Stifel Canada Analysts Decrease Earnings Estimates for WPM

Wheaton Precious Metals Corp. (NYSE:WPM) – Equities researchers at Stifel Canada lowered their Q3 2024 earnings per share (EPS) estimates for shares of Wheaton Precious Metals in a research note issued on Monday, October 21st. Stifel Canada analyst I. Rico now anticipates that the company will post earnings per share of $0.33 for the quarter, down from their previous forecast of $0.39. Stifel Canada currently has a “Hold” rating on the stock. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.45 per share. Stifel Canada also issued estimates for Wheaton Precious Metals’ FY2025 earnings at $1.96 EPS and FY2026 earnings at $1.96 EPS.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly 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 business had revenue of $299.06 million during the quarter, compared to the consensus estimate of $309.54 million. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. The business’s revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.31 EPS.

WPM has been the subject of a number of other research reports. National Bank Financial upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Jefferies Financial Group lifted their target price on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Berenberg Bank increased their price target on shares of Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Scotiabank upped their target price on 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, CIBC raised their price target on Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.88.

Wheaton Precious Metals Price Performance

NYSE WPM opened at $67.13 on Thursday. The business has a 50 day moving average price of $61.87 and a 200 day moving average price of $57.51. The company has a market capitalization of $30.45 billion, a P/E ratio of 51.64, a PEG ratio of 2.48 and a beta of 0.78. Wheaton Precious Metals has a 1-year low of $38.57 and a 1-year high of $68.64.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.62 dividend on an annualized basis and a yield of 0.92%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 47.69%.

Hedge Funds Weigh In On Wheaton Precious Metals

Several institutional investors and hedge funds have recently made changes to their positions in the business. Ridgewood Investments LLC acquired a new stake in shares of Wheaton Precious Metals during the 2nd quarter worth approximately $31,000. Abich Financial Wealth Management LLC bought a new stake in Wheaton Precious Metals in the second quarter valued at $31,000. Sunbelt Securities Inc. bought a new position in shares of Wheaton Precious Metals during the second quarter worth about $47,000. St. Johns Investment Management Company LLC bought a new stake in Wheaton Precious Metals in the 3rd quarter valued at about $48,000. Finally, Western Pacific Wealth Management LP boosted its stake in Wheaton Precious Metals by 19.6% during the 1st quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock valued at $63,000 after purchasing an additional 218 shares during the period. 70.34% of the stock is currently owned by hedge funds and other 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.