Addenda Capital Inc. Increases Stock Holdings in Wheaton Precious Metals Corp. $WPM

Addenda Capital Inc. lifted its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 20.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 570,442 shares of the company’s stock after purchasing an additional 98,152 shares during the period. Wheaton Precious Metals accounts for 2.4% of Addenda Capital Inc.’s holdings, making the stock its 10th biggest position. Addenda Capital Inc. owned about 0.13% of Wheaton Precious Metals worth $67,038,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nisa Investment Advisors LLC bought a new stake in shares of Wheaton Precious Metals during the 3rd quarter worth approximately $26,000. Root Financial Partners LLC bought a new stake in Wheaton Precious Metals in the 3rd quarter valued at $29,000. Aventura Private Wealth LLC bought a new stake in Wheaton Precious Metals in the 4th quarter valued at $34,000. Triumph Capital Management bought a new stake in Wheaton Precious Metals in the 3rd quarter valued at $33,000. Finally, Pacifica Partners Inc. raised its stake in 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 acquiring an additional 100 shares during the period. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Performance

Shares of NYSE WPM opened at $140.31 on Thursday. Wheaton Precious Metals Corp. has a 52 week low of $71.81 and a 52 week high of $165.76. The stock has a market capitalization of $63.70 billion, a P/E ratio of 43.30, a PEG ratio of 3.43 and a beta of 0.60. The stock’s fifty day moving average is $140.50 and its 200 day moving average is $122.66.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Thursday, March 12th. The company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.31. Wheaton Precious Metals had a return on equity of 17.17% and a net margin of 63.58%.The company had revenue of $864.71 million for the quarter, compared to analysts’ expectations of $719.59 million. During the same quarter last year, the business earned $0.44 earnings per share. Wheaton Precious Metals’s revenue was up 127.3% on a year-over-year basis. Equities research analysts forecast that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Tuesday, March 31st will be given a $0.195 dividend. The ex-dividend date is Tuesday, March 31st. This is an increase from Wheaton Precious Metals’s previous quarterly dividend of $0.17. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.6%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 24.07%.

Analyst Ratings Changes

A number of research firms recently weighed in on WPM. TD Securities increased their price target on Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Zacks Research cut Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. Wall Street Zen cut Wheaton Precious Metals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 28th. TD Cowen increased their price target on Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Wheaton Precious Metals in a research note on Monday, December 29th. Thirteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $145.36.

About Wheaton Precious Metals

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.