Moerus Capital Management LLC Sells 89,807 Shares of Wheaton Precious Metals Corp. $WPM

Moerus Capital Management LLC lessened its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 18.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 398,347 shares of the company’s stock after selling 89,807 shares during the period. Wheaton Precious Metals comprises about 18.1% of Moerus Capital Management LLC’s portfolio, making the stock its biggest position. Moerus Capital Management LLC owned 0.09% of Wheaton Precious Metals worth $44,551,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in WPM. Nisa Investment Advisors LLC acquired a new position in shares of Wheaton Precious Metals in the third quarter worth approximately $26,000. Delta Asset Management LLC TN acquired a new stake in Wheaton Precious Metals during the 2nd quarter valued at approximately $27,000. Root Financial Partners LLC acquired a new stake in Wheaton Precious Metals during the 3rd quarter valued at approximately $29,000. Pacifica Partners Inc. raised its holdings in Wheaton Precious Metals by 27.8% during 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 bought a new position in Wheaton Precious Metals during the 3rd quarter worth approximately $61,000. 70.34% of the stock is currently owned by institutional investors.

Wheaton Precious Metals Stock Down 0.5%

Shares of NYSE WPM opened at $147.06 on Monday. The firm 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. Wheaton Precious Metals Corp. has a 12-month low of $68.03 and a 12-month high of $165.76. The company’s fifty day simple moving average is $140.02 and its 200 day simple moving average is $117.86.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on WPM shares. Royal Bank Of Canada raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $115.00 to $130.00 in a research note on Wednesday, December 10th. Scotiabank reissued an “outperform” rating and set a $175.00 target price on shares of Wheaton Precious Metals in a research note on Monday, January 26th. Jefferies Financial Group restated a “buy” rating and issued a $145.00 target price on shares of Wheaton Precious Metals in a report on Sunday, December 7th. UBS Group reaffirmed a “neutral” rating and set a $158.00 price target on shares of Wheaton Precious Metals in a research report on Friday, January 30th. Finally, Zacks Research downgraded Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus 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.