Q3 EPS Estimates for WPM Reduced by National Bank Financial

Wheaton Precious Metals Corp. (NYSE:WPM) – Equities researchers at National Bank Financial cut their Q3 2024 EPS estimates for Wheaton Precious Metals in a research note issued to investors on Tuesday, October 22nd. National Bank Financial analyst S. Nagle now anticipates that the company will post earnings of $0.33 per share for the quarter, down from their prior 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.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $299.06 million for the quarter, compared to analysts’ expectations of $309.54 million. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 earnings per share.

A number of other analysts have also recently weighed in on WPM. TD Securities lowered their price target on Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Stifel Canada cut shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. CIBC upped their price objective on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Scotiabank raised their price objective on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Finally, Raymond James boosted their target price on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Wheaton Precious Metals has an average rating of “Moderate Buy” and a consensus target price of $70.25.

Wheaton Precious Metals Trading Down 1.5 %

WPM stock opened at $66.12 on Friday. The firm has a market cap of $29.99 billion, a P/E ratio of 50.86, a P/E/G ratio of 2.48 and a beta of 0.78. 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 $62.01 and its 200-day moving average is $57.62.

Wheaton Precious Metals Announces Dividend

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

Institutional Trading of Wheaton Precious Metals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Financial Sense Advisors Inc. grew its holdings in shares of Wheaton Precious Metals by 54.0% in the 1st quarter. Financial Sense Advisors Inc. now owns 56,836 shares of the company’s stock valued at $2,679,000 after buying an additional 19,924 shares during the period. Mediolanum International Funds Ltd bought a new position in Wheaton Precious Metals in the first quarter valued at $1,752,000. Russell Investments Group Ltd. increased its stake in Wheaton Precious Metals by 8.5% in the 1st quarter. Russell Investments Group Ltd. now owns 878,049 shares of the company’s stock valued at $41,227,000 after buying an additional 68,755 shares during the last quarter. SageView Advisory Group LLC acquired a new position in shares of Wheaton Precious Metals during the 1st quarter worth about $770,000. Finally, Well Done LLC grew its holdings in shares of Wheaton Precious Metals by 173.9% in the 3rd quarter. Well Done LLC now owns 38,108 shares of the company’s stock valued at $2,328,000 after acquiring an additional 24,196 shares in the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.

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.