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

Massachusetts Financial Services Co. MA cut its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 0.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,546,372 shares of the company’s stock after selling 37,736 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Wheaton Precious Metals were worth $395,581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. First Eagle Investment Management LLC boosted its holdings in Wheaton Precious Metals by 1.4% during the 1st quarter. First Eagle Investment Management LLC now owns 21,403,409 shares of the company’s stock valued at $1,008,743,000 after acquiring an additional 292,968 shares during the period. Van ECK Associates Corp boosted its holdings in Wheaton Precious Metals by 1.0% during the 2nd quarter. Van ECK Associates Corp now owns 19,984,984 shares of the company’s stock valued at $1,047,621,000 after acquiring an additional 197,426 shares during the period. Vanguard Group Inc. boosted its holdings in Wheaton Precious Metals by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 16,770,475 shares of the company’s stock valued at $790,392,000 after acquiring an additional 272,918 shares during the period. FIL Ltd lifted its holdings in Wheaton Precious Metals by 5.5% in the 4th quarter. FIL Ltd now owns 10,646,479 shares of the company’s stock worth $525,235,000 after buying an additional 550,804 shares during the period. Finally, Norges Bank purchased a new stake in Wheaton Precious Metals in the 4th quarter worth approximately $387,481,000. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on WPM. TD Securities dropped their price objective on Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Bank of America increased their price objective on Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Berenberg Bank increased their price objective on Wheaton Precious Metals from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. BMO Capital Markets increased their price objective on Wheaton Precious Metals from $59.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Finally, Scotiabank increased their price objective on Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $67.50.

Wheaton Precious Metals Stock Down 0.5 %

WPM stock opened at $62.25 on Tuesday. Wheaton Precious Metals Corp. has a twelve month low of $38.37 and a twelve month high of $63.13. The firm has a market cap of $28.24 billion, a PE ratio of 47.88, a price-to-earnings-growth ratio of 2.26 and a beta of 0.78. The business has a 50 day moving average of $59.31 and a 200 day moving average of $54.17.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The company had revenue of $299.06 million during the quarter, compared to analyst estimates of $309.54 million. During the same quarter last year, the company earned $0.31 EPS. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. On average, research analysts expect that Wheaton Precious Metals Corp. will post 1.4 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Wednesday, August 21st. Wheaton Precious Metals’s payout ratio is 47.69%.

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.