Wheaton Precious Metals Corp. $WPM Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH reduced its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 13.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 425,258 shares of the company’s stock after selling 66,229 shares during the quarter. Allianz Asset Management GmbH’s holdings in Wheaton Precious Metals were worth $47,599,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC acquired a new position in shares of Wheaton Precious Metals during the third quarter worth about $26,000. Root Financial Partners LLC acquired a new position in Wheaton Precious Metals in the third quarter valued at $29,000. Delta Asset Management LLC TN purchased a new stake in Wheaton Precious Metals in the second quarter valued at approximately $27,000. Pacifica Partners Inc. raised its position in shares of Wheaton Precious Metals by 27.8% in the 3rd quarter. Pacifica Partners Inc. now owns 460 shares of the company’s stock worth $51,000 after buying an additional 100 shares during the period. Finally, City State Bank lifted its stake in shares of Wheaton Precious Metals by 40.0% in the 2nd quarter. City State Bank now owns 560 shares of the company’s stock valued at $50,000 after purchasing an additional 160 shares in the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Performance

Wheaton Precious Metals stock opened at $140.45 on Thursday. The firm has a market cap of $63.77 billion, a PE ratio of 63.84, a P/E/G ratio of 1.22 and a beta of 0.52. Wheaton Precious Metals Corp. has a twelve month low of $64.73 and a twelve month high of $160.36. The firm’s 50 day moving average price is $124.71 and its two-hundred day moving average price is $109.33.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. The firm had revenue of $476.26 million during the quarter, compared to analysts’ expectations of $495.53 million. Wheaton Precious Metals had a net margin of 54.72% and a return on equity of 13.32%. Wheaton Precious Metals’s revenue for the quarter was up 54.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.34 earnings per share. Equities analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. UBS Group restated a “neutral” rating and issued a $158.00 price target on shares of Wheaton Precious Metals in a report on Friday, January 30th. Wall Street Zen upgraded shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research report on Sunday, January 18th. Scotiabank reiterated an “outperform” rating and set a $175.00 price target on shares of Wheaton Precious Metals in a research report on Monday, January 26th. Raymond James Financial raised their price target on Wheaton Precious Metals from $114.00 to $127.00 and gave the company an “outperform” rating in a report on Friday, October 10th. Finally, CIBC reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Wheaton Precious Metals presently has a consensus rating of “Buy” and an average target price 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.