TD Asset Management Inc Acquires 244,027 Shares of Wheaton Precious Metals Corp. $WPM

TD Asset Management Inc lifted its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 3.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 7,252,054 shares of the company’s stock after acquiring an additional 244,027 shares during the quarter. TD Asset Management Inc’s holdings in Wheaton Precious Metals were worth $811,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of WPM. Nisa Investment Advisors LLC purchased a new position in shares of Wheaton Precious Metals during the third quarter valued at approximately $26,000. Delta Asset Management LLC TN bought a new stake in Wheaton Precious Metals in the 2nd quarter worth approximately $27,000. Root Financial Partners LLC purchased a new stake in Wheaton Precious Metals during the 3rd quarter valued at $29,000. Pacifica Partners Inc. raised its stake in 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 buying an additional 100 shares during the last quarter. Finally, Concord Wealth Partners bought 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

Several analysts recently commented on WPM shares. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a report on Wednesday, February 4th. UBS Group reissued a “neutral” rating and issued a $158.00 target price on shares of Wheaton Precious Metals in a research report on Friday, January 30th. Jefferies Financial Group reaffirmed a “buy” rating and set a $145.00 price target on shares of Wheaton Precious Metals in a research report on Sunday, December 7th. Scotiabank reiterated an “outperform” rating and issued a $175.00 price objective on shares of Wheaton Precious Metals in a research note on Monday, January 26th. Finally, Zacks Research raised shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 27th. One equities research 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. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $140.44.

Wheaton Precious Metals Stock Up 1.1%

Shares of WPM opened at $157.59 on Wednesday. The business has a 50-day simple moving average of $134.30 and a two-hundred day simple moving average of $114.39. The stock has a market cap of $71.55 billion, a price-to-earnings ratio of 71.63, a PEG ratio of 1.29 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.

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.