Research Analysts Set Expectations for WPM Q3 Earnings

Wheaton Precious Metals Corp. (NYSE:WPM) – Investment analysts at National Bank Financial decreased their Q3 2024 earnings estimates for Wheaton Precious Metals in a research note issued to investors on Tuesday, October 22nd. National Bank Financial analyst S. Nagle now forecasts that the company will earn $0.33 per share for the quarter, down from their previous forecast of $0.37. 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. National Bank Financial also issued estimates for Wheaton Precious Metals’ FY2025 earnings at $1.70 EPS.

WPM has been the topic of several other reports. CIBC increased their target price 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. Raymond James boosted their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday. TD Securities reduced their price objective on 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. Jefferies Financial Group raised their target price on Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a report on Friday, October 4th. Finally, Stifel Canada lowered shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $70.25.

Wheaton Precious Metals Trading Down 1.5 %

Shares of WPM opened at $66.12 on Friday. The stock’s 50 day moving average is $62.01 and its two-hundred day moving average is $57.62. The firm has a market capitalization of $29.99 billion, a PE ratio of 50.86, 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.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.33 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 company had revenue of $299.06 million for the quarter, compared to analyst estimates of $309.54 million. During the same period in the previous year, the business posted $0.31 earnings per share. Wheaton Precious Metals’s quarterly revenue was up 12.9% on a year-over-year basis.

Wheaton Precious Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend was Wednesday, August 21st. Wheaton Precious Metals’s payout ratio is 47.69%.

Institutional Trading of Wheaton Precious Metals

Institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in Wheaton Precious Metals by 20.9% during the 4th quarter. Wellington Management Group LLP now owns 86,639 shares of the company’s stock valued at $4,295,000 after purchasing an additional 14,972 shares during the period. AdvisorNet Financial Inc grew its stake in shares of Wheaton Precious Metals by 14.2% in the first quarter. AdvisorNet Financial Inc now owns 3,140 shares of the company’s stock worth $148,000 after acquiring an additional 390 shares during the last quarter. Brookstone Capital Management increased its position in Wheaton Precious Metals by 5.3% during the first quarter. Brookstone Capital Management now owns 4,771 shares of the company’s stock worth $225,000 after acquiring an additional 240 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Wheaton Precious Metals by 8.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 38,274 shares of the company’s stock worth $1,804,000 after acquiring an additional 3,120 shares during the period. Finally, Physician Wealth Advisors Inc. acquired a new position in Wheaton Precious Metals during the 1st quarter valued at $203,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.

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.