Bank of Montreal Can Has $722.27 Million Stock Holdings in Wheaton Precious Metals Corp. $WPM

Bank of Montreal Can grew its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 26.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,455,675 shares of the company’s stock after purchasing an additional 1,335,588 shares during the period. Bank of Montreal Can owned approximately 1.42% of Wheaton Precious Metals worth $722,270,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. AQR Capital Management LLC bought a new position in Wheaton Precious Metals in the first quarter valued at about $331,000. Focus Partners Wealth lifted its holdings 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 worth $871,000 after acquiring an additional 1,081 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Wheaton Precious Metals in the first quarter worth about $209,000. Sivia Capital Partners LLC acquired a new stake in shares of Wheaton Precious Metals in the 2nd quarter valued at approximately $239,000. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Wheaton Precious Metals by 7.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 71,999 shares of the company’s stock valued at $6,466,000 after purchasing an additional 5,212 shares during the last quarter. 70.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. UBS Group reiterated 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 lowered shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Royal Bank Of Canada raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $115.00 to $130.00 in a research note on Wednesday, December 10th. Jefferies Financial Group reiterated a “buy” rating and set a $145.00 price target on shares of Wheaton Precious Metals in a report on Sunday, December 7th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Wheaton Precious Metals in a research note on Monday, December 29th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.44.

Wheaton Precious Metals Price Performance

Shares of NYSE WPM opened at $148.34 on Tuesday. The company has a 50 day simple moving average of $140.64 and a 200 day simple moving average of $118.24. 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 cap of $67.35 billion, a PE ratio of 67.43, a price-to-earnings-growth ratio of 2.21 and a beta of 0.50.

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.