Wheaton Precious Metals Corp. $WPM Shares Sold by First Eagle Investment Management LLC

First Eagle Investment Management LLC reduced its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 5.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 17,158,963 shares of the company’s stock after selling 937,294 shares during the quarter. Wheaton Precious Metals comprises 3.5% of First Eagle Investment Management LLC’s portfolio, making the stock its 3rd biggest holding. First Eagle Investment Management LLC’s holdings in Wheaton Precious Metals were worth $1,919,059,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of WPM. Pacifica Partners Inc. boosted its stake in shares of Wheaton Precious Metals by 27.8% during 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. Miracle Mile Advisors LLC raised its holdings in Wheaton Precious Metals by 0.9% during the third quarter. Miracle Mile Advisors LLC now owns 12,872 shares of the company’s stock worth $1,440,000 after purchasing an additional 110 shares during the last quarter. AE Wealth Management LLC boosted its position in Wheaton Precious Metals by 2.1% during the third quarter. AE Wealth Management LLC now owns 6,091 shares of the company’s stock worth $681,000 after purchasing an additional 123 shares in the last quarter. Uncommon Cents Investing LLC grew its holdings in Wheaton Precious Metals by 1.5% in the third quarter. Uncommon Cents Investing LLC now owns 8,940 shares of the company’s stock valued at $1,000,000 after purchasing an additional 135 shares during the last quarter. Finally, Bradley Foster & Sargent Inc. CT increased its position in shares of Wheaton Precious Metals by 0.3% in the third quarter. Bradley Foster & Sargent Inc. CT now owns 50,492 shares of the company’s stock valued at $5,647,000 after buying an additional 143 shares in the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Stock Performance

WPM stock opened at $165.67 on Tuesday. The stock has a market capitalization of $75.22 billion, a P/E ratio of 75.30, a PEG ratio of 2.47 and a beta of 0.50. Wheaton Precious Metals Corp. has a one year low of $68.03 and a one year high of $165.76. The company has a 50 day moving average price of $137.81 and a two-hundred day moving average price of $116.25.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Zacks Research raised shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 27th. Scotiabank reiterated an “outperform” rating and issued a $175.00 price target on shares of Wheaton Precious Metals in a research report on Monday, January 26th. Wall Street Zen upgraded Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research report on Sunday, January 18th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $145.00 target price on shares of Wheaton Precious Metals in a research note on Sunday, December 7th. Finally, Royal Bank Of Canada raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and raised their price target for the stock 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $140.44.

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.