Stifel Canada Has Optimistic Outlook of WPM FY2024 Earnings

Wheaton Precious Metals Corp. (NYSE:WPM) – Stifel Canada boosted their FY2024 earnings per share (EPS) estimates for Wheaton Precious Metals in a research report issued to clients and investors on Monday, October 21st. Stifel Canada analyst I. Rico now expects that the company will post earnings per share of $1.43 for the year, up from their previous forecast of $1.42. Stifel Canada has a “Hold” rating on the stock. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.44 per share.

WPM has been the topic of several other reports. Scotiabank raised their price objective on Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. CIBC lifted their price target on Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. National Bank Financial raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Jefferies Financial Group lifted their price target on Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Finally, TD Securities lowered their price target on 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 investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $69.88.

Wheaton Precious Metals Trading Down 1.6 %

Shares of WPM opened at $67.45 on Wednesday. Wheaton Precious Metals has a 12 month low of $38.57 and a 12 month high of $68.64. The stock’s 50 day moving average is $61.69 and its two-hundred day moving average is $57.44. The firm has a market cap of $30.60 billion, a P/E ratio of 53.53, a PEG ratio of 2.45 and a beta of 0.78.

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

Hedge Funds Weigh In On Wheaton Precious Metals

Several large investors have recently modified their holdings of WPM. TD Asset Management Inc lifted its stake in shares of Wheaton Precious Metals by 71.2% in the 1st quarter. TD Asset Management Inc now owns 4,857,837 shares of the company’s stock valued at $229,026,000 after purchasing an additional 2,019,722 shares during the last quarter. AMF Tjanstepension AB lifted its stake in shares of Wheaton Precious Metals by 593.5% in the 2nd quarter. AMF Tjanstepension AB now owns 1,608,134 shares of the company’s stock valued at $84,388,000 after purchasing an additional 1,376,231 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Wheaton Precious Metals by 31.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,672,800 shares of the company’s stock valued at $272,975,000 after purchasing an additional 1,342,264 shares during the last quarter. Barings LLC acquired a new position in shares of Wheaton Precious Metals in the 2nd quarter valued at $65,405,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Wheaton Precious Metals by 16.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,309,175 shares of the company’s stock valued at $344,483,000 after purchasing an additional 1,010,307 shares during the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Dividend Announcement

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

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.