Wheaton Precious Metals Corp. (NYSE:WPM) Holdings Cut by Addenda Capital Inc.

Addenda Capital Inc. cut its holdings in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 30.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 915,735 shares of the company's stock after selling 406,100 shares during the quarter. Wheaton Precious Metals makes up about 3.4% of Addenda Capital Inc.'s investment portfolio, making the stock its 6th largest position. Addenda Capital Inc. owned approximately 0.20% of Wheaton Precious Metals worth $71,089,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. GoalVest Advisory LLC lifted its stake in Wheaton Precious Metals by 12.0% in the first quarter. GoalVest Advisory LLC now owns 13,950 shares of the company's stock worth $1,083,000 after acquiring an additional 1,500 shares during the period. GAMMA Investing LLC lifted its position in shares of Wheaton Precious Metals by 7,695.0% during the first quarter. GAMMA Investing LLC now owns 56,670 shares of the company's stock valued at $4,399,000 after buying an additional 55,943 shares during the last quarter. Moody National Bank Trust Division purchased a new stake in shares of Wheaton Precious Metals during the first quarter valued at about $320,000. Versant Capital Management Inc lifted its position in shares of Wheaton Precious Metals by 125.6% during the first quarter. Versant Capital Management Inc now owns 1,146 shares of the company's stock valued at $89,000 after buying an additional 638 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Wheaton Precious Metals by 14.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 58,047 shares of the company's stock valued at $3,265,000 after buying an additional 7,265 shares during the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. CIBC upped their price objective on shares of Wheaton Precious Metals from $95.00 to $105.00 and gave the company an "outperformer" rating in a report on Friday, May 9th. Royal Bank of Canada upped their price objective on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the company a "sector perform" rating in a report on Friday, April 4th. National Bankshares reiterated an "outperform" rating on shares of Wheaton Precious Metals in a report on Wednesday, April 23rd. Stifel Canada upgraded shares of Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 4th. Finally, Wall Street Zen upgraded shares of Wheaton Precious Metals from a "hold" rating to a "buy" rating in a report on Monday, May 12th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $85.90.

Wheaton Precious Metals Trading Down 0.1%

WPM traded down $0.07 during midday trading on Tuesday, hitting $91.76. 1,570,857 shares of the company traded hands, compared to its average volume of 1,678,534. The company has a market capitalization of $41.64 billion, a price-to-earnings ratio of 68.48, a PEG ratio of 1.91 and a beta of 0.49. Wheaton Precious Metals Corp. has a 52-week low of $51.96 and a 52-week high of $91.88. The business has a 50 day simple moving average of $81.10 and a two-hundred day simple moving average of $69.94.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.05. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The business had revenue of $470.41 million for the quarter, compared to the consensus estimate of $446.33 million. During the same period last year, the firm posted $0.36 earnings per share. The company's revenue was up 58.4% compared to the same quarter last year. Equities research analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be paid a dividend of $0.165 per share. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.72%. Wheaton Precious Metals's dividend payout ratio (DPR) is presently 48.53%.

Wheaton Precious Metals 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.