Research Analysts Set Expectations for WPM FY2024 Earnings

Wheaton Precious Metals Corp. (NYSE:WPM) – Stock analysts at National Bank Financial lifted their FY2024 earnings per share (EPS) estimates for shares of Wheaton Precious Metals in a report issued on Tuesday, October 22nd. National Bank Financial analyst S. Nagle now forecasts that the company will earn $1.47 per share for the year, up from their prior forecast of $1.46. National Bank Financial has a “Outperform” rating on the stock. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.45 per share.

Other research analysts have also issued reports about the company. TD Securities lowered their target price on Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. CIBC raised their price objective on Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. Scotiabank upped their target price on Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Raymond James raised their price target on shares of Wheaton Precious Metals from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th. Finally, Jefferies Financial Group upped their price objective on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. 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 Stock Performance

WPM stock opened at $67.13 on Thursday. The company has a market capitalization of $30.45 billion, a P/E ratio of 51.64, a PEG ratio of 2.48 and a beta of 0.78. The company has a fifty day moving average price of $61.87 and a 200-day moving average price of $57.51. Wheaton Precious Metals has a 52-week low of $38.57 and a 52-week high of $68.64.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. 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 posted $0.31 earnings per share. The firm’s revenue was up 12.9% compared to the same quarter last year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. AdvisorNet Financial Inc boosted its position in shares of 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 in the last quarter. Vontobel Holding Ltd. boosted its holdings in Wheaton Precious Metals by 0.6% in the third quarter. Vontobel Holding Ltd. now owns 34,558 shares of the company’s stock worth $2,110,000 after acquiring an additional 197 shares in the last quarter. Capital International Inc. CA grew its stake in Wheaton Precious Metals by 2.5% in the first quarter. Capital International Inc. CA now owns 8,308 shares of the company’s stock valued at $392,000 after acquiring an additional 204 shares during the period. Arkadios Wealth Advisors grew its stake in Wheaton Precious Metals by 1.0% in the third quarter. Arkadios Wealth Advisors now owns 21,575 shares of the company’s stock valued at $1,318,000 after acquiring an additional 210 shares during the period. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in shares of Wheaton Precious Metals by 4.9% during the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,607 shares of the company’s stock valued at $281,000 after acquiring an additional 217 shares in the last quarter. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Dividend Announcement

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