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

Intech Investment Management LLC reduced its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 20.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,383 shares of the company’s stock after selling 28,188 shares during the quarter. Intech Investment Management LLC’s holdings in Wheaton Precious Metals were worth $12,131,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Wheaton Precious Metals in the second quarter worth approximately $656,463,000. Invesco Ltd. lifted its position in shares of Wheaton Precious Metals by 139.8% during the 2nd quarter. Invesco Ltd. now owns 2,085,042 shares of the company’s stock valued at $187,237,000 after acquiring an additional 1,215,660 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Wheaton Precious Metals by 24.8% during the 2nd quarter. CIBC Asset Management Inc now owns 3,185,420 shares of the company’s stock worth $288,255,000 after acquiring an additional 632,464 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Wheaton Precious Metals by 30.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,743,476 shares of the company’s stock worth $246,572,000 after acquiring an additional 632,429 shares during the last quarter. Finally, Geode Capital Management LLC raised its position 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 worth $332,793,000 after purchasing an additional 622,003 shares during the period. 70.34% of the stock is currently owned by institutional investors.

Wheaton Precious Metals Price Performance

NYSE:WPM opened at $160.99 on Friday. The stock has a market cap of $73.10 billion, a PE ratio of 73.18, a price-to-earnings-growth ratio of 1.31 and a beta of 0.52. Wheaton Precious Metals Corp. has a fifty-two week low of $66.69 and a fifty-two week high of $161.50. The stock’s 50-day moving average is $136.06 and its two-hundred day moving average is $115.01.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WPM. UBS Group reaffirmed a “neutral” rating and set a $158.00 target price on shares of Wheaton Precious Metals in a report on Friday, January 30th. Zacks Research upgraded Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 27th. Royal Bank Of Canada raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $115.00 to $130.00 in a research note on Wednesday, December 10th. Scotiabank reissued an “outperform” rating and issued a $175.00 target price on shares of Wheaton Precious Metals in a research report on Monday, January 26th. Finally, Wall Street Zen upgraded shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a report on Sunday, January 18th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus 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.