Wheaton Precious Metals Corp. $WPM Shares Sold by Guardian Capital LP

Guardian Capital LP cut its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 14.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 335,706 shares of the company’s stock after selling 55,474 shares during the quarter. Wheaton Precious Metals comprises about 1.2% of Guardian Capital LP’s investment portfolio, making the stock its 21st biggest holding. Guardian Capital LP’s holdings in Wheaton Precious Metals were worth $37,576,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. TD Waterhouse Canada Inc. lifted its position in shares of Wheaton Precious Metals by 9.4% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 809,093 shares of the company’s stock valued at $89,886,000 after acquiring an additional 69,496 shares during the last quarter. J. Safra Sarasin Holding AG grew its holdings in shares of Wheaton Precious Metals by 38.5% in the 3rd quarter. J. Safra Sarasin Holding AG now owns 68,485 shares of the company’s stock worth $7,659,000 after acquiring an additional 19,050 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Wheaton Precious Metals during the third quarter worth $11,355,000. West Family Investments Inc. acquired a new stake in shares of Wheaton Precious Metals during the second quarter worth $247,000. Finally, Norges Bank purchased a new stake in shares of Wheaton Precious Metals during the second quarter valued at $656,463,000. Institutional investors and hedge funds own 70.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Royal Bank Of Canada upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $115.00 to $130.00 in a report on Wednesday, December 10th. Wall Street Zen upgraded shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a report on Sunday, January 18th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wheaton Precious Metals in a research note on Monday, December 29th. Jefferies Financial Group restated a “buy” rating and issued a $145.00 target price on shares of Wheaton Precious Metals in a research note on Sunday, December 7th. Finally, Scotiabank restated an “outperform” rating and issued a $175.00 target price on shares of Wheaton Precious Metals in a research note on Monday, January 26th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.44.

Wheaton Precious Metals Price Performance

WPM stock opened at $147.06 on Friday. The stock has a market cap of $66.77 billion, a price-to-earnings ratio of 66.85, a price-to-earnings-growth ratio of 2.23 and a beta of 0.50. The company has a fifty day moving average price of $140.02 and a two-hundred day moving average price of $117.50. Wheaton Precious Metals Corp. has a one year low of $68.03 and a one year high of $165.76.

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.