Citigroup Inc. Buys 51,635 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Citigroup Inc. raised its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 10.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 550,642 shares of the company’s stock after purchasing an additional 51,635 shares during the quarter. Citigroup Inc. owned 0.12% of Wheaton Precious Metals worth $33,667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. AdvisorNet Financial Inc raised its holdings in shares of Wheaton Precious Metals by 6.1% during the 2nd quarter. AdvisorNet Financial Inc now owns 3,330 shares of the company’s stock valued at $175,000 after buying an additional 190 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Wheaton Precious Metals by 1.0% during the third quarter. Principal Financial Group Inc. now owns 19,761 shares of the company’s stock worth $1,208,000 after acquiring an additional 196 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in shares of Wheaton Precious Metals by 0.6% in the 3rd 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. Arkadios Wealth Advisors boosted its stake in shares of Wheaton Precious Metals by 1.0% in the 3rd 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 in the last quarter. Finally, Western Pacific Wealth Management LP grew its holdings in shares of Wheaton Precious Metals by 13.9% during the 3rd quarter. Western Pacific Wealth Management LP now owns 1,732 shares of the company’s stock valued at $106,000 after purchasing an additional 212 shares during the last quarter. Institutional investors own 70.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. TD Securities upped their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, November 8th. National Bank Financial upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Raymond James lifted their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Jefferies Financial Group increased their price objective on Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Finally, UBS Group began coverage on shares of Wheaton Precious Metals in a research note on Monday, November 18th. They issued a “buy” rating and a $78.00 target price on the stock. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $71.67.

Wheaton Precious Metals Trading Down 4.5 %

Shares of Wheaton Precious Metals stock opened at $60.94 on Tuesday. 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 cap of $27.65 billion, a P/E ratio of 45.48, a PEG ratio of 2.33 and a beta of 0.77. The company’s fifty day simple moving average is $63.01 and its two-hundred day simple moving average is $59.20.

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

Wheaton Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Thursday, November 21st will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Thursday, November 21st. Wheaton Precious Metals’s payout ratio is presently 46.27%.

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.