Research Analysts Set Expectations for WPM FY2024 Earnings

Wheaton Precious Metals Corp. (NYSE:WPM) – Edison Inv. Res reduced their FY2024 earnings per share estimates for Wheaton Precious Metals in a note issued to investors on Monday, November 11th. Edison Inv. Res analyst C. Gibson now expects that the company will earn $1.45 per share for the year, down from their previous estimate of $1.46. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.44 per share. Edison Inv. Res also issued estimates for Wheaton Precious Metals’ FY2026 earnings at $1.50 EPS.

WPM has been the subject of a number of other research reports. Scotiabank boosted their price target on Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Raymond James raised their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Stifel Canada cut shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Jefferies Financial Group raised their price objective on Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a report on Friday, October 4th. Finally, TD Securities upped their target price on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.88.

Wheaton Precious Metals Stock Down 1.1 %

Shares of NYSE:WPM opened at $58.68 on Thursday. Wheaton Precious Metals has a 12-month low of $38.57 and a 12-month high of $68.64. The company’s 50 day moving average price is $62.76 and its two-hundred day moving average price is $58.79. The firm has a market cap of $26.62 billion, a PE ratio of 43.79, a PEG ratio of 2.15 and a beta of 0.77.

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. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The firm had revenue of $308.25 million for the quarter, compared to analysts’ expectations of $324.57 million. During the same quarter last year, the business earned $0.27 EPS.

Wheaton Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Thursday, November 21st will be issued a $0.155 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.62 annualized dividend and a dividend yield of 1.06%. Wheaton Precious Metals’s dividend payout ratio is currently 46.27%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in WPM. Van ECK Associates Corp lifted its position in shares of Wheaton Precious Metals by 1.0% during the 2nd quarter. Van ECK Associates Corp now owns 19,984,984 shares of the company’s stock worth $1,047,621,000 after buying an additional 197,426 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Wheaton Precious Metals by 1.7% during the first quarter. Vanguard Group Inc. now owns 16,770,475 shares of the company’s stock worth $790,392,000 after acquiring an additional 272,918 shares during the period. FMR LLC boosted its position in Wheaton Precious Metals by 33.7% in the third quarter. FMR LLC now owns 14,665,913 shares of the company’s stock worth $895,723,000 after purchasing an additional 3,692,594 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Wheaton Precious Metals by 16.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,309,175 shares of the company’s stock valued at $344,483,000 after purchasing an additional 1,010,307 shares during the period. Finally, TD Asset Management Inc increased its position in shares of Wheaton Precious Metals by 22.5% during the 2nd quarter. TD Asset Management Inc now owns 5,950,317 shares of the company’s stock valued at $311,920,000 after purchasing an additional 1,092,480 shares during the last quarter. 70.34% of the stock is owned by institutional investors.

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.