Alps Advisors Inc. Grows Holdings in Wheaton Precious Metals Corp. $WPM

Alps Advisors Inc. lifted its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 99.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 139,043 shares of the company’s stock after acquiring an additional 69,368 shares during the quarter. Alps Advisors Inc.’s holdings in Wheaton Precious Metals were worth $15,551,000 as of its most recent SEC filing.

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

Wheaton Precious Metals Stock Up 4.0%

NYSE:WPM opened at $136.20 on Monday. The stock’s fifty day moving average is $125.74 and its two-hundred day moving average is $110.00. Wheaton Precious Metals Corp. has a 52 week low of $66.01 and a 52 week high of $160.36. The company has a market capitalization of $61.84 billion, a P/E ratio of 61.91, a P/E/G ratio of 1.21 and a beta of 0.52.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. The business had revenue of $476.26 million during the quarter, compared to analysts’ expectations of $495.53 million. Wheaton Precious Metals had a net margin of 54.72% and a return on equity of 13.32%. The business’s revenue for the quarter was up 54.5% on a year-over-year basis. During the same period last year, the business earned $0.34 earnings per share. Sell-side analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Zacks Research raised shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 27th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Wheaton Precious Metals in a report on Wednesday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wheaton Precious Metals in a report on Monday, December 29th. Royal Bank Of Canada upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $115.00 to $130.00 in a research report on Wednesday, December 10th. Finally, Scotiabank restated an “outperform” rating and set a $175.00 price target on shares of Wheaton Precious Metals in a research report on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $140.44.

Wheaton Precious Metals Company 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.