Equities Analysts Set Expectations for WPM Q3 Earnings

Wheaton Precious Metals Corp. (NYSE:WPM) – Stock analysts at Stifel Canada lowered their Q3 2024 earnings per share estimates for Wheaton Precious Metals in a research note issued to investors on Monday, October 21st. Stifel Canada analyst I. Rico now expects that the company will earn $0.33 per share for the quarter, down from their prior forecast of $0.39. Stifel Canada currently has a “Hold” rating on the stock. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.45 per share. Stifel Canada also issued estimates for Wheaton Precious Metals’ FY2025 earnings at $1.96 EPS and FY2026 earnings at $1.96 EPS.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $299.06 million for the quarter, compared to analysts’ expectations of $309.54 million. During the same quarter last year, the company earned $0.31 EPS. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year.

A number of other analysts also recently issued reports on the company. Jefferies Financial Group raised their target price 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. CIBC lifted 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. TD Securities dropped their price target on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Berenberg Bank lifted their price target on shares of Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Finally, Raymond James upped their price objective on Wheaton Precious Metals from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $69.88.

Wheaton Precious Metals Trading Down 0.4 %

NYSE:WPM opened at $67.13 on Thursday. The company has a market cap of $30.45 billion, a P/E ratio of 51.64, a P/E/G ratio of 2.48 and a beta of 0.78. Wheaton Precious Metals has a twelve month low of $38.57 and a twelve month high of $68.64. The company’s 50-day moving average price is $61.87 and its 200-day moving average price is $57.51.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Ridgewood Investments LLC acquired a new position in Wheaton Precious Metals in the second quarter valued at $31,000. Abich Financial Wealth Management LLC acquired a new position in Wheaton Precious Metals in the 2nd quarter valued at about $31,000. Sunbelt Securities Inc. purchased a new stake in Wheaton Precious Metals during the 2nd quarter valued at approximately $47,000. St. Johns Investment Management Company LLC acquired a new stake in Wheaton Precious Metals during the 3rd quarter worth approximately $48,000. Finally, Western Pacific Wealth Management LP grew its stake in shares of Wheaton Precious Metals by 19.6% in the 1st quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock valued at $63,000 after purchasing an additional 218 shares during the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were paid a dividend of $0.155 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.62 annualized dividend and a yield of 0.92%. Wheaton Precious Metals’s dividend payout ratio is currently 47.69%.

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.