Wheaton Precious Metals Corp. (NYSE:WPM) to Post Q1 2024 Earnings of $0.33 Per Share, Raymond James Forecasts

Wheaton Precious Metals Corp. (NYSE:WPM) – Equities research analysts at Raymond James upped their Q1 2024 earnings per share estimates for shares of Wheaton Precious Metals in a research report issued on Monday, April 22nd. Raymond James analyst B. Macarthur now anticipates that the company will post earnings per share of $0.33 for the quarter, up from their prior estimate of $0.32. Raymond James has a “Market Perform” rating and a $58.00 price objective on the stock. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.21 per share. Raymond James also issued estimates for Wheaton Precious Metals’ Q3 2024 earnings at $0.38 EPS and Q4 2024 earnings at $0.39 EPS.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Thursday, March 14th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. Wheaton Precious Metals had a return on equity of 7.76% and a net margin of 52.92%. The company had revenue of $313.47 million during the quarter, compared to the consensus estimate of $284.29 million.

WPM has been the subject of a number of other research reports. TD Securities upgraded Wheaton Precious Metals from a “hold” rating to a “buy” rating and increased their price objective for the company from $51.00 to $53.00 in a research report on Monday, March 18th. BMO Capital Markets cut their price objective on Wheaton Precious Metals from $61.00 to $59.00 and set an “outperform” rating for the company in a research report on Wednesday, February 21st. National Bank Financial downgraded Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, February 21st. Jefferies Financial Group increased their price objective on Wheaton Precious Metals from $52.00 to $61.00 and gave the company a “buy” rating in a research report on Monday. Finally, Berenberg Bank increased their target price on Wheaton Precious Metals from $52.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Wheaton Precious Metals has an average rating of “Moderate Buy” and a consensus target price of $59.32.

Wheaton Precious Metals Stock Performance

Shares of NYSE:WPM opened at $52.55 on Thursday. Wheaton Precious Metals has a one year low of $38.37 and a one year high of $54.30. The stock has a fifty day moving average of $46.17 and a 200-day moving average of $46.24. The company has a market capitalization of $23.82 billion, a PE ratio of 44.16, a price-to-earnings-growth ratio of 7.36 and a beta of 0.77.

Wheaton Precious Metals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Wednesday, April 3rd were paid a $0.155 dividend. The ex-dividend date of this dividend was Tuesday, April 2nd. This is an increase from Wheaton Precious Metals’s previous quarterly dividend of $0.15. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.18%. Wheaton Precious Metals’s dividend payout ratio is 52.10%.

Hedge Funds Weigh In On Wheaton Precious Metals

A number of hedge funds have recently modified their holdings of the stock. Brookstone Capital Management increased its stake in shares of Wheaton Precious Metals by 5.3% in the first quarter. Brookstone Capital Management now owns 4,771 shares of the company’s stock worth $225,000 after acquiring an additional 240 shares during the last quarter. Parsons Capital Management Inc. RI increased its stake in shares of Wheaton Precious Metals by 0.4% in the third quarter. Parsons Capital Management Inc. RI now owns 57,361 shares of the company’s stock worth $2,326,000 after acquiring an additional 250 shares during the last quarter. Transatlantique Private Wealth LLC increased its stake in shares of Wheaton Precious Metals by 3.6% in the third quarter. Transatlantique Private Wealth LLC now owns 7,808 shares of the company’s stock worth $317,000 after acquiring an additional 270 shares during the last quarter. Hexagon Capital Partners LLC increased its position in Wheaton Precious Metals by 30.8% during the fourth quarter. Hexagon Capital Partners LLC now owns 1,159 shares of the company’s stock worth $57,000 after buying an additional 273 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. increased its position in Wheaton Precious Metals by 2.1% during the third quarter. Pekin Hardy Strauss Inc. now owns 14,691 shares of the company’s stock worth $596,000 after buying an additional 302 shares during the last quarter. 70.34% of the stock is 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.