Wheaton Precious Metals slides as precious-metals prices cool and investors weigh big Antamina financing

Wheaton Precious Metals (WPM) is down 7.0% today. Here is some analysis on what might have caused this price movement.

Analysis: The drop appears tied to a broader pullback in precious-metals prices and related equities, which can quickly pressure streaming stocks after a strong run. The decline may also reflect investors reassessing balance-sheet and concentration risk following Wheaton’s large Antamina expansion that is set to be funded with a mix of cash and new borrowings.

Details:

Wheaton announced a $4.3 billion upfront payment to acquire additional silver-stream exposure tied to BHP’s share of Peru’s Antamina mine, increasing Wheaton’s combined entitlement to 67.5% of Antamina’s silver production once effective.

The company disclosed the Antamina stream is expected to be effective April 1, 2026, with the transaction expected to close around that date subject to customary conditions.

Wheaton described plans to fund the upfront payment using existing liquidity plus new financing, including a $1.5 billion term loan facility and a draw on its revolving credit facility, implying a step up in leverage versus its prior net-cash profile.

Gold and silver have been volatile in recent weeks, and sharp down days in the underlying metals can spill over into high-beta precious-metals equities.

Sources:

Wheaton Precious Metals, U.S. SEC, The Daily Star, IMA

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$WPM Hedge Fund Activity

We have seen 375 institutional investors add shares of $WPM stock to their portfolio, and 357 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

FIL LTD removed 6,927,672 shares (-69.7%) from their portfolio in Q4 2025, for an estimated $814,140,013
MIRAE ASSET GLOBAL ETFS HOLDINGS LTD. added 4,047,228 shares (+58.2%) to their portfolio in Q4 2025, for an estimated $475,630,234
FIRST EAGLE INVESTMENT MANAGEMENT, LLC removed 1,768,855 shares (-10.3%) from their portfolio in Q4 2025, for an estimated $207,875,839
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added 1,715,540 shares (+40.9%) to their portfolio in Q4 2025, for an estimated $201,610,260
ROYAL BANK OF CANADA removed 1,551,646 shares (-15.3%) from their portfolio in Q4 2025, for an estimated $182,349,437
VAN ECK ASSOCIATES CORP added 1,402,092 shares (+10.7%) to their portfolio in Q4 2025, for an estimated $164,773,851
TIDAL INVESTMENTS LLC removed 1,229,212 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $144,456,994

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$WPM Congressional Stock Trading

Members of Congress have traded $WPM stock 3 times in the past 6 months. Of those trades, 3 have been purchases and 0 have been sales.

Here’s a breakdown of recent trading of $WPM stock by members of Congress over the last 6 months:

REPRESENTATIVE GILBERT RAY CISNEROS, JR. has traded it 3 times. They made 3 purchases worth up to $80,000 on 01/27, 11/18, 10/17 and 0 sales.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.

$WPM Analyst Ratings

Wall Street analysts have issued reports on $WPM in the last several months. We have seen 4 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

RBC Capital issued a "Outperform" rating on 12/10/2025
Scotiabank issued a "Sector Outperform" rating on 10/23/2025
CIBC issued a "Outperformer" rating on 10/10/2025
Raymond James issued a "Outperform" rating on 10/10/2025

To track analyst ratings and price targets for $WPM, check out Quiver Quantitative's $WPM forecast page.

$WPM Price Targets

Multiple analysts have issued price targets for $WPM recently. We have seen 8 analysts offer price targets for $WPM in the last 6 months, with a median target of $146.0.

Here are some recent targets:

Tanya Jakusconek from Scotiabank set a target price of $178.0 on 03/16/2026
Derick Ma from TD Cowen set a target price of $165.0 on 03/16/2026
Greg Barnes from TD Securities set a target price of $165.0 on 03/16/2026
Josh Wolfson from RBC Capital set a target price of $130.0 on 12/10/2025
Daniel Major from UBS set a target price of $118.0 on 12/01/2025
Lawson Winder from B of A Securities set a target price of $132.0 on 10/16/2025
Cosmos Chiu from CIBC set a target price of $160.0 on 10/10/2025

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.