Connor Clark & Lunn Investment Management Ltd. Has $191.59 Million Holdings in Wheaton Precious Metals Corp. $WPM

Connor Clark & Lunn Investment Management Ltd. lessened its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 34.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,712,476 shares of the company’s stock after selling 884,018 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Wheaton Precious Metals were worth $191,592,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of WPM. Norges Bank bought a new stake in Wheaton Precious Metals during the second quarter valued at $656,463,000. Bank of Montreal Can raised its position in shares of Wheaton Precious Metals by 26.1% in the 3rd quarter. Bank of Montreal Can now owns 6,455,675 shares of the company’s stock worth $722,270,000 after acquiring an additional 1,335,588 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Wheaton Precious Metals by 139.8% in the 2nd quarter. Invesco Ltd. now owns 2,085,042 shares of the company’s stock valued at $187,237,000 after purchasing an additional 1,215,660 shares during the period. Capital Research Global Investors boosted its position in shares of Wheaton Precious Metals by 158.1% during the 3rd quarter. Capital Research Global Investors now owns 1,458,898 shares of the company’s stock valued at $163,224,000 after purchasing an additional 893,733 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in shares of Wheaton Precious Metals by 24.8% during the 2nd quarter. CIBC Asset Management Inc now owns 3,185,420 shares of the company’s stock valued at $288,255,000 after purchasing an additional 632,464 shares in the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on WPM shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $145.00 target price on shares of Wheaton Precious Metals in a research note on Sunday, December 7th. Scotiabank restated an “outperform” rating and set a $175.00 price target on shares of Wheaton Precious Metals in a report on Monday, January 26th. Zacks Research downgraded shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research note on Wednesday, February 4th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Wheaton Precious Metals in a research report on Monday, December 29th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $140.44.

Wheaton Precious Metals Price Performance

Shares of WPM opened at $148.68 on Thursday. Wheaton Precious Metals Corp. has a one year low of $68.03 and a one year high of $165.76. The company has a market cap of $67.51 billion, a PE ratio of 67.58, a P/E/G ratio of 2.26 and a beta of 0.50. The stock has a 50-day moving average of $141.91 and a 200-day moving average of $118.84.

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.