FY2024 EPS Estimates for Wheaton Precious Metals Corp. (NYSE:WPM) Increased by Analyst

Wheaton Precious Metals Corp. (NYSE:WPM) – Equities research analysts at Zacks Research raised their FY2024 earnings estimates for shares of Wheaton Precious Metals in a report released on Tuesday, September 3rd. Zacks Research analyst M. Das now forecasts that the company will post earnings of $1.38 per share for the year, up from their previous forecast of $1.37. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.39 per share.

A number of other equities research analysts have also recently issued reports on WPM. Jefferies Financial Group upped their target price on shares of Wheaton Precious Metals from $62.00 to $67.00 and gave the company a “buy” rating in a report on Friday, July 12th. Berenberg Bank upped their target price on shares of Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, June 27th. BMO Capital Markets upped their target price on shares of Wheaton Precious Metals from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Tuesday, May 21st. Scotiabank upped their price target on shares of 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. Finally, TD Securities decreased their price target on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Wheaton Precious Metals currently has an average rating of “Moderate Buy” and an average target price of $67.50.

Wheaton Precious Metals Stock Performance

Shares of WPM stock opened at $59.88 on Friday. The firm’s 50-day moving average is $58.57 and its 200-day moving average is $53.19. The stock has a market cap of $27.16 billion, a price-to-earnings ratio of 46.06, a PEG ratio of 2.28 and a beta of 0.76. Wheaton Precious Metals has a 52-week low of $38.37 and a 52-week high of $63.06.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The company 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%. Wheaton Precious Metals’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 EPS.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were issued a dividend of $0.155 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.62 annualized dividend and a dividend yield of 1.04%. Wheaton Precious Metals’s dividend payout ratio is presently 47.69%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Ridgewood Investments LLC bought a new position in shares of Wheaton Precious Metals during the second quarter worth approximately $31,000. Abich Financial Wealth Management LLC bought a new position in shares of Wheaton Precious Metals during the second quarter worth approximately $31,000. Principal Securities Inc. bought a new position in shares of Wheaton Precious Metals during the fourth quarter worth approximately $39,000. Sunbelt Securities Inc. bought a new position in shares of Wheaton Precious Metals during the second quarter worth approximately $47,000. Finally, St. Johns Investment Management Company LLC bought a new position in Wheaton Precious Metals in the first quarter valued at approximately $52,000. 70.34% of the stock is owned by institutional investors.

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.