Top 5 Zinc Stocks Picked By Hedge Funds for 2022

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

Number of Hedge Fund Holdings: 27

Based in Vancouver, Wheaton Precious Metals (NYSE:WPM) is a Canadian multinational precious metals streaming company and focuses on the production of streaming of silver, lead, copper and zinc. On September 12, Goldman Sachs analyst Emily Chieng initiated coverage of Wheaton Precious Metals (NYSE:WPM) with a Buy rating and a $38.33 price target. According to the analyst, the company’s recent stream acquisitions will generate stronger free cash flow, underpinning increased potential for capital returns. The analyst contends that of all the players in the precious metals streaming sector, Wheaton Precious Metals (NYSE:WPM) provides the greatest exposure to precious metals.

As of the second quarter of 2022, Wheaton Precious Metals (NYSE:WPM) posted earnings of $0.33 per share, beating estimates of $0.32 by $0.01. Investor interest around the stock declined slightly in Q2 2022, with 27 hedge funds long the stock, down from 28 in the preceding quarter. As of Q2 2022, First Eagle Investment Management is the largest shareholder in Wheaton Precious Metals (NYSE:WPM), having a total stake of $613.67 million. The company generated a total revenue of $302.92 million in Q2 2022.