5 Best Silver Mining Stocks To Buy Now

2. Wheaton Precious Metals Corp. (NYSE:WPM)

Number of Hedge Fund Holders: 28    

Wheaton Precious Metals Corp. (NYSE:WPM) is a metal streaming company that primarily sells precious metals in Canada and internationally. Supply shortages of silver in the past few months have led to an increase in prices of the precious metal, benefiting the stocks of firms like Wheaton. The stock has returned more than 45% to investors in the past six months alone. Silver tends to outgain gold in periods of high inflation, per experts. Analysts say the price of silver could hit $30/oz this year. 

On March 2, investment advisory Berenberg maintained a Buy rating on Wheaton Precious Metals Corp. (NYSE:WPM) stock and lowered the price target to GBP 4,000 from GBP 4,200. Analyst Richard Hatch issued the ratings update. 

At the end of the fourth quarter of 2022, 28 hedge funds in the database of Insider Monkey held stakes worth $672 million in Wheaton Precious Metals Corp. (NYSE:WPM), up from 25 in the previous quarter worth $564 million.

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm First Eagle Investment Management is a leading shareholder in Wheaton Precious Metals Corp. (NYSE:WPM) with 20 million shares worth more than $79 million.