Massmutual Trust Co. FSB ADV Increases Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Massmutual Trust Co. FSB ADV raised its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 25.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,231 shares of the company’s stock after buying an additional 253 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Wheaton Precious Metals were worth $65,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of WPM. Principal Securities Inc. purchased a new position in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $39,000. Fifth Third Bancorp raised its stake in shares of Wheaton Precious Metals by 230.7% during the fourth quarter. Fifth Third Bancorp now owns 863 shares of the company’s stock valued at $43,000 after acquiring an additional 602 shares in the last quarter. St. Johns Investment Management Company LLC bought a new stake in shares of Wheaton Precious Metals during the first quarter valued at approximately $52,000. Western Pacific Wealth Management LP raised its stake in shares of Wheaton Precious Metals by 47.6% during the fourth quarter. Western Pacific Wealth Management LP now owns 1,113 shares of the company’s stock valued at $55,000 after acquiring an additional 359 shares in the last quarter. Finally, Hexagon Capital Partners LLC raised its stake in shares of Wheaton Precious Metals by 30.8% during the fourth quarter. Hexagon Capital Partners LLC now owns 1,159 shares of the company’s stock valued at $57,000 after acquiring an additional 273 shares in the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on WPM. Scotiabank lifted their price target on shares of Wheaton Precious Metals from $59.00 to $66.50 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. BMO Capital Markets lifted their price target on shares of Wheaton Precious Metals from $59.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Jefferies Financial Group lifted their price objective on Wheaton Precious Metals from $62.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, July 12th. CIBC lifted their price objective on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Finally, Berenberg Bank lifted their price objective on shares of Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $65.00.

Wheaton Precious Metals Price Performance

WPM traded down $1.10 on Tuesday, reaching $55.01. 2,407,389 shares of the company’s stock were exchanged, compared to its average volume of 1,844,085. The stock has a market cap of $24.95 billion, a PE ratio of 43.17, a P/E/G ratio of 2.15 and a beta of 0.76. Wheaton Precious Metals Corp. has a twelve month low of $38.37 and a twelve month high of $63.06. The stock’s fifty day moving average price is $56.01 and its 200-day moving average price is $51.14.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Thursday, May 9th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.07. The company had revenue of $296.80 million for the quarter, compared to analyst estimates of $278.95 million. Wheaton Precious Metals had a net margin of 53.74% and a return on equity of 8.53%. Wheaton Precious Metals’s revenue was up 38.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.23 EPS. As a group, research analysts predict that Wheaton Precious Metals Corp. will post 1.38 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 29th were paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date was Wednesday, May 29th. Wheaton Precious Metals’s dividend payout ratio (DPR) is 47.69%.

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.