BlackRock Buys $581 Million Wheaton Stake, Signaling Strong Institutional Confidence

BlackRock Inc. purchased 5,174,948 shares of Wheaton Precious Metals Corp. for approximately $581.25 million. The SEC disclosure confirms BlackRock now holds a 1.14% ownership stake in the firm. Institutional investors now control 70.34% of the precious metals company.

Analysts maintain a consensus Moderate Buy rating on the stock. The average price target for Wheaton Precious Metals is $165.55. Winmill & CO. Inc. also reported a new position worth $1.88 million.