Andra AP fonden Grows Stake in Wheaton Precious Metals Corp. $WPM

Andra AP fonden increased its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 64.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 74,700 shares of the company’s stock after buying an additional 29,300 shares during the period. Andra AP fonden’s holdings in Wheaton Precious Metals were worth $8,354,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in WPM. TD Waterhouse Canada Inc. increased its holdings in shares of Wheaton Precious Metals by 9.4% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 809,093 shares of the company’s stock valued at $89,886,000 after acquiring an additional 69,496 shares during the period. J. Safra Sarasin Holding AG grew its stake in Wheaton Precious Metals by 38.5% in the third quarter. J. Safra Sarasin Holding AG now owns 68,485 shares of the company’s stock valued at $7,659,000 after purchasing an additional 19,050 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Wheaton Precious Metals in the third quarter worth about $11,355,000. West Family Investments Inc. purchased a new stake in shares of Wheaton Precious Metals during the second quarter valued at about $247,000. Finally, Norges Bank bought a new stake in shares of Wheaton Precious Metals in the 2nd quarter valued at about $656,463,000. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on WPM. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Wheaton Precious Metals in a research note on Wednesday, February 4th. UBS Group reissued a “neutral” rating and issued a $158.00 price objective on shares of Wheaton Precious Metals in a research report on Friday, January 30th. Jefferies Financial Group reiterated a “buy” rating and issued a $145.00 price target on shares of Wheaton Precious Metals in a research note on Sunday, December 7th. Zacks Research upgraded Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 27th. Finally, Royal Bank Of Canada raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $115.00 to $130.00 in a research report on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Wheaton Precious Metals has an average rating of “Buy” and a consensus target price of $140.44.

Wheaton Precious Metals Stock Up 1.5%

Shares of Wheaton Precious Metals stock opened at $163.40 on Friday. The firm has a market cap of $74.19 billion, a PE ratio of 74.27, a P/E/G ratio of 1.36 and a beta of 0.52. The business has a 50-day moving average price of $136.94 and a 200 day moving average price of $115.60. Wheaton Precious Metals Corp. has a twelve month low of $66.69 and a twelve month high of $164.39.

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.