5 Best Gold and Silver Stocks to Buy Amid Rising Inflation

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

Number of Hedge Fund Holders: 28

Wheaton Precious Metals Corp. (NYSE: WPM) is a mining company that mainly works in selling precious metals in Canada and internationally. The company sells a range of metals including gold, silver, palladium, and cobalt. It had agreements for 24 operating mining assets and 7 development stage projects. The company ranks 4th on our list of the best gold and silver stocks to buy amid rising inflation.

In March, Wheaton Precious Metals Corp. (NYSE: WPM) was upgraded to Outperform by RBC with a $51 price target, with the firm recommending investors to buy the stock despite recent losses. This May, Wheaton Precious Metals Corp. (NYSE: WPM) offered guidance for full-year attributable production of 370,000 to 400,000 ounces of gold, and 22.5 million to 24 million ounces of silver, bringing the total production guidance up to 720,000 to 780,000 gold equivalent ounces.

By the end of the first quarter of 2021, 28 hedge funds out of the 866 tracked by Insider Monkey held stakes in Wheaton Precious Metals Corp. (NYSE: WPM). The total value of their stakes was roughly $439 million. This is compared to 34 hedge funds out of 887 in the previous quarter holding stakes valued at about $755 million.