WPM FY2024 EPS Estimate Reduced by National Bank Financial

Wheaton Precious Metals Corp. (NYSE:WPM) – Equities research analysts at National Bank Financial reduced their FY2024 earnings estimates for Wheaton Precious Metals in a research note issued on Monday, February 10th. National Bank Financial analyst S. Nagle now expects that the company will earn $1.45 per share for the year, down from their previous estimate of $1.48. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.46 per share. National Bank Financial also issued estimates for Wheaton Precious Metals’ Q4 2024 earnings at $0.42 EPS.

A number of other equities research analysts also recently commented on WPM. UBS Group started coverage on Wheaton Precious Metals in a research report on Monday, November 18th. They issued a “buy” rating and a $78.00 price objective for the company. TD Securities lifted their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a report on Friday, November 8th. Raymond James increased their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, Stifel Canada upgraded shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Nine 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, Wheaton Precious Metals currently has a consensus rating of “Buy” and a consensus target price of $71.67.

Wheaton Precious Metals Stock Performance

Shares of WPM opened at $66.93 on Wednesday. Wheaton Precious Metals has a fifty-two week low of $38.57 and a fifty-two week high of $68.64. The company has a market capitalization of $30.36 billion, a PE ratio of 49.95, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77. The stock has a fifty day moving average of $59.86 and a two-hundred day moving average of $60.93.

Institutional Investors Weigh In On Wheaton Precious Metals

Institutional investors and hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its holdings in Wheaton Precious Metals by 4.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 955,540 shares of the company’s stock valued at $58,422,000 after purchasing an additional 36,970 shares in the last quarter. Well Done LLC grew its stake in shares of Wheaton Precious Metals by 173.9% during the third 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. Swiss National Bank increased its position in shares of Wheaton Precious Metals by 0.8% during the third quarter. Swiss National Bank now owns 1,370,800 shares of the company’s stock worth $83,854,000 after acquiring an additional 10,600 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Wheaton Precious Metals during the third quarter worth about $1,287,000. Finally, CWA Asset Management Group LLC lifted its stake in shares of Wheaton Precious Metals by 19.7% in the fourth quarter. CWA Asset Management Group LLC now owns 163,514 shares of the company’s stock worth $9,196,000 after acquiring an additional 26,924 shares in the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

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.