Moerus Capital Management LLC Sells 89,807 Shares of Wheaton Precious Metals Corp. $WPM

Moerus Capital Management LLC lowered its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 18.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 398,347 shares of the company’s stock after selling 89,807 shares during the period. Wheaton Precious Metals accounts for about 18.1% of Moerus Capital Management LLC’s holdings, making the stock its biggest position. Moerus Capital Management LLC’s holdings in Wheaton Precious Metals were worth $44,551,000 at the end of the most recent reporting period.

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

Wheaton Precious Metals Trading Down 0.5%

Shares of NYSE:WPM opened at $147.06 on Monday. The stock’s fifty day simple moving average is $140.02 and its two-hundred day simple moving average is $117.86. Wheaton Precious Metals Corp. has a 1-year low of $68.03 and a 1-year high of $165.76. The stock has a market cap of $66.77 billion, a PE ratio of 66.85, a price-to-earnings-growth ratio of 2.21 and a beta of 0.50.

Analyst Upgrades and Downgrades

WPM has been the topic of a number of recent research reports. Wall Street Zen raised shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research note on Sunday, January 18th. UBS Group reissued a “neutral” rating and set a $158.00 target price on shares of Wheaton Precious Metals in a research report on Friday, January 30th. Scotiabank restated an “outperform” rating and issued a $175.00 target price on shares of Wheaton Precious Metals in a report on Monday, January 26th. Royal Bank Of Canada raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $115.00 to $130.00 in a research report on Wednesday, December 10th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research note on Wednesday, February 4th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently 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.