Scotiabank Has Bullish Outlook for TSE:WPM FY2024 Earnings

Wheaton Precious Metals Corp. (TSE:WPM) – Investment analysts at Scotiabank lifted 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 post earnings per share of $2.08 for the year, up from their prior estimate of $1.81. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $2.47 per share. Scotiabank also issued estimates for Wheaton Precious Metals’ FY2025 earnings at $2.72 EPS and FY2026 earnings at $2.88 EPS.

Several other research firms have also issued reports on WPM. Peel Hunt increased their target price on shares of Wheaton Precious Metals from C$82.00 to C$95.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. UBS Group raised Wheaton Precious Metals to a “strong-buy” rating in a report on Monday, November 18th. Stifel Nicolaus upped their price objective on Wheaton Precious Metals from C$90.00 to C$102.00 in a research note on Monday, October 21st. Eight Capital lifted their target price on Wheaton Precious Metals from C$95.00 to C$100.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Stifel Canada downgraded Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Wheaton Precious Metals currently has a consensus rating of “Buy” and an average target price of C$97.67.

Wheaton Precious Metals Trading Down 2.1 %

WPM opened at C$82.50 on Monday. The firm’s 50 day simple moving average is C$85.44 and its two-hundred day simple moving average is C$83.29. The company has a market capitalization of C$37.43 billion, a PE ratio of 47.69 and a beta of 0.70. Wheaton Precious Metals has a 1-year low of C$52.15 and a 1-year high of C$94.84.

Wheaton Precious Metals Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, December 6th were given a dividend of $0.21 per share. The ex-dividend date was Thursday, November 21st. This represents a $0.84 dividend on an annualized basis and a yield of 1.02%. Wheaton Precious Metals’s payout ratio is 48.55%.

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.