Zacks Research Has Bullish Forecast for WPM Q4 Earnings

Wheaton Precious Metals Corp. (NYSE:WPM) – Equities researchers at Zacks Research boosted their Q4 2024 EPS estimates for shares of Wheaton Precious Metals in a research note issued to investors on Thursday, November 14th. Zacks Research analyst M. Das now forecasts that the company will post earnings of $0.38 per share for the quarter, up from their prior forecast of $0.37. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.44 per share.

WPM has been the topic of several other research reports. TD Securities increased their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Raymond James increased 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, October 25th. Stifel Canada lowered shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. UBS Group initiated coverage on shares of Wheaton Precious Metals in a research note on Monday. They issued a “buy” rating and a $78.00 price objective on the stock. Finally, Jefferies Financial Group lifted their price objective on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a report on Friday, October 4th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Wheaton Precious Metals has a consensus rating of “Moderate Buy” and an average price target of $71.67.

Wheaton Precious Metals Price Performance

Shares of WPM opened at $60.90 on Monday. Wheaton Precious Metals has a one year low of $38.57 and a one year high of $68.64. The company has a market cap of $27.63 billion, a PE ratio of 45.45, a P/E/G ratio of 2.14 and a beta of 0.77. The stock has a 50-day moving average of $62.81 and a 200-day moving average of $58.93.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, meeting the consensus estimate of $0.34. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The firm had revenue of $308.25 million during the quarter, compared to the consensus estimate of $324.57 million. During the same period in the previous year, the firm posted $0.27 earnings per share.

Wheaton Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Thursday, November 21st will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Thursday, November 21st. Wheaton Precious Metals’s payout ratio is currently 46.27%.

Institutional Investors Weigh In On Wheaton Precious Metals

Institutional investors have recently added to or reduced their stakes in the company. Quent Capital LLC grew its stake in Wheaton Precious Metals by 136.1% in the 1st quarter. Quent Capital LLC now owns 5,636 shares of the company’s stock valued at $266,000 after purchasing an additional 3,249 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Wheaton Precious Metals by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 16,770,475 shares of the company’s stock worth $790,392,000 after buying an additional 272,918 shares during the last quarter. O Shaughnessy Asset Management LLC grew its position in Wheaton Precious Metals by 6.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 10,817 shares of the company’s stock valued at $510,000 after buying an additional 656 shares during the period. Clearbridge Investments LLC increased its holdings in Wheaton Precious Metals by 2.8% during the first quarter. Clearbridge Investments LLC now owns 705,706 shares of the company’s stock worth $33,260,000 after buying an additional 19,473 shares during the last quarter. Finally, UniSuper Management Pty Ltd raised its position in Wheaton Precious Metals by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 6,400 shares of the company’s stock worth $302,000 after acquiring an additional 3,200 shares during the period. 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.