Raymond James Issues Optimistic Forecast for WPM Earnings

Wheaton Precious Metals Corp. (NYSE:WPM) – Research analysts at Raymond James upped their FY2024 earnings per share estimates for Wheaton Precious Metals in a report released on Thursday, January 30th. Raymond James analyst B. Macarthur now anticipates that the company will earn $1.43 per share for the year, up from their previous forecast of $1.37. Raymond James has a “Outperform” rating and a $75.00 price objective on the stock. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.45 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.

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

WPM has been the subject of several other reports. Stifel Canada downgraded Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. UBS Group initiated coverage on Wheaton Precious Metals in a research report on Monday, November 18th. They set a “buy” rating and a $78.00 price target for the company. National Bank Financial raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Finally, TD Securities upped their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $71.67.

Wheaton Precious Metals Stock Down 1.1 %

Wheaton Precious Metals stock opened at $62.40 on Monday. The firm has a 50-day moving average price of $59.30 and a two-hundred day moving average price of $60.63. Wheaton Precious Metals has a 52-week low of $38.57 and a 52-week high of $68.64. The firm has a market capitalization of $28.31 billion, a price-to-earnings ratio of 46.57, a PEG ratio of 1.54 and a beta of 0.76.

Institutional Investors Weigh In On Wheaton Precious Metals

Several institutional investors and hedge funds have recently added to or reduced their stakes in WPM. Van ECK Associates Corp boosted its holdings in shares of Wheaton Precious Metals by 6.4% during the 4th quarter. Van ECK Associates Corp now owns 20,534,104 shares of the company’s stock worth $1,154,843,000 after buying an additional 1,231,999 shares during the period. FMR LLC lifted its position in Wheaton Precious Metals by 33.7% during the 3rd quarter. FMR LLC now owns 14,665,913 shares of the company’s stock worth $895,723,000 after acquiring an additional 3,692,594 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Wheaton Precious Metals by 22.5% during the third quarter. The Manufacturers Life Insurance Company now owns 3,456,230 shares of the company’s stock valued at $211,207,000 after acquiring an additional 634,843 shares during the period. National Bank of Canada FI grew its position in shares of Wheaton Precious Metals by 21.3% in the third quarter. National Bank of Canada FI now owns 2,923,402 shares of the company’s stock valued at $178,551,000 after purchasing an additional 513,890 shares during the last quarter. Finally, CIBC Asset Management Inc grew its position in shares of Wheaton Precious Metals by 11.8% in the fourth quarter. CIBC Asset Management Inc now owns 2,541,133 shares of the company’s stock valued at $144,356,000 after purchasing an additional 267,973 shares during the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Thursday, November 21st were issued a dividend of $0.155 per share. The ex-dividend date was Thursday, November 21st. This represents a $0.62 annualized dividend and a yield of 0.99%. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 46.27%.

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.