheaton Precious Metals Corp. has a 1-year low of $66.69 and a 1-year high of $161.50.

Analyst Upgrades and Downgrades

Several brokerages have commented on WPM. Scotiabank restated an “outperform” rating and issued a $175.00 price target on shares of Wheaton Precious Metals in a research note on Monday, January 26th. UBS Group reissued a “neutral” rating and issued a $158.00 price objective on shares of Wheaton Precious Metals in a report on Friday, January 30th. Royal Bank Of Canada upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $115.00 to $130.00 in a research report on Wednesday, December 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wheaton Precious Metals in a research report on Monday, December 29th. Finally, Zacks Research raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Wheaton Precious Metals presently has a consensus rating of “Buy” and an average 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.