Gamco Investors INC. ET AL Decreases Stake in Wheaton Precious Metals Corp. $WPM

Gamco Investors INC. ET AL cut its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 6.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,347 shares of the company’s stock after selling 4,915 shares during the period. Gamco Investors INC. ET AL’s holdings in Wheaton Precious Metals were worth $7,756,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nisa Investment Advisors LLC acquired a new stake in Wheaton Precious Metals during the 3rd quarter valued at approximately $26,000. Root Financial Partners LLC acquired a new position in shares of Wheaton Precious Metals in the 3rd quarter valued at approximately $29,000. Delta Asset Management LLC TN acquired a new position in shares of Wheaton Precious Metals in the 2nd quarter valued at approximately $27,000. Pacifica Partners Inc. boosted its stake 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 buying an additional 100 shares during the last quarter. Finally, Concord Wealth Partners purchased a new position in shares of Wheaton Precious Metals during the 3rd quarter valued at approximately $61,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Price Performance

Wheaton Precious Metals stock opened at $147.06 on Monday. Wheaton Precious Metals Corp. has a 12 month low of $68.03 and a 12 month high of $165.76. The company has a fifty day moving average price of $140.02 and a two-hundred day moving average price of $117.86. The company has a market cap of $66.77 billion, a PE ratio of 66.85, a P/E/G ratio of 2.21 and a beta of 0.50.

Wall Street Analyst Weigh In

WPM has been the subject of a number of research analyst reports. Jefferies Financial Group restated a “buy” rating and issued a $145.00 price target on shares of Wheaton Precious Metals in a research note on Sunday, December 7th. Zacks Research downgraded shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Weiss Ratings reissued a “buy (b)” rating on shares of Wheaton Precious Metals in a report on Monday, December 29th. Wall Street Zen raised shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research report on Sunday, January 18th. Finally, Royal Bank Of Canada raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $115.00 to $130.00 in a research report on Wednesday, December 10th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate 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.