Wheaton Precious Metals Corp. $WPM Shares Sold by Guardian Capital LP

Key Points

• Guardian Capital LP cut its stake in Wheaton Precious Metals by 14.2% in Q3, selling 55,474 shares and now holding 335,706 shares (~$37.6M), representing about 1.2% of Guardian’s portfolio and 0.07% of the company.
• Other institutions boosted positions—Dimensional Fund Advisors added ~54,794 shares to reach 529,144 shares (~$59.2M) and firms like Orion, KCM and Cresset increased holdings—leaving institutional ownership at 70.34%.
• Analysts have a consensus rating of Moderate Buy (10 Buys, 2 Holds) with a consensus target of $140.44, amid mixed recent actions including a Zacks downgrade and upgrades from RBC and Wall Street Zen.

Guardian Capital LP reduced its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 14.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 335,706 shares of the company's stock after selling 55,474 shares during the quarter. Wheaton Precious Metals comprises approximately 1.2% of Guardian Capital LP's holdings, making the stock its 21st largest position. Guardian Capital LP owned 0.07% of Wheaton Precious Metals worth $37,576,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Orion Porfolio Solutions LLC grew its position in shares of Wheaton Precious Metals by 41.1% during the third quarter. Orion Porfolio Solutions LLC now owns 7,937 shares of the company's stock worth $888,000 after acquiring an additional 2,311 shares during the last quarter. KCM Investment Advisors LLC lifted its position in Wheaton Precious Metals by 34.3% in the 3rd quarter. KCM Investment Advisors LLC now owns 7,705 shares of the company's stock valued at $862,000 after purchasing an additional 1,969 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Wheaton Precious Metals by 11.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 529,144 shares of the company's stock valued at $59,176,000 after purchasing an additional 54,794 shares during the period. Laffer Tengler Investments Inc. bought a new position in Wheaton Precious Metals in the 3rd quarter worth about $219,000. Finally, Cresset Asset Management LLC increased its stake in shares of Wheaton Precious Metals by 53.6% in the third quarter. Cresset Asset Management LLC now owns 9,187 shares of the company's stock valued at $1,027,000 after purchasing an additional 3,206 shares during the period. 70.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

WPM has been the topic of a number of recent analyst reports. Zacks Research cut Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a report on Thursday. UBS Group reaffirmed a "neutral" rating and set a $158.00 target price on shares of Wheaton Precious Metals in a research note on Friday, January 30th. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Wheaton Precious Metals in a research report on Wednesday, February 4th. Wall Street Zen raised Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research note on Sunday, January 18th. Finally, Royal Bank Of Canada raised Wheaton Precious Metals from a "sector perform" rating to an "outperform" rating and raised their price target for the company from $115.00 to $130.00 in a report on Wednesday, December 10th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $140.44.

Wheaton Precious Metals Price Performance

NYSE WPM opened at $147.06 on Friday. Wheaton Precious Metals Corp. has a 12 month low of $68.03 and a 12 month high of $165.76. The firm has a market capitalization of $66.77 billion, a PE ratio of 66.85, a P/E/G ratio of 2.23 and a beta of 0.50. The company's 50 day simple moving average is $140.02 and its 200 day simple moving average is $117.50.

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.

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