Addenda Capital Inc. Grows Stock Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Addenda Capital Inc. grew its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,321,835 shares of the company's stock after buying an additional 62,590 shares during the quarter. Wheaton Precious Metals makes up 3.4% of Addenda Capital Inc.'s holdings, making the stock its 4th biggest holding. Addenda Capital Inc. owned approximately 0.29% of Wheaton Precious Metals worth $74,340,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc bought a new position in shares of Wheaton Precious Metals during the fourth quarter valued at $29,000. Abich Financial Wealth Management LLC bought a new position in Wheaton Precious Metals during the 2nd quarter worth $31,000. Laurel Wealth Advisors LLC acquired a new position in Wheaton Precious Metals during the 4th quarter worth about $39,000. GAMMA Investing LLC bought a new stake in shares of Wheaton Precious Metals in the 4th quarter valued at about $41,000. Finally, Sunbelt Securities Inc. acquired a new stake in shares of Wheaton Precious Metals in the second quarter valued at about $47,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on WPM shares. Jefferies Financial Group upped their price target on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a "buy" rating in a research report on Friday, October 4th. National Bank Financial upgraded Wheaton Precious Metals from a "sector perform" rating to an "outperform" rating in a research report on Thursday, October 10th. UBS Group began coverage on Wheaton Precious Metals in a report on Monday, November 18th. They issued a "buy" rating and a $78.00 target price for the company. TD Securities increased their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Finally, Raymond James lifted their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $71.67.

Wheaton Precious Metals Stock Up 3.0 %

WPM traded up $1.72 during trading hours on Tuesday, hitting $59.49. The stock had a trading volume of 1,044,130 shares, compared to its average volume of 1,454,228. Wheaton Precious Metals Corp. has a 1 year low of $38.57 and a 1 year high of $68.64. The company's fifty day simple moving average is $59.45 and its 200 day simple moving average is $60.52. The stock has a market cap of $26.99 billion, a PE ratio of 44.40, a price-to-earnings-growth ratio of 1.27 and a beta of 0.76.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.34. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The business had revenue of $308.25 million for the quarter, compared to analysts' expectations of $324.57 million. During the same quarter in the previous year, the firm posted $0.27 EPS. As a group, equities analysts expect that Wheaton Precious Metals Corp. will post 1.45 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Thursday, November 21st were issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 1.04%. The ex-dividend date was Thursday, November 21st. Wheaton Precious Metals's payout ratio is 46.27%.

About Wheaton Precious Metals

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.