Barometer Capital Management Inc. Increases Holdings in Wheaton Precious Metals Corp. $WPM

Key Points

• Barometer Capital Management raised its stake in Wheaton Precious Metals by 25.1% in Q3, acquiring 16,880 shares to hold 84,150 shares valued at $9.411 million, which represents about 2.4% of the firm's portfolio and its 15th largest holding.
• Wheaton's stock traded near $148.68 with a market cap of $67.5B, a P/E of 67.6 and a 12‑month range of $68.03–$165.76, and analysts maintain a consensus "Moderate Buy" rating with an average price target of $140.44 (10 Buys, 2 Holds).

Barometer Capital Management Inc. grew its stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 25.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 84,150 shares of the company's stock after buying an additional 16,880 shares during the quarter. Wheaton Precious Metals accounts for about 2.4% of Barometer Capital Management Inc.'s portfolio, making the stock its 15th largest holding. Barometer Capital Management Inc.'s holdings in Wheaton Precious Metals were worth $9,411,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in WPM. Nisa Investment Advisors LLC purchased a new position in Wheaton Precious Metals in the 3rd quarter worth approximately $26,000. Root Financial Partners LLC purchased a new stake in Wheaton Precious Metals in the third quarter valued at $29,000. Delta Asset Management LLC TN purchased a new position in Wheaton Precious Metals during the second quarter worth about $27,000. Pacifica Partners Inc. raised its stake in shares of Wheaton Precious Metals by 27.8% in the 3rd quarter. Pacifica Partners Inc. now owns 460 shares of the company's stock valued at $51,000 after acquiring an additional 100 shares during the period. Finally, Concord Wealth Partners acquired a new position in Wheaton Precious Metals during the third quarter worth $61,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Trading Down 1.4%

Shares of Wheaton Precious Metals stock opened at $148.68 on Thursday. The stock has a market capitalization of $67.51 billion, a P/E ratio of 67.58, a PEG ratio of 2.26 and a beta of 0.50. The business's fifty day moving average price is $141.91 and its 200 day moving average price is $118.84. Wheaton Precious Metals Corp. has a twelve month low of $68.03 and a twelve month high of $165.76.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WPM. Jefferies Financial Group reaffirmed a "buy" rating and issued a $145.00 price target on shares of Wheaton Precious Metals in a report on Sunday, December 7th. Weiss Ratings reissued a "buy (b)" rating on shares of Wheaton Precious Metals in a report on Monday, December 29th. Wall Street Zen upgraded shares of Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research report on Sunday, January 18th. Royal Bank Of Canada upgraded shares of Wheaton Precious Metals from a "sector perform" rating to an "outperform" rating and raised their price objective for the company from $115.00 to $130.00 in a research report on Wednesday, December 10th. Finally, Zacks Research cut shares of Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 5th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate 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.

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