Metis Global Partners LLC Acquires 4,696 Shares of Wheaton Precious Metals Corp. $WPM

Metis Global Partners LLC raised its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 6.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 74,240 shares of the company’s stock after acquiring an additional 4,696 shares during the quarter. Metis Global Partners LLC’s holdings in Wheaton Precious Metals were worth $8,308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Wheaton Precious Metals by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 18,554,651 shares of the company’s stock worth $1,668,582,000 after purchasing an additional 557,793 shares during the period. Norges Bank purchased a new stake in Wheaton Precious Metals in the second quarter worth about $656,463,000. Bank of Montreal Can raised its stake in shares of Wheaton Precious Metals by 10.3% in the second quarter. Bank of Montreal Can now owns 5,120,087 shares of the company’s stock worth $460,736,000 after buying an additional 478,236 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Wheaton Precious Metals by 0.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,107,833 shares of the company’s stock valued at $458,683,000 after buying an additional 35,047 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Wheaton Precious Metals by 12.8% during the 2nd quarter. Bank of America Corp DE now owns 4,481,459 shares of the company’s stock valued at $402,435,000 after acquiring an additional 507,577 shares during the period. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Performance

Shares of NYSE WPM opened at $139.16 on Friday. The company has a market cap of $63.18 billion, a P/E ratio of 63.25, a P/E/G ratio of 1.28 and a beta of 0.52. Wheaton Precious Metals Corp. has a 52-week low of $66.69 and a 52-week high of $160.36. The firm’s fifty day moving average is $128.56 and its two-hundred day moving average is $111.17.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Jefferies Financial Group restated a “buy” rating and set a $145.00 target price on shares of Wheaton Precious Metals in a research note on Sunday, December 7th. Weiss Ratings restated a “buy (b)” rating on shares of Wheaton Precious Metals in a research report on Monday, December 29th. Royal Bank Of Canada upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $115.00 to $130.00 in a research note on Wednesday, December 10th. UBS Group reiterated a “neutral” rating and issued a $158.00 price target on shares of Wheaton Precious Metals in a research note on Friday, January 30th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Wheaton Precious Metals in a report on Wednesday, February 4th. One investment 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $140.44.

About Wheaton Precious Metals

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.