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

Citigroup Inc. increased its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 10.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 550,642 shares of the company's stock after buying an additional 51,635 shares during the period. Citigroup Inc. owned about 0.12% of Wheaton Precious Metals worth $33,667,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in WPM. Charles Schwab Investment Management Inc. increased its stake in shares of Wheaton Precious Metals by 4.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 955,540 shares of the company's stock worth $58,422,000 after purchasing an additional 36,970 shares in the last quarter. King Luther Capital Management Corp increased its stake in shares of Wheaton Precious Metals by 48.1% in the third quarter. King Luther Capital Management Corp now owns 1,501,037 shares of the company's stock worth $91,683,000 after purchasing an additional 487,190 shares in the last quarter. MTM Investment Management LLC purchased a new position in shares of Wheaton Precious Metals in the third quarter worth about $202,000. Ontario Teachers Pension Plan Board purchased a new position in shares of Wheaton Precious Metals in the third quarter worth about $212,000. Finally, First Horizon Advisors Inc. purchased a new position in shares of Wheaton Precious Metals in the third quarter worth about $67,000. Hedge funds and other institutional investors own 70.34% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on WPM shares. TD Securities lifted their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Scotiabank lifted their target price on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a "sector outperform" rating in a research note on Monday, August 19th. National Bank Financial raised shares of Wheaton Precious Metals from a "sector perform" rating to an "outperform" rating in a research note on Thursday, October 10th. Jefferies Financial Group boosted 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 note on Friday, October 4th. Finally, UBS Group assumed coverage on shares of Wheaton Precious Metals in a research note on Monday, November 18th. They set a "buy" rating and a $78.00 price objective for the company. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Wheaton Precious Metals has a consensus rating of "Moderate Buy" and a consensus price target of $71.67.

Wheaton Precious Metals Stock Performance

Wheaton Precious Metals stock traded up $1.12 during mid-day trading on Tuesday, hitting $62.06. 1,664,125 shares of the company traded hands, compared to its average volume of 1,795,521. Wheaton Precious Metals Corp. has a one year low of $38.57 and a one year high of $68.64. The stock has a market cap of $28.15 billion, a price-to-earnings ratio of 45.81, a price-to-earnings-growth ratio of 2.33 and a beta of 0.77. The stock has a fifty day moving average price of $62.99 and a 200-day moving average price of $59.24.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its 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 business had revenue of $308.25 million during the quarter, compared to analyst estimates of $324.57 million. During the same period in the previous year, the business posted $0.27 earnings per share. Sell-side analysts predict that Wheaton Precious Metals Corp. will post 1.44 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Thursday, November 21st will be issued a $0.155 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.00%. Wheaton Precious Metals's payout ratio is 46.27%.

Wheaton Precious Metals Company 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.