Stifel Canada Has Negative Forecast for WPM Q3 Earnings

Wheaton Precious Metals Corp. (NYSE:WPM) – Stifel Canada reduced their Q3 2024 earnings 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 earn $0.33 per share for the quarter, down from their prior 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 $1.44 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 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. The company had revenue of $299.06 million during the quarter, compared to analyst estimates of $309.54 million. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The firm’s revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.31 earnings per share.

Other analysts also recently issued research reports about the stock. TD Securities lowered their price objective on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. 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. Berenberg Bank upped their price objective 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 lifted their target price on Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Finally, Bank of America increased their price target on Wheaton Precious Metals from $60.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $69.88.

Wheaton Precious Metals Stock Performance

WPM stock opened at $67.45 on Thursday. The stock has a 50-day simple moving average of $61.69 and a 200-day simple moving average of $57.44. The firm has a market cap of $30.60 billion, a P/E ratio of 53.53, a price-to-earnings-growth ratio of 2.45 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.

Hedge Funds Weigh In On Wheaton Precious Metals

Large investors have recently bought and sold shares of the business. AdvisorNet Financial Inc raised its position in shares of Wheaton Precious Metals by 6.1% during the 2nd quarter. AdvisorNet Financial Inc now owns 3,330 shares of the company’s stock worth $175,000 after purchasing an additional 190 shares during the period. Vontobel Holding Ltd. increased its position in Wheaton Precious Metals by 0.6% in the third quarter. Vontobel Holding Ltd. now owns 34,558 shares of the company’s stock worth $2,110,000 after buying an additional 197 shares during the period. Capital International Inc. CA lifted its stake in Wheaton Precious Metals by 2.5% in the first quarter. Capital International Inc. CA now owns 8,308 shares of the company’s stock valued at $392,000 after buying an additional 204 shares during the last quarter. Western Pacific Wealth Management LP lifted its stake in Wheaton Precious Metals by 19.6% in the first quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock valued at $63,000 after buying an additional 218 shares during the last quarter. Finally, Brookstone Capital Management boosted its holdings in shares of Wheaton Precious Metals by 5.3% during the first quarter. Brookstone Capital Management now owns 4,771 shares of the company’s stock valued at $225,000 after acquiring an additional 240 shares during the period. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were paid 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 yield of 0.92%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 49.21%.

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.