HighTower Advisors LLC Trims Stock Position in Wheaton Precious Metals Corp. $WPM

HighTower Advisors LLC cut its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 6.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 199,765 shares of the company’s stock after selling 14,393 shares during the quarter. HighTower Advisors LLC’s holdings in Wheaton Precious Metals were worth $22,342,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new position in Wheaton Precious Metals in the second quarter worth about $656,463,000. Invesco Ltd. raised its position in shares of Wheaton Precious Metals by 139.8% in the 2nd quarter. Invesco Ltd. now owns 2,085,042 shares of the company’s stock worth $187,237,000 after acquiring an additional 1,215,660 shares in the last quarter. CIBC Asset Management Inc lifted its stake in shares of 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 lifted its stake in shares of Wheaton Precious Metals by 30.0% in 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 during the period. Finally, Geode Capital Management LLC boosted its position in shares of Wheaton Precious Metals by 20.5% during the second 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 Price Performance

Shares of Wheaton Precious Metals stock opened at $144.95 on Thursday. The stock has a market cap of $65.81 billion, a price-to-earnings ratio of 65.89, a PEG ratio of 1.21 and a beta of 0.52. Wheaton Precious Metals Corp. has a 1 year low of $66.69 and a 1 year high of $160.36. The firm’s 50-day moving average is $131.43 and its 200 day moving average is $112.78.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on WPM shares. Jefferies Financial Group reiterated a “buy” rating and issued a $145.00 price objective on shares of Wheaton Precious Metals in a report on Sunday, December 7th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research note on Wednesday, February 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Wheaton Precious Metals in a research report on Monday, December 29th. Zacks Research raised shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 27th. Finally, Scotiabank restated an “outperform” rating and issued a $175.00 price objective on shares of Wheaton Precious Metals in a report on Monday, January 26th. 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $140.44.

Wheaton Precious Metals Company 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.