MQS Management LLC Makes New Investment in Wheaton Precious Metals Corp. $WPM

MQS Management LLC acquired a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,777 shares of the company’s stock, valued at approximately $422,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Wheaton Precious Metals in the 2nd quarter worth about $656,463,000. Invesco Ltd. raised its position in Wheaton Precious Metals by 139.8% in the 2nd quarter. Invesco Ltd. now owns 2,085,042 shares of the company’s stock worth $187,237,000 after purchasing an additional 1,215,660 shares during the period. CIBC Asset Management Inc lifted its stake in Wheaton Precious Metals by 24.8% in the second quarter. CIBC Asset Management Inc now owns 3,185,420 shares of the company’s stock worth $288,255,000 after purchasing an additional 632,464 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Wheaton Precious Metals by 30.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,743,476 shares of the company’s stock valued at $246,572,000 after buying an additional 632,429 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Wheaton Precious Metals by 20.5% during the second quarter. Geode Capital Management LLC now owns 3,653,717 shares of the company’s stock valued at $332,793,000 after buying an additional 622,003 shares during the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Up 3.2%

Shares of WPM opened at $149.29 on Thursday. The company has a 50 day moving average of $127.96 and a two-hundred day moving average of $110.97. Wheaton Precious Metals Corp. has a twelve month low of $66.44 and a twelve month high of $160.36. The company has a market cap of $67.78 billion, a price-to-earnings ratio of 67.86, a price-to-earnings-growth ratio of 1.27 and a beta of 0.52.

Analyst Ratings Changes

WPM has been the subject of a number of recent analyst reports. Scotiabank restated an “outperform” rating and set a $175.00 price objective on shares of Wheaton Precious Metals in a report on Monday, January 26th. Zacks Research upgraded shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wheaton Precious Metals in a research report on Monday, December 29th. Wall Street Zen raised shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a report on Sunday, January 18th. Finally, Bank of America boosted their price objective on shares of Wheaton Precious Metals from $127.00 to $132.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Wheaton Precious Metals has a consensus rating of “Buy” and a consensus target price of $140.44.

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.