Wheaton Precious Metals Corp. (NYSE:WPM) Expected to Post Q3 2024 Earnings of $0.36 Per Share

Wheaton Precious Metals Corp. (NYSE:WPM) – Analysts at Zacks Research raised their Q3 2024 earnings per share estimates for Wheaton Precious Metals in a report released on Wednesday, October 9th. Zacks Research analyst M. Das now expects that the company will post earnings per share of $0.36 for the quarter, up from their previous estimate of $0.34. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.43 per share. Zacks Research also issued estimates for Wheaton Precious Metals’ Q4 2024 earnings at $0.37 EPS, FY2024 earnings at $1.41 EPS, Q1 2025 earnings at $0.38 EPS, Q2 2025 earnings at $0.40 EPS, Q3 2025 earnings at $0.39 EPS, Q4 2025 earnings at $0.39 EPS, FY2025 earnings at $1.55 EPS, Q1 2026 earnings at $0.40 EPS, Q2 2026 earnings at $0.41 EPS, Q3 2026 earnings at $0.38 EPS and FY2026 earnings at $1.60 EPS.

Several other brokerages have also recently weighed in on WPM. National Bank Financial upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday. Berenberg Bank increased their price target on Wheaton Precious Metals from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. 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 research report on Friday, October 4th. Raymond James raised their target price on Wheaton Precious Metals from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 25th. Finally, CIBC raised their price target 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. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $69.88.

Wheaton Precious Metals Stock Performance

NYSE WPM opened at $60.71 on Monday. The business’s 50 day moving average price is $60.27 and its 200-day moving average price is $56.61. Wheaton Precious Metals has a fifty-two week low of $38.57 and a fifty-two week high of $64.82. The company has a market cap of $27.54 billion, a P/E ratio of 48.18, a P/E/G ratio of 2.20 and a beta of 0.78.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results 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 for the quarter, compared to the consensus estimate of $309.54 million. During the same quarter last year, the company earned $0.31 EPS. The firm’s quarterly revenue was up 12.9% on a year-over-year basis.

Institutional Investors Weigh In On Wheaton Precious Metals

Several hedge funds have recently made changes to their positions in WPM. Financial Sense Advisors Inc. grew its stake in shares of Wheaton Precious Metals by 54.0% during the first quarter. Financial Sense Advisors Inc. now owns 56,836 shares of the company’s stock valued at $2,679,000 after acquiring an additional 19,924 shares in the last quarter. Mediolanum International Funds Ltd acquired a new position in Wheaton Precious Metals in the first quarter worth about $1,752,000. Russell Investments Group Ltd. grew its stake in Wheaton Precious Metals by 8.5% in the first quarter. Russell Investments Group Ltd. now owns 878,049 shares of the company’s stock worth $41,227,000 after purchasing an additional 68,755 shares in the last quarter. SageView Advisory Group LLC acquired a new position in Wheaton Precious Metals in the first quarter valued at approximately $770,000. Finally, Forge First Asset Management Inc. acquired a new position in Wheaton Precious Metals in the first quarter valued at approximately $4,817,000. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend was Wednesday, August 21st. Wheaton Precious Metals’s dividend payout ratio is currently 49.21%.

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.