Massachusetts Financial Services Co. MA Sells 314,981 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Massachusetts Financial Services Co. MA cut its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 4.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,231,391 shares of the company’s stock after selling 314,981 shares during the period. Massachusetts Financial Services Co. MA owned about 1.59% of Wheaton Precious Metals worth $441,693,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of WPM. AdvisorNet Financial Inc lifted its position in shares of Wheaton Precious Metals by 6.1% in the second quarter. AdvisorNet Financial Inc now owns 3,330 shares of the company’s stock valued at $175,000 after buying an additional 190 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Wheaton Precious Metals by 1.0% in the 3rd quarter. Principal Financial Group Inc. now owns 19,761 shares of the company’s stock valued at $1,208,000 after acquiring an additional 196 shares during the period. Vontobel Holding Ltd. lifted its position in Wheaton Precious Metals by 0.6% during the third quarter. Vontobel Holding Ltd. now owns 34,558 shares of the company’s stock worth $2,110,000 after acquiring an additional 197 shares during the last quarter. Capital International Inc. CA boosted its holdings in shares of Wheaton Precious Metals by 2.5% during the first quarter. Capital International Inc. CA now owns 8,308 shares of the company’s stock worth $392,000 after acquiring an additional 204 shares during the period. Finally, Arkadios Wealth Advisors grew its position in shares of Wheaton Precious Metals by 1.0% in the third quarter. Arkadios Wealth Advisors now owns 21,575 shares of the company’s stock valued at $1,318,000 after purchasing an additional 210 shares during the last quarter. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Price Performance

Shares of WPM opened at $63.40 on Friday. The firm has a 50 day simple moving average of $62.99 and a two-hundred day simple moving average of $59.06. The company has a market cap of $28.76 billion, a P/E ratio of 47.31, a P/E/G ratio of 2.28 and a beta of 0.77. Wheaton Precious Metals Corp. has a one year low of $38.57 and a one year high of $68.64.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Friday, November 8th. The company reported $0.34 EPS for the quarter, hitting analysts’ consensus estimates of $0.34. The company had revenue of $308.25 million during the quarter, compared to analysts’ expectations of $324.57 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. During the same quarter in the previous year, the firm earned $0.27 EPS. On average, analysts expect that Wheaton Precious Metals Corp. will post 1.44 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.155 per share. The ex-dividend date is Thursday, November 21st. This represents a $0.62 dividend on an annualized basis and a yield of 0.98%. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 46.27%.

Wall Street Analyst Weigh In

WPM has been the subject of several research reports. TD Securities lifted their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Stifel Canada downgraded shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Raymond James lifted their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Scotiabank increased their target price on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Finally, Jefferies Financial Group raised their target price on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, October 4th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $71.67.

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.