Swiss National Bank Trims Holdings in Wheaton Precious Metals Corp. $WPM

Swiss National Bank decreased its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 5.3% during the third quarter, Holdings Channel.com reports. The fund owned 1,305,800 shares of the company’s stock after selling 73,000 shares during the quarter. Swiss National Bank’s holdings in Wheaton Precious Metals were worth $146,190,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC bought a new position in shares of Wheaton Precious Metals in the third quarter worth approximately $26,000. Delta Asset Management LLC TN purchased a new stake in shares of Wheaton Precious Metals in the second quarter worth $27,000. Root Financial Partners LLC bought a new stake in shares of Wheaton Precious Metals during the 3rd quarter valued at $29,000. Pacifica Partners Inc. raised its position in shares of Wheaton Precious Metals by 27.8% during the 3rd 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 period. Finally, Concord Wealth Partners purchased a new position in shares of Wheaton Precious Metals during the 3rd quarter valued at $61,000. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Analyst Ratings Changes

WPM has been the subject of several recent analyst reports. Zacks Research downgraded shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. UBS Group restated a “neutral” rating and issued a $158.00 price objective on shares of Wheaton Precious Metals in a research report on Friday, January 30th. Scotiabank reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Wheaton Precious Metals in a research note on Monday, January 26th. Royal Bank Of Canada upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $115.00 to $130.00 in a research report on Wednesday, December 10th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Wheaton Precious Metals in a research report on Monday, December 29th. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $140.44.

Wheaton Precious Metals Stock Performance

Shares of NYSE:WPM opened at $148.34 on Tuesday. The firm has a market cap of $67.35 billion, a price-to-earnings ratio of 67.43, a P/E/G ratio of 2.21 and a beta of 0.50. The firm has a fifty day moving average price of $140.64 and a 200 day moving average price of $118.24. Wheaton Precious Metals Corp. has a fifty-two week low of $68.03 and a fifty-two week high of $165.76.

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.