Equities Analysts Set Expectations for WPM FY2024 Earnings

Wheaton Precious Metals Corp. (NYSE:WPM) – Stock analysts at Edison Inv. Res reduced their FY2024 earnings estimates for Wheaton Precious Metals in a research report issued on Wednesday, December 11th. Edison Inv. Res analyst C. Gibson now forecasts that the company will post earnings of $1.44 per share for the year, down from their prior 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.

Several other equities research analysts have also recently issued reports on the company. Stifel Canada cut Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. TD Securities boosted their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Jefferies Financial Group increased their price objective on Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Scotiabank upped their target price on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Finally, 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. One research 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 has an average rating of “Moderate Buy” and an average target price of $71.67.

Wheaton Precious Metals Price Performance

Wheaton Precious Metals stock opened at $61.39 on Friday. The stock has a market capitalization of $27.85 billion, a PE ratio of 45.81, a price-to-earnings-growth ratio of 1.77 and a beta of 0.75. The business has a 50 day simple moving average of $62.99 and a 200-day simple moving average of $59.74. Wheaton Precious Metals has a 12 month low of $38.57 and a 12 month high of $68.64.

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

Hedge Funds Weigh In On Wheaton Precious Metals

A number of institutional investors have recently modified their holdings of WPM. Ridgewood Investments LLC purchased a new stake in Wheaton Precious Metals in the 2nd quarter worth approximately $31,000. Abich Financial Wealth Management LLC acquired a new stake in shares of Wheaton Precious Metals during the second quarter worth $31,000. Sunbelt Securities Inc. purchased a new stake in shares of Wheaton Precious Metals in the second quarter valued at $47,000. St. Johns Investment Management Company LLC acquired a new position in Wheaton Precious Metals in the third quarter valued at $48,000. Finally, Dunhill Financial LLC lifted its position in Wheaton Precious Metals by 200.9% during the third quarter. Dunhill Financial LLC now owns 1,050 shares of the company’s stock worth $64,000 after buying an additional 701 shares during the period. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Thursday, November 21st were issued a $0.155 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.01%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 46.27%.

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.