Addenda Capital Inc. Has $30.59 Million Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Addenda Capital Inc. increased its position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 55.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 619,975 shares of the company's stock after acquiring an additional 220,880 shares during the period. Wheaton Precious Metals makes up about 1.5% of Addenda Capital Inc.'s investment portfolio, making the stock its 21st biggest position. Addenda Capital Inc. owned approximately 0.14% of Wheaton Precious Metals worth $30,590,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of WPM. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Wheaton Precious Metals by 6.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,344,956 shares of the company's stock worth $301,893,000 after acquiring an additional 361,138 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Wheaton Precious Metals by 0.9% during the 1st quarter. Bank of New York Mellon Corp now owns 481,497 shares of the company's stock worth $22,909,000 after purchasing an additional 4,497 shares during the period. US Bancorp DE raised its position in shares of Wheaton Precious Metals by 4.9% in the 1st quarter. US Bancorp DE now owns 11,778 shares of the company's stock worth $561,000 after buying an additional 551 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Wheaton Precious Metals by 21.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 20,122 shares of the company's stock worth $957,000 after buying an additional 3,535 shares during the period. Finally, BlackRock Inc. raised its position in shares of Wheaton Precious Metals by 245.5% in the 1st quarter. BlackRock Inc. now owns 2,530,486 shares of the company's stock worth $120,401,000 after buying an additional 1,798,086 shares during the period. Institutional investors and hedge funds own 70.34% of the company's stock.

Wheaton Precious Metals Stock Down 2.1 %

Wheaton Precious Metals stock traded down $1.06 during mid-day trading on Thursday, hitting $50.03. The company's stock had a trading volume of 2,672,284 shares, compared to its average volume of 2,097,454. The stock has a market capitalization of $22.67 billion, a P/E ratio of 42.04, a P/E/G ratio of 12.77 and a beta of 0.77. Wheaton Precious Metals Corp. has a twelve month low of $38.37 and a twelve month high of $52.76. The stock's fifty day moving average price is $44.81 and its two-hundred day moving average price is $45.24.

Wheaton Precious Metals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Wednesday, April 3rd will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 1.24%. This is a boost from Wheaton Precious Metals's previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Tuesday, April 2nd. Wheaton Precious Metals's payout ratio is presently 52.10%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on WPM shares. National Bank Financial downgraded Wheaton Precious Metals from an "outperform" rating to a "sector perform" rating in a report on Wednesday, February 21st. Berenberg Bank raised their target price on shares of Wheaton Precious Metals from $52.00 to $54.00 and gave the stock a "buy" rating in a report on Wednesday, March 27th. Raymond James cut their target price on shares of Wheaton Precious Metals from $60.00 to $58.00 and set a "market perform" rating on the stock in a report on Thursday, February 22nd. TD Securities raised shares of Wheaton Precious Metals from a "hold" rating to a "buy" rating and raised their target price for the stock from $51.00 to $53.00 in a report on Monday, March 18th. Finally, BMO Capital Markets cut their target price on shares of Wheaton Precious Metals from $61.00 to $59.00 and set an "outperform" rating on the stock in a report on Wednesday, February 21st. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.81.

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 10, 2017. Wheaton Precious Metals Corp.