HighTower Advisors LLC Cuts Holdings in Wheaton Precious Metals Corp. $WPM

HighTower Advisors LLC lowered its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 6.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 199,765 shares of the company’s stock after selling 14,393 shares during the quarter. HighTower Advisors LLC’s holdings in Wheaton Precious Metals were worth $22,342,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Pacifica Partners Inc. lifted its stake in Wheaton Precious Metals by 27.8% during the third quarter. Pacifica Partners Inc. now owns 460 shares of the company’s stock worth $51,000 after purchasing an additional 100 shares during the last quarter. Miracle Mile Advisors LLC raised its holdings in shares of Wheaton Precious Metals by 0.9% during the 3rd quarter. Miracle Mile Advisors LLC now owns 12,872 shares of the company’s stock valued at $1,440,000 after buying an additional 110 shares in the last quarter. AE Wealth Management LLC lifted its position in Wheaton Precious Metals by 2.1% in the 3rd quarter. AE Wealth Management LLC now owns 6,091 shares of the company’s stock worth $681,000 after buying an additional 123 shares during the last quarter. Uncommon Cents Investing LLC boosted its stake 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 worth $1,000,000 after buying an additional 135 shares in the last quarter. Finally, Veracity Capital LLC grew its position in Wheaton Precious Metals by 2.1% during the third quarter. Veracity Capital LLC now owns 7,318 shares of the company’s stock valued at $818,000 after acquiring an additional 149 shares during the last quarter. 70.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on WPM shares. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Wheaton Precious Metals in a report on Wednesday, February 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Wheaton Precious Metals in a research note on Monday, December 29th. Jefferies Financial Group reaffirmed a “buy” rating and set a $145.00 price objective on shares of Wheaton Precious Metals in a research note on Sunday, December 7th. UBS Group reissued a “neutral” rating and issued a $158.00 target price on shares of Wheaton Precious Metals in a research note on Friday, January 30th. Finally, Scotiabank restated an “outperform” rating and set a $175.00 target price on shares of Wheaton Precious Metals in a report on Monday, January 26th. One 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.com, Wheaton Precious Metals presently has a consensus rating of “Buy” and a consensus target price of $140.44.

Wheaton Precious Metals Trading Up 1.8%

Wheaton Precious Metals stock opened at $144.95 on Thursday. The firm has a market cap of $65.81 billion, a P/E ratio of 65.89, a P/E/G ratio of 1.21 and a beta of 0.52. Wheaton Precious Metals Corp. has a 1-year low of $66.69 and a 1-year high of $160.36. The firm has a 50-day moving average of $131.43 and a 200-day moving average of $112.78.

About Wheaton Precious Metals

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.