Q3 2024 Earnings Forecast for Wheaton Precious Metals Corp. (NYSE:WPM) Issued By Raymond James

Wheaton Precious Metals Corp. (NYSE:WPM) – Equities researchers at Raymond James lifted their Q3 2024 earnings estimates for Wheaton Precious Metals in a research note issued to investors on Monday, September 23rd. Raymond James analyst B. Macarthur now anticipates that the company will earn $0.40 per share for the quarter, up from their previous forecast of $0.37. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.41 per share. Raymond James also issued estimates for Wheaton Precious Metals’ FY2024 earnings at $1.44 EPS, Q1 2025 earnings at $0.44 EPS, Q2 2025 earnings at $0.46 EPS, Q3 2025 earnings at $0.48 EPS and Q4 2025 earnings at $0.50 EPS.

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

Several other equities analysts have also recently weighed in on WPM. TD Securities cut their price objective on Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Scotiabank upped 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 report on Monday, August 19th. Jefferies Financial Group raised their price objective on shares of Wheaton Precious Metals from $62.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, July 12th. CIBC upped their target price on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Finally, Bank of America lifted their price target on Wheaton Precious Metals from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Wheaton Precious Metals currently has an average rating of “Moderate Buy” and a consensus target price of $67.50.

Wheaton Precious Metals Stock Up 2.0 %

Shares of WPM stock opened at $63.48 on Wednesday. The firm has a market capitalization of $28.80 billion, a price-to-earnings ratio of 48.83, a price-to-earnings-growth ratio of 2.27 and a beta of 0.78. Wheaton Precious Metals has a 12-month low of $38.37 and a 12-month high of $64.27. The firm has a fifty day moving average of $59.81 and a 200-day moving average of $55.11.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were given a $0.155 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.98%. Wheaton Precious Metals’s payout ratio is presently 47.69%.

Hedge Funds Weigh In On Wheaton Precious Metals

Institutional investors and hedge funds have recently modified their holdings of the business. Sanctuary Advisors LLC acquired a new position in shares of Wheaton Precious Metals during the 2nd quarter worth approximately $713,000. Clearbridge Investments LLC increased its stake in Wheaton Precious Metals by 90.5% during the 2nd quarter. Clearbridge Investments LLC now owns 1,344,131 shares of the company’s stock worth $70,461,000 after acquiring an additional 638,425 shares during the period. Cetera Investment Advisers increased its stake in Wheaton Precious Metals by 1.1% during the 2nd quarter. Cetera Investment Advisers now owns 37,659 shares of the company’s stock worth $1,974,000 after acquiring an additional 409 shares during the period. Sunbelt Securities Inc. acquired a new position in Wheaton Precious Metals in the 2nd quarter valued at $47,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Wheaton Precious Metals by 5.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 21,207 shares of the company’s stock valued at $1,112,000 after acquiring an additional 1,158 shares during the period. 70.34% of the stock is currently owned by institutional investors and hedge funds.

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.