Wheaton Precious Metals Corp. $WPM Shares Purchased by Legal & General Group Plc

Legal & General Group Plc increased its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 6.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,202,980 shares of the company’s stock after buying an additional 193,292 shares during the period. Legal & General Group Plc owned about 0.71% of Wheaton Precious Metals worth $358,512,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in WPM. Pacifica Partners Inc. boosted its position in Wheaton Precious Metals by 27.8% in the 3rd quarter. Pacifica Partners Inc. now owns 460 shares of the company’s stock valued at $51,000 after buying an additional 100 shares during the period. Miracle Mile Advisors LLC increased its position in shares of Wheaton Precious Metals by 0.9% during the third quarter. Miracle Mile Advisors LLC now owns 12,872 shares of the company’s stock worth $1,440,000 after acquiring an additional 110 shares during the period. AE Wealth Management LLC increased its position in shares of Wheaton Precious Metals by 2.1% during the third quarter. AE Wealth Management LLC now owns 6,091 shares of the company’s stock worth $681,000 after acquiring an additional 123 shares during the period. Uncommon Cents Investing LLC raised its stake in shares of Wheaton Precious Metals by 1.5% in the third quarter. Uncommon Cents Investing LLC now owns 8,940 shares of the company’s stock valued at $1,000,000 after acquiring an additional 135 shares in the last quarter. Finally, Bradley Foster & Sargent Inc. CT raised its stake in shares of Wheaton Precious Metals by 0.3% in the third quarter. Bradley Foster & Sargent Inc. CT now owns 50,492 shares of the company’s stock valued at $5,647,000 after acquiring an additional 143 shares in the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Stock Down 1.4%

Shares of WPM opened at $148.68 on Thursday. The company has a market capitalization of $67.51 billion, a price-to-earnings ratio of 67.58, a price-to-earnings-growth ratio of 2.26 and a beta of 0.50. Wheaton Precious Metals Corp. has a 52-week low of $68.03 and a 52-week high of $165.76. The stock has a 50 day moving average price of $141.91 and a 200 day moving average price of $118.84.

Wall Street Analyst Weigh In

Several research analysts recently commented on WPM shares. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Wheaton Precious Metals in a research note on Wednesday, February 4th. Scotiabank reaffirmed an “outperform” rating and issued a $175.00 price target on shares of Wheaton Precious Metals in a research report on Monday, January 26th. UBS Group reiterated a “neutral” rating and issued a $158.00 price objective on shares of Wheaton Precious Metals in a research note on Friday, January 30th. Wall Street Zen raised Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research report on Sunday, January 18th. Finally, 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. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Wheaton Precious Metals has a consensus rating of “Moderate Buy” and a consensus 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.