Massachusetts Financial Services Co. MA Reduces Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Massachusetts Financial Services Co. MA lessened its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,546,372 shares of the company’s stock after selling 37,736 shares during the period. Massachusetts Financial Services Co. MA owned 1.66% of Wheaton Precious Metals worth $395,581,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in WPM. Ridgewood Investments LLC purchased a new position in shares of Wheaton Precious Metals during the 2nd quarter valued at $31,000. Principal Securities Inc. bought a new stake in shares of Wheaton Precious Metals during the 4th quarter valued at $39,000. St. Johns Investment Management Company LLC bought a new stake in shares of Wheaton Precious Metals during the 1st quarter valued at $52,000. Western Pacific Wealth Management LP raised its stake in shares of Wheaton Precious Metals by 47.6% during the 4th quarter. Western Pacific Wealth Management LP now owns 1,113 shares of the company’s stock valued at $55,000 after purchasing an additional 359 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of Wheaton Precious Metals by 25.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,231 shares of the company’s stock valued at $65,000 after purchasing an additional 253 shares during the period. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Down 0.5 %

Shares of NYSE WPM opened at $62.25 on Tuesday. The firm has a market capitalization of $28.24 billion, a P/E ratio of 47.88, a P/E/G ratio of 2.26 and a beta of 0.78. The stock’s 50-day simple moving average is $59.31 and its two-hundred day simple moving average is $54.17. Wheaton Precious Metals Corp. has a twelve month low of $38.37 and a twelve month high of $63.13.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $299.06 million for the quarter, compared to analyst estimates of $309.54 million. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.31 EPS. As a group, research analysts anticipate that Wheaton Precious Metals Corp. will post 1.4 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.62 annualized dividend and a dividend yield of 1.00%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 47.69%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WPM. BMO Capital Markets boosted their price objective on Wheaton Precious Metals from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. Berenberg Bank boosted their price objective on Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Jefferies Financial Group boosted their price objective on Wheaton Precious Metals from $62.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, July 12th. CIBC boosted their price objective on Wheaton Precious Metals from $75.00 to $80.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Finally, Bank of America boosted their price objective on Wheaton Precious Metals from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $67.50.

Wheaton Precious Metals Company 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.