Wheaton Precious Metals (TSE:WPM) Cut to “Hold” at Stifel Canada

Stifel Canada cut shares of Wheaton Precious Metals (TSE:WPM) from a strong-buy rating to a hold rating in a research report sent to investors on Monday, Zacks.com reports. Stifel Canada also issued estimates for Wheaton Precious Metals’ FY2024 earnings at $1.97 EPS.

Several other equities analysts have also recently weighed in on the company. Peel Hunt lifted their price objective on Wheaton Precious Metals from C$82.00 to C$95.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Eight Capital lifted their price objective on Wheaton Precious Metals from C$95.00 to C$100.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Stifel Nicolaus lifted their price objective on Wheaton Precious Metals from C$90.00 to C$102.00 in a report on Monday. National Bank Financial upgraded Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, National Bankshares upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from C$90.00 to C$105.00 in a report on Thursday, October 10th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of C$97.67.

Wheaton Precious Metals Stock Down 1.5 %

Wheaton Precious Metals stock opened at C$93.33 on Monday. The business’s 50-day simple moving average is C$83.92 and its 200 day simple moving average is C$78.53. The stock has a market cap of C$42.34 billion, a price-to-earnings ratio of 53.95 and a beta of 0.70. Wheaton Precious Metals has a 12-month low of C$52.15 and a 12-month high of C$94.84.

Wheaton Precious Metals (TSE:WPM) last posted its quarterly earnings results on Wednesday, August 7th. The company reported C$0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.39 by C$0.06. The business had revenue of C$409.19 million for the quarter, compared to analysts’ expectations of C$400.03 million. Wheaton Precious Metals had a return on equity of 8.16% and a net margin of 50.44%. As a group, sell-side analysts expect that Wheaton Precious Metals will post 2.4749013 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were paid a $0.214 dividend. This represents a $0.86 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 presently 48.55%.

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.