Capital World Investors Cuts Stock Position in Wheaton Precious Metals Corp. $WPM

Capital World Investors cut its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 2.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 37,669,625 shares of the company’s stock after selling 1,124,060 shares during the quarter. Capital World Investors owned 0.08% of Wheaton Precious Metals worth $4,212,967,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Wheaton Precious Metals by 1.3% in the third quarter. Vanguard Group Inc. now owns 18,789,090 shares of the company’s stock worth $2,102,611,000 after acquiring an additional 234,439 shares during the period. Norges Bank bought a new stake in shares of Wheaton Precious Metals in the 2nd quarter worth approximately $656,463,000. TD Asset Management Inc lifted its stake in Wheaton Precious Metals by 3.5% in the third quarter. TD Asset Management Inc now owns 7,252,054 shares of the company’s stock valued at $811,726,000 after purchasing an additional 244,027 shares during the last quarter. Bank of Montreal Can lifted its stake in Wheaton Precious Metals by 26.1% in the third quarter. Bank of Montreal Can now owns 6,455,675 shares of the company’s stock valued at $722,270,000 after purchasing an additional 1,335,588 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Wheaton Precious Metals by 0.7% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,107,833 shares of the company’s stock valued at $458,683,000 after purchasing an additional 35,047 shares during the period. Institutional investors own 70.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WPM. 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. Zacks Research lowered Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. Wall Street Zen raised Wheaton Precious Metals from a “hold” rating to a “buy” rating in a report on Sunday, January 18th. UBS Group restated a “neutral” rating and issued a $158.00 price objective on shares of Wheaton Precious Metals in a research report on Friday, January 30th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wheaton Precious Metals in a report on Monday, December 29th. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Wheaton Precious Metals has an average rating of “Moderate Buy” and an average target price of $140.44.

Wheaton Precious Metals Stock Performance

NYSE WPM opened at $148.34 on Tuesday. Wheaton Precious Metals Corp. has a 52-week low of $68.03 and a 52-week high of $165.76. The company has a market capitalization of $67.35 billion, a P/E ratio of 67.43, a P/E/G ratio of 2.21 and a beta of 0.50. The company has a fifty day moving average of $140.64 and a 200-day moving average of $118.24.

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.