Allianz Asset Management GmbH Has $47.60 Million Stake in Wheaton Precious Metals Corp. $WPM

Allianz Asset Management GmbH lessened its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 13.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 425,258 shares of the company’s stock after selling 66,229 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.09% of Wheaton Precious Metals worth $47,599,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Scotiabank restated an “outperform” rating and issued a $175.00 price objective on shares of Wheaton Precious Metals in a research report on Monday, January 26th. Weiss Ratings reissued a “buy (b)” rating on shares of Wheaton Precious Metals in a research report on Monday, December 29th. Zacks Research upgraded Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 27th. Jefferies Financial Group restated a “buy” rating and set a $145.00 target price on shares of Wheaton Precious Metals in a research note on Sunday, December 7th. Finally, Bank of America increased their price objective on shares of Wheaton Precious Metals from $127.00 to $132.00 and gave the company a “buy” rating in a report on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $140.44.

Wheaton Precious Metals Trading Up 2.7%

Shares of WPM opened at $140.45 on Thursday. Wheaton Precious Metals Corp. has a 12 month low of $64.73 and a 12 month high of $160.36. The firm has a market cap of $63.77 billion, a PE ratio of 63.84, a P/E/G ratio of 1.22 and a beta of 0.52. The stock has a fifty day moving average price of $124.71 and a 200-day moving average price of $109.33.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. Wheaton Precious Metals had a net margin of 54.72% and a return on equity of 13.32%. The company had revenue of $476.26 million during the quarter, compared to analyst estimates of $495.53 million. During the same period last year, the firm posted $0.34 EPS. Wheaton Precious Metals’s revenue for the quarter was up 54.5% compared to the same quarter last year. As a group, research analysts forecast that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

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.