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

Massachusetts Financial Services Co. MA decreased its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 4.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,231,391 shares of the company’s stock after selling 314,981 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Wheaton Precious Metals were worth $441,693,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in WPM. Ridgewood Investments LLC purchased a new position in Wheaton Precious Metals during the 2nd quarter valued at about $31,000. Abich Financial Wealth Management LLC purchased a new position in shares of Wheaton Precious Metals in the 2nd quarter worth $31,000. St. Johns Investment Management Company LLC purchased a new stake in Wheaton Precious Metals during the third quarter valued at approximately $48,000. Sunbelt Securities Inc. bought a new position in shares of Wheaton Precious Metals in the second quarter worth about $47,000. Finally, First Horizon Advisors Inc. purchased a new stake in Wheaton Precious Metals in the 3rd quarter worth $67,000. 70.34% of the stock is currently owned by institutional investors.

Wheaton Precious Metals Trading Up 0.9 %

Shares of NYSE:WPM opened at $63.40 on Friday. The business has a 50-day moving average price of $62.99 and a 200 day moving average price of $59.06. Wheaton Precious Metals Corp. has a 12-month low of $38.57 and a 12-month high of $68.64. The company has a market capitalization of $28.76 billion, a price-to-earnings ratio of 47.31, a PEG ratio of 2.28 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Friday, November 8th. The company reported $0.34 EPS for the quarter, meeting analysts’ consensus estimates of $0.34. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The company had revenue of $308.25 million during the quarter, compared to analysts’ expectations of $324.57 million. During the same period last year, the business posted $0.27 EPS. As a group, equities research analysts predict that Wheaton Precious Metals Corp. will post 1.44 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business 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 $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend is Thursday, November 21st. Wheaton Precious Metals’s dividend payout ratio is currently 46.27%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on WPM shares. Raymond James boosted their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. National Bank Financial raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Jefferies Financial Group increased their price objective on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, October 4th. UBS Group assumed coverage on shares of Wheaton Precious Metals in a report on Monday. They issued a “buy” rating and a $78.00 price target on the stock. Finally, TD Securities increased their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $71.67.

Wheaton Precious Metals 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.