Q3 2024 EPS Estimates for Wheaton Precious Metals Corp. Raised by National Bank Financial (NYSE:WPM)

Wheaton Precious Metals Corp. (NYSE:WPM) – National Bank Financial lifted their Q3 2024 earnings estimates for Wheaton Precious Metals in a report issued on Thursday, August 8th. National Bank Financial analyst S. Nagle now anticipates that the company will post earnings per share of $0.35 for the quarter, up from their prior forecast of $0.34. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.38 per share. National Bank Financial also issued estimates for Wheaton Precious Metals’ FY2024 earnings at $1.38 EPS.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. The business had revenue of $299.06 million for the quarter, compared to analyst estimates of $309.54 million. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 earnings per share.

WPM has been the subject of several other research reports. Bank of America boosted their price objective on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Scotiabank boosted their price objective on shares of Wheaton Precious Metals from $59.00 to $66.50 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. Jefferies Financial Group boosted their price objective on shares of Wheaton Precious Metals from $62.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, July 12th. CIBC boosted their price target on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Finally, Berenberg Bank boosted their price target on shares of Wheaton Precious Metals from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $65.00.

Wheaton Precious Metals Stock Performance

Shares of WPM stock opened at $58.19 on Monday. The firm has a market cap of $26.40 billion, a price-to-earnings ratio of 44.76, a P/E/G ratio of 2.08 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. The firm’s 50-day simple moving average is $56.04 and its two-hundred day simple moving average is $51.53.

Wheaton Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st will be issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $0.62 dividend on an annualized basis and a yield of 1.07%. Wheaton Precious Metals’s dividend payout ratio is currently 47.69%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WPM. AdvisorNet Financial Inc grew its position in shares of Wheaton Precious Metals by 6.1% in the 2nd quarter. AdvisorNet Financial Inc now owns 3,330 shares of the company’s stock worth $175,000 after buying an additional 190 shares during the period. Capital International Inc. CA grew its position in shares of Wheaton Precious Metals by 2.5% in the 1st quarter. Capital International Inc. CA now owns 8,308 shares of the company’s stock worth $392,000 after buying an additional 204 shares during the period. Western Pacific Wealth Management LP grew its position in shares of Wheaton Precious Metals by 19.6% in the 1st quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock worth $63,000 after buying an additional 218 shares during the period. Brookstone Capital Management grew its position in shares of Wheaton Precious Metals by 5.3% in the 1st quarter. Brookstone Capital Management now owns 4,771 shares of the company’s stock worth $225,000 after buying an additional 240 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its position in shares of Wheaton Precious Metals by 25.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,231 shares of the company’s stock worth $65,000 after buying an additional 253 shares during the period. 70.34% of the stock is currently 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.