Metis Global Partners LLC Buys 4,696 Shares of Wheaton Precious Metals Corp. $WPM

Metis Global Partners LLC grew its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 6.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 74,240 shares of the company’s stock after acquiring an additional 4,696 shares during the quarter. Metis Global Partners LLC’s holdings in Wheaton Precious Metals were worth $8,308,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of WPM. Nisa Investment Advisors LLC purchased a new position in shares of Wheaton Precious Metals in the 3rd quarter worth about $26,000. Delta Asset Management LLC TN purchased a new stake in Wheaton Precious Metals during the 2nd quarter valued at about $27,000. Root Financial Partners LLC bought a new stake in Wheaton Precious Metals during the 3rd quarter valued at about $29,000. City State Bank raised its holdings in Wheaton Precious Metals by 40.0% in the second quarter. City State Bank now owns 560 shares of the company’s stock worth $50,000 after buying an additional 160 shares during the last quarter. Finally, Pacifica Partners Inc. raised its holdings in 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 buying an additional 100 shares during the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Trading Down 6.7%

Shares of WPM stock opened at $139.16 on Friday. Wheaton Precious Metals Corp. has a 12-month low of $66.69 and a 12-month high of $160.36. The stock has a market capitalization of $63.18 billion, a P/E ratio of 63.25, a P/E/G ratio of 1.28 and a beta of 0.52. The firm’s 50 day moving average is $128.56 and its 200 day moving average is $111.17.

Analyst Upgrades and Downgrades

WPM has been the topic of a number of recent analyst reports. Royal Bank Of Canada upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $115.00 to $130.00 in a report on Wednesday, December 10th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a research report on Wednesday, February 4th. Jefferies Financial Group reiterated a “buy” rating and set a $145.00 target price on shares of Wheaton Precious Metals in a research note on Sunday, December 7th. Bank of America boosted their price target on Wheaton Precious Metals from $127.00 to $132.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Finally, Scotiabank reaffirmed an “outperform” rating and set a $175.00 price target on shares of Wheaton Precious Metals in a report on Monday, January 26th. One equities research 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target 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.