JPMorgan Chase & Co. Has $356.27 Million Holdings in Wheaton Precious Metals Corp. $WPM

JPMorgan Chase & Co. boosted its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 2.2% in the third quarter, Holdings Channel.com reports. The firm owned 3,185,567 shares of the company’s stock after acquiring an additional 67,061 shares during the period. JPMorgan Chase & Co.’s holdings in Wheaton Precious Metals were worth $356,274,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Nisa Investment Advisors LLC bought a new position in shares of Wheaton Precious Metals during the third quarter worth about $26,000. Delta Asset Management LLC TN acquired a new position in Wheaton Precious Metals during the 2nd quarter worth approximately $27,000. Root Financial Partners LLC bought a new position in shares of Wheaton Precious Metals during the 3rd quarter worth approximately $29,000. City State Bank raised its holdings in shares of Wheaton Precious Metals by 40.0% in the second quarter. City State Bank now owns 560 shares of the company’s stock valued at $50,000 after purchasing an additional 160 shares during the last quarter. Finally, Pacifica Partners Inc. lifted its position in shares of Wheaton Precious Metals by 27.8% in the third quarter. Pacifica Partners Inc. now owns 460 shares of the company’s stock worth $51,000 after purchasing an additional 100 shares in the last quarter. 70.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on WPM. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wheaton Precious Metals in a research report on Monday, December 29th. UBS Group restated a “neutral” rating and issued a $158.00 price objective on shares of Wheaton Precious Metals in a report on Friday, January 30th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a research report on Wednesday, February 4th. Wall Street Zen raised Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research report on Sunday, January 18th. Finally, Zacks Research upgraded Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 27th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $140.44.

Wheaton Precious Metals Stock Up 1.8%

Shares of NYSE WPM opened at $144.95 on Thursday. The business’s 50 day moving average price is $131.43 and its two-hundred day moving average price is $112.78. The company has a market cap of $65.81 billion, a PE ratio of 65.89, a price-to-earnings-growth ratio of 1.21 and a beta of 0.52. Wheaton Precious Metals Corp. has a twelve month low of $66.69 and a twelve month high of $160.36.

Wheaton Precious Metals 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.