Massachusetts Financial Services Co. MA Sells 136,509 Shares of Wheaton Precious Metals Corp. $WPM

Massachusetts Financial Services Co. MA trimmed its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 2.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 6,796,854 shares of the company’s stock after selling 136,509 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Wheaton Precious Metals were worth $760,160,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC raised its holdings in Wheaton Precious Metals by 35.9% in the third quarter. Sequoia Financial Advisors LLC now owns 10,616 shares of the company’s stock worth $1,187,000 after purchasing an additional 2,803 shares in the last quarter. Maryland State Retirement & Pension System grew its position in shares of Wheaton Precious Metals by 11.6% in the 3rd quarter. Maryland State Retirement & Pension System now owns 47,720 shares of the company’s stock worth $5,339,000 after buying an additional 4,966 shares during the last quarter. Evergreen Capital Management LLC raised its stake in shares of Wheaton Precious Metals by 4.9% during the 3rd quarter. Evergreen Capital Management LLC now owns 9,887 shares of the company’s stock worth $1,106,000 after acquiring an additional 461 shares in the last quarter. ASR Vermogensbeheer N.V. lifted its position in Wheaton Precious Metals by 46.3% during the third quarter. ASR Vermogensbeheer N.V. now owns 33,395 shares of the company’s stock valued at $3,738,000 after acquiring an additional 10,574 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its stake in Wheaton Precious Metals by 42.6% in the third quarter. Ritholtz Wealth Management now owns 5,245 shares of the company’s stock valued at $587,000 after acquiring an additional 1,567 shares in the last quarter. Institutional investors own 70.34% of the company’s stock.

Analysts Set New Price Targets

WPM has been the topic of a number of recent analyst reports. UBS Group upped their price target on Wheaton Precious Metals from $116.00 to $118.00 and gave the stock a “neutral” rating in a research report on Monday, December 1st. Raymond James Financial increased their price target on Wheaton Precious Metals from $114.00 to $127.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. Wall Street Zen raised Wheaton Precious Metals from a “hold” rating to a “buy” rating in a report on Sunday. Scotiabank restated an “outperform” rating on shares of Wheaton Precious Metals in a report on Thursday, October 23rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wheaton Precious Metals in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $130.78.

Wheaton Precious Metals Stock Down 0.0%

Shares of NYSE WPM opened at $135.46 on Friday. Wheaton Precious Metals Corp. has a 52 week low of $56.70 and a 52 week high of $135.72. The business’s 50 day moving average price is $114.55 and its 200 day moving average price is $104.56. The firm has a market cap of $61.50 billion, a P/E ratio of 61.57, a P/E/G ratio of 1.31 and a beta of 0.52.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.59 by $0.03. The business had revenue of $476.26 million during the quarter, compared to analysts’ expectations of $495.53 million. Wheaton Precious Metals had a net margin of 54.72% and a return on equity of 13.32%. The business’s quarterly revenue was up 54.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.34 EPS. As a group, research analysts expect that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, November 20th were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, November 20th. Wheaton Precious Metals’s payout ratio is 30.00%.

Wheaton Precious Metals Profile

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.