5 Best Silver Mining Stocks To Buy Today

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

Number of Hedge Fund Holders: 27

Wheaton Precious Metals Corp. (NYSE:WPM) is among the leading precious metals streaming companies. The company holds 14 development-stage projects and 21 operational mines.

On September 12, Emily Chieng, an analyst at Goldman Sachs, started coverage of the company with a price target of C$53. The analyst believes that the company will continue to generate strong profitability in the coming quarters resulting in increased free cash flow, which will increase the chances of gaining a high return on capital for the investors.

Wheaton Precious Metals Corp. (NYSE:WPM) has been growing its dividends over the past three years and currently offers a dividend yield of 1.88% to investors. The company’s stock is down 23.91% YTD as of October 20, 2022, and is a good entry point for long-term investors.

In its Q2 2020 investor letter, First Eagle Investment Management, an asset management firm, highlighted a few stocks, and Wheaton Precious Metals Corp. (NYSE:WPM) was one of them. Here is what the fund said:

The strength in the price of gold was generally supportive of gold-related equities whose performance historically has been leveraged to the gold price. One such example is Wheaton Precious Metals, a Canadian streaming company that maintains, in our view, a high-quality, low-cost portfolio of precious metal purchase agreements that is well diversified across mining partners, geographies, and metal types. Despite pandemic-related suspensions of six of its mining assets, Wheaton posted a 50% year-over-year increase in operating cash flow for the first quarter, which allowed the company to reduce its net debt while raising its quarterly dividend payment.

First Eagle Investment Management held the highest stake in the company at the end of Q2 2022, with a total investment value of over $613 million in the company. According to Insider’s Monkey database, 27 hedge funds owned stakes in Wheaton Precious Metals Corp. (NYSE:WPM) at the end of Q2 2022.

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