Zacks Research Weighs in on Wheaton Precious Metals Corp.’s Q3 2024 Earnings (NYSE:WPM)

Wheaton Precious Metals Corp. (NYSE:WPM) – Stock analysts at Zacks Research boosted their Q3 2024 EPS estimates for Wheaton Precious Metals in a research report issued on Wednesday, October 9th. Zacks Research analyst M. Das now forecasts that the company will post earnings per share of $0.36 for the quarter, up from their previous forecast of $0.34. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.43 per share. Zacks Research also issued estimates for Wheaton Precious Metals’ Q4 2024 earnings at $0.37 EPS, FY2024 earnings at $1.41 EPS, Q1 2025 earnings at $0.38 EPS, Q2 2025 earnings at $0.40 EPS, Q3 2025 earnings at $0.39 EPS, Q4 2025 earnings at $0.39 EPS, FY2025 earnings at $1.55 EPS, Q1 2026 earnings at $0.40 EPS, Q2 2026 earnings at $0.41 EPS, Q3 2026 earnings at $0.38 EPS and FY2026 earnings at $1.60 EPS.

Wheaton Precious Metals (NYSE:WPM) last released 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. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. The company had revenue of $299.06 million during the quarter, compared to the consensus estimate of $309.54 million. During the same quarter in the prior year, the firm earned $0.31 EPS. The company’s revenue was up 12.9% compared to the same quarter last year.

A number of other equities analysts also recently commented on WPM. CIBC raised their price objective on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Scotiabank lifted their price target on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Bank of America boosted their price objective on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Raymond James lifted their price target on shares of Wheaton Precious Metals from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, September 25th. Finally, TD Securities cut their price target on shares of 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. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $69.88.

Wheaton Precious Metals Trading Down 0.4 %

NYSE:WPM opened at $60.71 on Monday. Wheaton Precious Metals has a 1 year low of $38.57 and a 1 year high of $64.82. The firm’s fifty day simple moving average is $60.27 and its 200 day simple moving average is $56.61. The firm has a market capitalization of $27.54 billion, a PE ratio of 48.18, a PEG ratio of 2.20 and a beta of 0.78.

Institutional Investors Weigh In On Wheaton Precious Metals

Several hedge funds have recently added to or reduced their stakes in WPM. AdvisorNet Financial Inc raised its holdings in Wheaton Precious Metals by 6.1% during the 2nd quarter. AdvisorNet Financial Inc now owns 3,330 shares of the company’s stock worth $175,000 after purchasing an additional 190 shares during the last quarter. Capital International Inc. CA boosted its holdings in Wheaton Precious Metals by 2.5% during the 1st quarter. Capital International Inc. CA now owns 8,308 shares of the company’s stock worth $392,000 after acquiring an additional 204 shares during the last quarter. Western Pacific Wealth Management LP boosted its holdings in Wheaton Precious Metals by 19.6% during the 1st quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock worth $63,000 after acquiring an additional 218 shares during the last quarter. Brookstone Capital Management boosted its holdings in shares of Wheaton Precious Metals by 5.3% in the 1st quarter. Brookstone Capital Management now owns 4,771 shares of the company’s stock worth $225,000 after buying an additional 240 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in shares of Wheaton Precious Metals by 25.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,231 shares of the company’s stock worth $65,000 after buying an additional 253 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 declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were paid a $0.155 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.02%. Wheaton Precious Metals’s payout ratio is currently 49.21%.

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.