National Bank Financial Upgrades Wheaton Precious Metals (TSE:WPM) to “Strong-Buy”

National Bank Financial upgraded shares of Wheaton Precious Metals (TSE:WPM) from a hold rating to a strong-buy rating in a research note released on Wednesday, Marketbeat Ratings reports. National Bank Financial also issued estimates for Wheaton Precious Metals’ Q3 2024 earnings at $0.50 EPS, Q4 2024 earnings at $0.56 EPS and FY2024 earnings at $1.99 EPS.

Other analysts have also recently issued research reports about the company. Eight Capital boosted their price target on Wheaton Precious Metals from C$95.00 to C$100.00 and gave the stock a buy rating in a research report on Thursday, September 26th. Peel Hunt upped their price target on shares of Wheaton Precious Metals from C$82.00 to C$95.00 and gave the company a buy rating in a report on Wednesday, October 2nd. Canaccord Genuity Group lifted their price objective on Wheaton Precious Metals from C$90.00 to C$100.00 in a research note on Tuesday, July 23rd. Finally, National Bankshares raised Wheaton Precious Metals from a sector perform rating to an outperform rating and raised their target price for the company from C$90.00 to C$105.00 in a report on Thursday. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Wheaton Precious Metals currently has an average rating of Buy and a consensus target price of C$94.00.

Wheaton Precious Metals Stock Down 0.3 %

WPM opened at C$83.57 on Wednesday. The firm has a market capitalization of C$37.91 billion, a P/E ratio of 48.87 and a beta of 0.70. Wheaton Precious Metals has a 12-month low of C$52.15 and a 12-month high of C$87.37. The stock has a fifty day moving average of C$81.97 and a 200-day moving average of C$77.22.

Wheaton Precious Metals (TSE:WPM) last posted its quarterly earnings results on Wednesday, August 7th. The company reported C$0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.39 by C$0.06. The business had revenue of C$409.19 million during the quarter, compared to analyst estimates of C$400.03 million. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.16%. On average, analysts expect that Wheaton Precious Metals will post 2.412993 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were given a $0.214 dividend. This represents a $0.86 annualized dividend and a yield of 1.02%. The ex-dividend date was Wednesday, August 21st. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 49.12%.

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.