JPMorgan Chase & Co. Purchases 67,061 Shares of Wheaton Precious Metals Corp. $WPM

JPMorgan Chase & Co. boosted its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 2.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,185,567 shares of the company’s stock after buying an additional 67,061 shares during the period. JPMorgan Chase & Co. owned about 0.70% of Wheaton Precious Metals worth $356,274,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TD Waterhouse Canada Inc. raised its holdings in Wheaton Precious Metals by 9.4% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 809,093 shares of the company’s stock worth $89,886,000 after purchasing an additional 69,496 shares during the last quarter. J. Safra Sarasin Holding AG boosted its stake in shares of Wheaton Precious Metals by 38.5% in the 3rd quarter. J. Safra Sarasin Holding AG now owns 68,485 shares of the company’s stock valued at $7,659,000 after purchasing an additional 19,050 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Wheaton Precious Metals during the 3rd quarter worth approximately $11,355,000. West Family Investments Inc. bought a new stake in shares of Wheaton Precious Metals during the second quarter worth approximately $247,000. Finally, Norges Bank acquired a new position in Wheaton Precious Metals in the second quarter valued at approximately $656,463,000. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Stock Performance

Shares of WPM opened at $144.95 on Thursday. The stock has a 50 day simple moving average of $131.43 and a 200 day simple moving average of $112.78. Wheaton Precious Metals Corp. has a 52-week low of $66.69 and a 52-week high of $160.36. The firm has a market capitalization of $65.81 billion, a PE ratio of 65.89, a P/E/G ratio of 1.21 and a beta of 0.52.

Analyst Upgrades and Downgrades

WPM has been the subject of a number of analyst reports. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a report on Wednesday, February 4th. Wall Street Zen upgraded Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research report on Sunday, January 18th. Zacks Research upgraded Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 27th. 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, Jefferies Financial Group reaffirmed a “buy” rating and issued a $145.00 price target on shares of Wheaton Precious Metals in a research note on Sunday, December 7th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $140.44.

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.