Addenda Capital Inc. Has $52.82 Million Stock Position in Wheaton Precious Metals Corp. $WPM

Addenda Capital Inc. boosted its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 63.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 472,290 shares of the company’s stock after purchasing an additional 183,123 shares during the period. Wheaton Precious Metals comprises approximately 1.9% of Addenda Capital Inc.’s investment portfolio, making the stock its 15th biggest position. Addenda Capital Inc. owned 0.10% of Wheaton Precious Metals worth $52,821,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of WPM. Bulwark Capital Corp bought a new stake in shares of Wheaton Precious Metals during the 2nd quarter worth $27,000. Delta Asset Management LLC TN bought a new position in Wheaton Precious Metals in the second quarter valued at about $27,000. Wealth Preservation Advisors LLC acquired a new position in Wheaton Precious Metals during the first quarter worth about $38,000. City State Bank lifted its holdings in shares of Wheaton Precious Metals by 40.0% in the second quarter. City State Bank now owns 560 shares of the company’s stock worth $50,000 after acquiring an additional 160 shares during the last quarter. Finally, Pacifica Partners Inc. boosted its stake in shares of Wheaton Precious Metals by 27.8% in the 3rd quarter. Pacifica Partners Inc. now owns 460 shares of the company’s stock valued at $51,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Price Performance

WPM opened at $115.52 on Friday. Wheaton Precious Metals Corp. has a fifty-two week low of $55.47 and a fifty-two week high of $120.55. The company’s 50 day moving average price is $104.70 and its two-hundred day moving average price is $99.55. The firm has a market capitalization of $52.45 billion, a price-to-earnings ratio of 52.51, a PEG ratio of 1.71 and a beta of 0.54.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.03. The firm had revenue of $476.26 million during the quarter, compared to the consensus estimate of $495.53 million. Wheaton Precious Metals had a net margin of 54.72% and a return on equity of 13.32%. The company’s revenue for the quarter was up 54.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.34 earnings per share. As a group, equities research analysts predict that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, November 20th were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Thursday, November 20th. Wheaton Precious Metals’s payout ratio is 30.00%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on WPM shares. UBS Group lifted their price target on shares of Wheaton Precious Metals from $116.00 to $118.00 and gave the company a “neutral” rating in a report on Monday, December 1st. Zacks Research upgraded shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 24th. Wall Street Zen raised shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research note on Monday, September 8th. Berenberg Bank increased their price target on Wheaton Precious Metals from $102.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Finally, Bank of America raised their price objective on Wheaton Precious Metals from $127.00 to $132.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Wheaton Precious Metals has a consensus rating of “Buy” and a consensus price target of $130.78.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.