First Eagle Investment Management LLC Sells 937,294 Shares of Wheaton Precious Metals Corp. $WPM

First Eagle Investment Management LLC lessened its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 5.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,158,963 shares of the company’s stock after selling 937,294 shares during the period. Wheaton Precious Metals accounts for approximately 3.5% of First Eagle Investment Management LLC’s portfolio, making the stock its 3rd largest position. First Eagle Investment Management LLC owned approximately 3.78% of Wheaton Precious Metals worth $1,919,059,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in WPM. Norges Bank acquired a new stake in shares of Wheaton Precious Metals in the 2nd quarter valued at about $656,463,000. Invesco Ltd. lifted its stake in Wheaton Precious Metals by 139.8% in the second quarter. Invesco Ltd. now owns 2,085,042 shares of the company’s stock valued at $187,237,000 after buying an additional 1,215,660 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Wheaton Precious Metals by 24.8% in the second quarter. CIBC Asset Management Inc now owns 3,185,420 shares of the company’s stock valued at $288,255,000 after acquiring an additional 632,464 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Wheaton Precious Metals by 30.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,743,476 shares of the company’s stock worth $246,572,000 after acquiring an additional 632,429 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Wheaton Precious Metals by 20.5% in the 2nd quarter. Geode Capital Management LLC now owns 3,653,717 shares of the company’s stock valued at $332,793,000 after acquiring an additional 622,003 shares during the period. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research note on Wednesday, February 4th. Wall Street Zen raised shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a report on Sunday, January 18th. Scotiabank reissued an “outperform” rating and set a $175.00 price target on shares of Wheaton Precious Metals in a report on Monday, January 26th. Royal Bank Of Canada raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $115.00 to $130.00 in a research note on Wednesday, December 10th. Finally, Zacks Research raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 27th. 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. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $140.44.

Wheaton Precious Metals Trading Up 1.2%

NYSE WPM opened at $165.67 on Tuesday. The stock has a market capitalization of $75.22 billion, a price-to-earnings ratio of 75.30, a PEG ratio of 2.47 and a beta of 0.50. The business’s 50 day moving average is $137.81 and its two-hundred day moving average is $116.25. Wheaton Precious Metals Corp. has a 12-month low of $68.03 and a 12-month high of $165.76.

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.