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

Addenda Capital Inc. reduced its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 38.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 376,957 shares of the company's stock after selling 240,350 shares during the period. Wheaton Precious Metals comprises 1.5% of Addenda Capital Inc.'s portfolio, making the stock its 21st largest position. Addenda Capital Inc. owned 0.08% of Wheaton Precious Metals worth $42,340,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in WPM. Euro Pacific Asset Management LLC grew its position in shares of Wheaton Precious Metals by 3.0% during the first quarter. Euro Pacific Asset Management LLC now owns 294,402 shares of the company's stock worth $37,895,000 after buying an additional 8,455 shares in the last quarter. Stack Financial Management Inc bought a new position in Wheaton Precious Metals during the 2nd quarter valued at $30,118,000. Pecaut & CO. bought a new position in Wheaton Precious Metals during the 2nd quarter valued at $1,297,000. Abacus Wealth Partners LLC grew its holdings in Wheaton Precious Metals by 1,402.0% during the 4th quarter. Abacus Wealth Partners LLC now owns 32,023 shares of the company's stock worth $3,763,000 after acquiring an additional 29,891 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in Wheaton Precious Metals by 489.7% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 74,300 shares of the company's stock worth $8,631,000 after acquiring an additional 61,700 shares in the last quarter. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wheaton Precious Metals Price Performance

Shares of WPM opened at $153.48 on Monday. Wheaton Precious Metals Corp. has a 12 month low of $92.57 and a 12 month high of $165.76. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.47 and a quick ratio of 0.47. The stock has a fifty day moving average price of $122.54 and a 200 day moving average price of $131.20. The company has a market cap of $69.70 billion, a P/E ratio of 34.03, a PEG ratio of 2.71 and a beta of 0.55.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.15 by $0.04. The company had revenue of $878.00 million for the quarter, compared to analysts' expectations of $879.29 million. Wheaton Precious Metals had a return on equity of 21.97% and a net margin of 64.66%.The firm's quarterly revenue was up 84.7% compared to the same quarter last year. During the same period last year, the business posted $0.63 earnings per share. On average, research analysts forecast that Wheaton Precious Metals Corp. will post 4.79 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be given a $0.195 dividend. The ex-dividend date is Thursday, August 20th. This represents a $0.78 annualized dividend and a yield of 0.5%. Wheaton Precious Metals's dividend payout ratio is 17.29%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings lowered shares of Wheaton Precious Metals from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, July 16th. Berenberg Bank set a $157.00 price objective on Wheaton Precious Metals in a report on Tuesday, July 28th. Wall Street Zen cut Wheaton Precious Metals from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. Scotiabank reduced their target price on Wheaton Precious Metals from $180.00 to $175.00 and set a "sector outperform" rating on the stock in a report on Tuesday, July 14th. Finally, Royal Bank Of Canada decreased their target price on Wheaton Precious Metals from $165.00 to $160.00 and set an "outperform" rating for the company in a research report on Thursday, July 9th. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $165.55.

Wheaton Precious Metals Company Profile

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.

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