Brokers Offer Predictions for WPM FY2024 Earnings

Wheaton Precious Metals Corp. (NYSE:WPM) – Investment analysts at National Bank Financial lifted their FY2024 earnings per share (EPS) estimates for shares of Wheaton Precious Metals in a report released on Tuesday, October 22nd. National Bank Financial analyst S. Nagle now anticipates that the company will post earnings per share of $1.47 for the year, up from their previous estimate of $1.46. National Bank Financial has a “Outperform” rating on the stock. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.45 per share.

A number of other equities research analysts have also recently commented on WPM. Stifel Canada cut Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday. Bank of America raised their price target on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Scotiabank raised their price target on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Jefferies Financial Group raised their price target 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, TD Securities decreased their target price on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.88.

Wheaton Precious Metals Stock Down 1.6 %

NYSE:WPM opened at $67.45 on Thursday. Wheaton Precious Metals has a 52 week low of $38.57 and a 52 week high of $68.64. The stock has a market capitalization of $30.60 billion, a PE ratio of 53.53, a price-to-earnings-growth ratio of 2.48 and a beta of 0.78. The stock’s 50-day moving average price is $61.69 and its 200-day moving average price is $57.44.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.04. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The company had revenue of $299.06 million for the quarter, compared to the consensus estimate of $309.54 million. During the same period last year, the firm earned $0.31 EPS. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year.

Wheaton Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were issued a $0.155 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.62 annualized dividend and a yield of 0.92%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 49.21%.

Hedge Funds Weigh In On Wheaton Precious Metals

Several institutional investors have recently modified their holdings of the business. First Eagle Investment Management LLC grew its stake in shares of Wheaton Precious Metals by 1.4% in the first quarter. First Eagle Investment Management LLC now owns 21,403,409 shares of the company’s stock worth $1,008,743,000 after acquiring an additional 292,968 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Wheaton Precious Metals by 1.0% in the second quarter. Van ECK Associates Corp now owns 19,984,984 shares of the company’s stock worth $1,047,621,000 after acquiring an additional 197,426 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Wheaton Precious Metals by 1.7% in the first quarter. Vanguard Group Inc. now owns 16,770,475 shares of the company’s stock worth $790,392,000 after acquiring an additional 272,918 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Wheaton Precious Metals by 16.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,309,175 shares of the company’s stock worth $344,483,000 after acquiring an additional 1,010,307 shares in the last quarter. Finally, TD Asset Management Inc lifted its position in shares of Wheaton Precious Metals by 22.5% during the 2nd quarter. TD Asset Management Inc now owns 5,950,317 shares of the company’s stock worth $311,920,000 after purchasing an additional 1,092,480 shares during the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

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.