Wheaton Precious Metals Corp. $WPM Shares Sold by Massachusetts Financial Services Co. MA

Key Points

• Massachusetts Financial Services Co. lowered its stake in Wheaton Precious Metals by 2.7% in Q4, selling 182,080 shares and now owns 6,614,774 shares (~1.46%) valued at $777.37 million.
• Wheaton beat earnings and revenue expectations for the quarter, reporting $1.22 EPS vs. $0.91 expected and $864.71 million in revenue vs. $719.59 million expected, with revenue up 127.3% year‑over‑year.
• The company raised its quarterly dividend to $0.195 (from $0.17), and analysts maintain a consensus "Moderate Buy" rating with an average price target of $155.45 (13 Buys, 1 Hold).

Massachusetts Financial Services Co. MA lowered its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,614,774 shares of the company's stock after selling 182,080 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.46% of Wheaton Precious Metals worth $777,368,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Focus Financial Network Inc. grew its position in shares of Wheaton Precious Metals by 2.5% during the fourth quarter. Focus Financial Network Inc. now owns 3,305 shares of the company's stock worth $388,000 after buying an additional 81 shares in the last quarter. Jamison Private Wealth Management Inc. grew its position in shares of Wheaton Precious Metals by 1.7% during the fourth quarter. Jamison Private Wealth Management Inc. now owns 5,375 shares of the company's stock worth $632,000 after buying an additional 92 shares in the last quarter. Capital Investment Advisors LLC grew its position in shares of Wheaton Precious Metals by 3.9% during the fourth quarter. Capital Investment Advisors LLC now owns 2,460 shares of the company's stock worth $289,000 after buying an additional 93 shares in the last quarter. Pacifica Partners Inc. grew its position in shares of Wheaton Precious Metals by 27.8% during the third quarter. Pacifica Partners Inc. now owns 460 shares of the company's stock worth $51,000 after buying an additional 100 shares in the last quarter. Finally, Capital Advisors Inc. OK grew its position in shares of Wheaton Precious Metals by 1.9% during the fourth quarter. Capital Advisors Inc. OK now owns 5,437 shares of the company's stock worth $639,000 after buying an additional 101 shares in the last quarter. Institutional investors and hedge funds own 70.34% of the company's stock.

Wheaton Precious Metals Stock Performance

WPM stock opened at $144.76 on Friday. The stock has a market capitalization of $65.73 billion, a price-to-earnings ratio of 44.68, a PEG ratio of 3.21 and a beta of 0.60. Wheaton Precious Metals Corp. has a 1 year low of $75.42 and a 1 year high of $165.76. The stock's fifty day moving average is $140.53 and its two-hundred day moving average is $123.04.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its earnings results on Thursday, March 12th. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.91 by $0.31. The company had revenue of $864.71 million for the quarter, compared to analysts' expectations of $719.59 million. Wheaton Precious Metals had a return on equity of 17.17% and a net margin of 63.58%.The firm's quarterly revenue was up 127.3% compared to the same quarter last year. During the same period last year, the business posted $0.44 earnings per share. As a group, analysts predict that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Tuesday, March 31st were paid a $0.195 dividend. The ex-dividend date was Tuesday, March 31st. This is a positive change from Wheaton Precious Metals's previous quarterly dividend of $0.17. This represents a $0.78 dividend on an annualized basis and a yield of 0.5%. Wheaton Precious Metals's dividend payout ratio (DPR) is 24.07%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Wheaton Precious Metals in a research report on Wednesday, February 4th. Scotiabank lifted their price objective on shares of Wheaton Precious Metals from $175.00 to $178.00 and gave the stock a "sector outperform" rating in a report on Monday, March 16th. TD Cowen lifted their price objective on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a "buy" rating in a report on Monday, March 16th. TD Securities lifted their price objective on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a "buy" rating in a report on Monday, March 16th. Finally, Wall Street Zen downgraded shares of Wheaton Precious Metals from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 28th. Thirteen research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $155.45.

About Wheaton Precious Metals

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.

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