Raymond James Issues Optimistic Estimate for WPM Earnings

Wheaton Precious Metals Corp. (NYSE:WPM) – Analysts at Raymond James boosted their FY2024 EPS estimates for Wheaton Precious Metals in a note issued to investors on Thursday, January 30th. Raymond James analyst B. Macarthur now anticipates that the company will post earnings per share of $1.43 for the year, up from their previous forecast of $1.37. Raymond James currently has a “Outperform” rating and a $75.00 target price on the stock. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.46 per share. Raymond James also issued estimates for Wheaton Precious Metals’ Q4 2024 earnings at $0.45 EPS, Q1 2025 earnings at $0.42 EPS, Q2 2025 earnings at $0.44 EPS, Q3 2025 earnings at $0.44 EPS, Q4 2025 earnings at $0.45 EPS and FY2025 earnings at $1.75 EPS.

A number of other equities analysts also recently commented on the company. Stifel Canada downgraded Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. National Bank Financial raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. UBS Group started coverage on Wheaton Precious Metals in a research note on Monday, November 18th. They issued a “buy” rating and a $78.00 price objective on the stock. Finally, TD Securities lifted 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. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.67.

Wheaton Precious Metals Trading Up 0.7 %

Shares of NYSE:WPM opened at $64.02 on Monday. The business has a fifty day simple moving average of $59.39 and a 200 day simple moving average of $60.67. Wheaton Precious Metals has a 1 year low of $38.57 and a 1 year high of $68.64. The firm has a market cap of $29.04 billion, a price-to-earnings ratio of 47.77, a P/E/G ratio of 1.61 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.34. The business had revenue of $308.25 million during the quarter, compared to analyst estimates of $324.57 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. During the same period in the prior year, the firm earned $0.27 earnings per share.

Wheaton Precious Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Thursday, November 21st were given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend was Thursday, November 21st. Wheaton Precious Metals’s dividend payout ratio is currently 46.27%.

Institutional Investors Weigh In On Wheaton Precious Metals

A number of institutional investors have recently bought and sold shares of WPM. Versant Capital Management Inc acquired a new position in Wheaton Precious Metals in the fourth quarter worth $29,000. Laurel Wealth Advisors LLC acquired a new position in shares of Wheaton Precious Metals in the 4th quarter valued at approximately $39,000. GAMMA Investing LLC acquired a new stake in shares of Wheaton Precious Metals in the 4th quarter valued at about $41,000. St. Johns Investment Management Company LLC bought a new stake in shares of Wheaton Precious Metals in the third quarter worth $48,000. Finally, Kestra Investment Management LLC bought a new position in Wheaton Precious Metals in the fourth quarter valued at approximately $53,000. Institutional investors and hedge funds own 70.34% of the company’s stock.

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.