Arrowstreet Capital Limited Partnership Boosts Stock Holdings in Wheaton Precious Metals Corp. $WPM

Arrowstreet Capital Limited Partnership grew its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 53.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,197,048 shares of the company’s stock after purchasing an additional 1,453,572 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.92% of Wheaton Precious Metals worth $469,459,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Nisa Investment Advisors LLC purchased a new stake in Wheaton Precious Metals during the third quarter worth $26,000. Root Financial Partners LLC purchased a new position in shares of Wheaton Precious Metals in the 3rd quarter valued at $29,000. Delta Asset Management LLC TN purchased a new position in shares of Wheaton Precious Metals in the 2nd quarter valued at $27,000. Pacifica Partners Inc. raised its position in shares of Wheaton Precious Metals by 27.8% in the 3rd quarter. Pacifica Partners Inc. now owns 460 shares of the company’s stock worth $51,000 after acquiring an additional 100 shares in the last quarter. Finally, Concord Wealth Partners bought a new position in shares of Wheaton Precious Metals in the 3rd quarter worth $61,000. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wall Street Analysts Forecast Growth

WPM has been the topic of a number of recent research reports. UBS Group reaffirmed a “neutral” rating and set a $158.00 price objective on shares of Wheaton Precious Metals in a research report on Friday, January 30th. Zacks Research downgraded shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. Royal Bank Of Canada upgraded 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 report on Wednesday, December 10th. Scotiabank reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Wheaton Precious Metals in a research report on Monday, January 26th. Finally, Wall Street Zen upgraded shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research note on Sunday, January 18th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Wheaton Precious Metals has an average rating of “Moderate Buy” and a consensus target price of $140.44.

Wheaton Precious Metals Price Performance

Shares of NYSE:WPM opened at $145.95 on Friday. The business’s 50-day moving average is $142.48 and its 200 day moving average is $119.02. Wheaton Precious Metals Corp. has a 1 year low of $68.03 and a 1 year high of $165.76. The firm has a market capitalization of $66.27 billion, a P/E ratio of 66.34, a P/E/G ratio of 2.22 and a beta of 0.50.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Thursday, March 12th. The company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.31. Wheaton Precious Metals had a return on equity of 13.32% and a net margin of 54.72%.The business had revenue of $864.71 million during the quarter, compared to the consensus estimate of $719.59 million. During the same quarter last year, the company earned $0.44 earnings per share. The company’s quarterly revenue was up 127.3% on a year-over-year basis. On average, analysts expect that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

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.