Wheaton Precious Metals (TSE:WPM) Announces Quarterly Earnings Results

Wheaton Precious Metals (TSE:WPM) released its earnings results on Thursday. The company reported C$1.69 earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of C$1.32 billion for the quarter. Wheaton Precious Metals had a return on equity of 21.32% and a net margin of 65.55%.

Wheaton Precious Metals Price Performance

Wheaton Precious Metals stock traded up C$11.53 during mid-day trading on Friday, hitting C$187.32. 1,184,636 shares of the company’s stock traded hands, compared to its average volume of 815,466. The firm has a 50 day simple moving average of C$161.85 and a two-hundred day simple moving average of C$180.88. Wheaton Precious Metals has a fifty-two week low of C$126.12 and a fifty-two week high of C$226.68. The stock has a market cap of C$85.07 billion, a price-to-earnings ratio of 47.34 and a beta of 1.39.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, June 9th were issued a dividend of $0.195 per share. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.78 annualized dividend and a yield of 0.4%. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 17.44%.

Insider Activity at Wheaton Precious Metals

In related news, insider Vincent Chun Yip Lau acquired 225 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were bought at an average cost of C$176.85 per share, with a total value of C$39,791.25. Following the completion of the transaction, the insider directly owned 1,065 shares of the company’s stock, valued at C$188,345.25. This trade represents a 26.79% increase in their ownership of the stock. 0.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Stifel Nicolaus upped their price objective on Wheaton Precious Metals from C$240.00 to C$250.00 and gave the stock a “buy” rating in a research note on Wednesday, April 15th. BMO Capital Markets boosted their target price on shares of Wheaton Precious Metals from C$240.00 to C$250.00 in a report on Wednesday, April 22nd. Finally, Peel Hunt dropped their price target on shares of Wheaton Precious Metals from C$220.00 to C$187.00 in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of C$199.00.

Wheaton Precious Metals Company Profile

Wheaton is the world’s premier precious metals streaming company with the highest-quality portfolio of long-life, low-cost assets. Its business model offers investors commodity price leverage and exploration upside but with a much lower risk profile than a traditional mining company. Wheaton delivers amongst the highest cash operating margins in the mining industry, allowing it to pay a competitive dividend and continue to grow through accretive acquisitions. Wheaton is committed to strong ESG practices and giving back to the communities where Wheaton and its mining partners operate.