Picton Mahoney Asset Management Sells 18,371 Shares of Wheaton Precious Metals Corp. $WPM

Picton Mahoney Asset Management cut its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 3.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 461,195 shares of the company’s stock after selling 18,371 shares during the quarter. Picton Mahoney Asset Management owned approximately 0.10% of Wheaton Precious Metals worth $51,599,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sprott Inc. raised its holdings in shares of Wheaton Precious Metals by 3.0% in the 3rd quarter. Sprott Inc. now owns 1,151,886 shares of the company’s stock valued at $128,928,000 after purchasing an additional 33,076 shares in the last quarter. Focus Partners Advisor Solutions LLC increased its holdings in Wheaton Precious Metals by 19.1% during the third quarter. Focus Partners Advisor Solutions LLC now owns 25,461 shares of the company’s stock valued at $2,703,000 after buying an additional 4,083 shares during the period. Cobblestone Capital Advisors LLC NY raised its stake in Wheaton Precious Metals by 1.2% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 18,174 shares of the company’s stock worth $2,033,000 after buying an additional 219 shares in the last quarter. Harvest Portfolios Group Inc. lifted its holdings in Wheaton Precious Metals by 10.1% during the third quarter. Harvest Portfolios Group Inc. now owns 8,904 shares of the company’s stock worth $996,000 after buying an additional 816 shares during the period. Finally, Abacus Wealth Partners LLC purchased a new stake in Wheaton Precious Metals during the third quarter worth $238,000. 70.34% of the stock is currently owned by institutional investors.

Wheaton Precious Metals Stock Performance

Shares of NYSE WPM opened at $151.60 on Wednesday. Wheaton Precious Metals Corp. has a fifty-two week low of $68.03 and a fifty-two week high of $165.76. The company has a market cap of $68.83 billion, a PE ratio of 68.91, a P/E/G ratio of 2.50 and a beta of 0.50. The business has a 50-day simple moving average of $138.39 and a two-hundred day simple moving average of $116.66.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WPM. Jefferies Financial Group reissued a “buy” rating and issued a $145.00 price target on shares of Wheaton Precious Metals in a research report on Sunday, December 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wheaton Precious Metals in a research note on Monday, December 29th. 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 company from $115.00 to $130.00 in a research report on Wednesday, December 10th. Scotiabank restated an “outperform” rating and issued a $175.00 price target on shares of Wheaton Precious Metals in a report on Monday, January 26th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research note on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average 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.