Mufg Securities Canada LTD. Has $84.05 Million Stock Position in Wheaton Precious Metals Corp. $WPM

Mufg Securities Canada LTD. cut its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 2.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 751,177 shares of the company’s stock after selling 18,200 shares during the period. Wheaton Precious Metals makes up 2.3% of Mufg Securities Canada LTD.’s investment portfolio, making the stock its 16th biggest holding. Mufg Securities Canada LTD.’s holdings in Wheaton Precious Metals were worth $84,051,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC acquired a new stake in shares of Wheaton Precious Metals in the third quarter worth about $26,000. Root Financial Partners LLC acquired a new position in shares of Wheaton Precious Metals during the 3rd quarter valued at about $29,000. Delta Asset Management LLC TN bought a new position in shares of Wheaton Precious Metals in the 2nd quarter valued at approximately $27,000. Pacifica Partners Inc. lifted its holdings in Wheaton Precious Metals by 27.8% in the 3rd quarter. Pacifica Partners Inc. now owns 460 shares of the company’s stock worth $51,000 after purchasing an additional 100 shares during the last quarter. Finally, Concord Wealth Partners acquired a new stake in Wheaton Precious Metals in the 3rd quarter worth approximately $61,000. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Stock Performance

NYSE:WPM opened at $163.40 on Friday. The firm’s 50-day moving average is $136.94 and its 200-day moving average is $115.60. The company has a market cap of $74.19 billion, a price-to-earnings ratio of 74.27, a PEG ratio of 1.36 and a beta of 0.52. Wheaton Precious Metals Corp. has a 52-week low of $66.69 and a 52-week high of $164.39.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Jefferies Financial Group reiterated a “buy” rating and set a $145.00 price target on shares of Wheaton Precious Metals in a report on Sunday, December 7th. Scotiabank reiterated an “outperform” rating and issued a $175.00 target price on shares of Wheaton Precious Metals in a research note on Monday, January 26th. Zacks Research raised shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 27th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Wheaton Precious Metals in a report on Wednesday, February 4th. Finally, Wall Street Zen raised Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research report on Sunday, January 18th. One research 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. Based on data from MarketBeat.com, Wheaton Precious Metals presently has a consensus rating of “Buy” and a consensus 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.