Massachusetts Financial Services Co. MA Decreases Holdings in Wheaton Precious Metals Corp. $WPM

Massachusetts Financial Services Co. MA trimmed its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 1.6% in the second quarter, HoldingsChannel reports. The fund owned 6,933,363 shares of the company’s stock after selling 114,408 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Wheaton Precious Metals were worth $622,616,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Canada Pension Plan Investment Board lifted its position in Wheaton Precious Metals by 57.6% in the first quarter. Canada Pension Plan Investment Board now owns 2,097,735 shares of the company’s stock valued at $162,811,000 after purchasing an additional 766,947 shares during the last quarter. Amundi raised its position in shares of Wheaton Precious Metals by 33.2% in the 1st quarter. Amundi now owns 2,745,947 shares of the company’s stock worth $215,557,000 after acquiring an additional 683,674 shares in the last quarter. Geode Capital Management LLC lifted its position in Wheaton Precious Metals by 20.5% during the second quarter. Geode Capital Management LLC now owns 3,653,717 shares of the company’s stock valued at $332,793,000 after buying an additional 622,003 shares during the period. Bank of Montreal Can lifted its position in Wheaton Precious Metals by 10.3% during the 2nd quarter. Bank of Montreal Can now owns 5,120,087 shares of the company’s stock valued at $460,736,000 after acquiring an additional 478,236 shares during the period. Finally, Nuveen LLC bought a new position in shares of Wheaton Precious Metals during the first quarter valued at approximately $36,885,000. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Price Performance

WPM stock opened at $104.15 on Friday. Wheaton Precious Metals Corp. has a 1-year low of $55.47 and a 1-year high of $114.36. The stock has a market capitalization of $47.29 billion, a P/E ratio of 60.20, a P/E/G ratio of 1.67 and a beta of 0.38. The business has a fifty day moving average price of $104.27 and a 200-day moving average price of $95.41.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, November 6th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. The business had revenue of $476.26 million during the quarter, compared to analyst estimates of $495.53 million. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.Wheaton Precious Metals’s revenue was up 54.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.34 EPS. As a group, analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, November 20th will be given a dividend of $0.165 per share. The ex-dividend date is Thursday, November 20th. This represents a $0.66 dividend on an annualized basis and a yield of 0.6%. Wheaton Precious Metals’s dividend payout ratio is 30.00%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on WPM shares. Wall Street Zen raised Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research report on Monday, September 8th. Raymond James Financial boosted their target price on Wheaton Precious Metals from $114.00 to $127.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Berenberg Bank raised their price target on Wheaton Precious Metals from $102.00 to $108.00 and gave the company a “buy” rating in a report on Friday, September 12th. Scotiabank reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research note on Thursday, October 23rd. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Wheaton Precious Metals in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $124.50.

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 2017. Wheaton Precious Metals Corp.