Scotiabank Issues Optimistic Forecast for WPM Earnings

Wheaton Precious Metals Corp. (NYSE:WPM) – Analysts at Scotiabank boosted their FY2024 earnings estimates for Wheaton Precious Metals in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now expects that the company will earn $1.45 per share for the year, up from their previous forecast of $1.33. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.44 per share.

Other equities analysts have also issued research reports about the company. UBS Group assumed coverage on Wheaton Precious Metals in a research note on Monday, November 18th. They issued a “buy” rating and a $78.00 price objective on the stock. Stifel Canada lowered shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Raymond James raised their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Jefferies Financial Group increased their price target 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. Finally, National Bank Financial upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $71.67.

Wheaton Precious Metals Trading Down 1.1 %

WPM stock opened at $57.17 on Friday. The firm has a market cap of $25.94 billion, a P/E ratio of 42.66, a P/E/G ratio of 1.67 and a beta of 0.76. Wheaton Precious Metals has a 1-year low of $38.57 and a 1-year high of $68.64. The business’s 50 day moving average is $60.41 and its 200-day moving average is $60.22.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, hitting the consensus estimate of $0.34. The business had revenue of $308.25 million during the quarter, compared to analysts’ expectations of $324.57 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. During the same quarter in the previous year, the firm earned $0.27 EPS.

Hedge Funds Weigh In On Wheaton Precious Metals

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Versant Capital Management Inc acquired a new position in Wheaton Precious Metals during the fourth quarter worth approximately $29,000. Abich Financial Wealth Management LLC bought a new position in shares of Wheaton Precious Metals during the 2nd quarter worth approximately $31,000. GAMMA Investing LLC acquired a new position in shares of Wheaton Precious Metals during the 4th quarter worth approximately $41,000. Sunbelt Securities Inc. bought a new stake in Wheaton Precious Metals in the 2nd quarter valued at $47,000. Finally, St. Johns Investment Management Company LLC acquired a new stake in Wheaton Precious Metals during the 3rd quarter valued at $48,000. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Thursday, November 21st were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.62 annualized dividend and a yield of 1.08%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 46.27%.

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.