AlTi Global Inc. Buys Shares of 7,710 Wheaton Precious Metals Corp. $WPM

AlTi Global Inc. purchased a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,710 shares of the company’s stock, valued at approximately $862,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AQR Capital Management LLC acquired a new position in Wheaton Precious Metals in the 1st quarter valued at $331,000. Focus Partners Wealth grew its stake in shares of Wheaton Precious Metals by 10.7% in the first quarter. Focus Partners Wealth now owns 11,223 shares of the company’s stock valued at $871,000 after acquiring an additional 1,081 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Wheaton Precious Metals in the 1st quarter worth about $209,000. Sivia Capital Partners LLC acquired a new stake in Wheaton Precious Metals in the 2nd quarter worth about $239,000. Finally, Truist Financial Corp boosted its holdings in Wheaton Precious Metals by 98.2% in the 2nd quarter. Truist Financial Corp now owns 8,834 shares of the company’s stock valued at $793,000 after purchasing an additional 4,377 shares during the period. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on WPM. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research report on Wednesday, February 4th. Wall Street Zen upgraded Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research report on Sunday, January 18th. 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 raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $115.00 to $130.00 in a research note on Wednesday, December 10th. Finally, Zacks Research upgraded shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Wheaton Precious Metals currently has an average rating of “Buy” and an average target price of $140.44.

Wheaton Precious Metals Price Performance

WPM stock opened at $144.52 on Wednesday. The stock has a market cap of $65.62 billion, a price-to-earnings ratio of 65.69, a P/E/G ratio of 1.27 and a beta of 0.52. The company has a 50 day simple moving average of $127.13 and a 200 day simple moving average of $110.70. Wheaton Precious Metals Corp. has a 1 year low of $66.44 and a 1 year high of $160.36.

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.