Equities Analysts Set Expectations for WPM FY2024 Earnings

Wheaton Precious Metals Corp. (NYSE:WPM) – Edison Inv. Res decreased their FY2024 earnings per share (EPS) estimates for Wheaton Precious Metals in a report released on Wednesday, December 11th. Edison Inv. Res analyst C. Gibson now forecasts that the company will earn $1.44 per share for the year, down from their previous forecast of $1.45. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.44 per share. Edison Inv. Res also issued estimates for Wheaton Precious Metals’ FY2026 earnings at $1.52 EPS.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.34 EPS for the quarter, hitting analysts’ consensus estimates of $0.34. The company had revenue of $308.25 million during the quarter, compared to the consensus estimate of $324.57 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. During the same quarter in the prior year, the firm earned $0.27 EPS.

WPM has been the subject of several other reports. Raymond James raised their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Stifel Canada downgraded Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. National Bank Financial raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Scotiabank raised their price objective 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, Jefferies Financial Group boosted their price objective on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, October 4th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $71.67.

Wheaton Precious Metals Stock Down 1.4 %

Shares of NYSE:WPM opened at $60.56 on Friday. Wheaton Precious Metals has a 52 week low of $38.57 and a 52 week high of $68.64. The company has a 50-day moving average price of $62.99 and a 200 day moving average price of $59.79. The company has a market cap of $27.47 billion, a P/E ratio of 45.19, a PEG ratio of 1.77 and a beta of 0.75.

Wheaton Precious Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Thursday, November 21st were paid a dividend of $0.155 per share. The ex-dividend date was Thursday, November 21st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.02%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 46.27%.

Institutional Investors Weigh In On Wheaton Precious Metals

Institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC lifted its holdings in Wheaton Precious Metals by 33.7% in the 3rd quarter. FMR LLC now owns 14,665,913 shares of the company’s stock valued at $895,723,000 after purchasing an additional 3,692,594 shares in the last quarter. Canoe Financial LP purchased a new position in shares of Wheaton Precious Metals during the third quarter valued at approximately $113,017,000. Barings LLC acquired a new stake in Wheaton Precious Metals during the second quarter worth approximately $65,405,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Wheaton Precious Metals by 1,865.2% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,245,534 shares of the company’s stock worth $76,061,000 after acquiring an additional 1,182,156 shares during the period. Finally, TD Asset Management Inc raised its holdings in Wheaton Precious Metals by 22.5% in the 2nd quarter. TD Asset Management Inc now owns 5,950,317 shares of the company’s stock valued at $311,920,000 after acquiring an additional 1,092,480 shares during 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.