Scotiabank Has Positive Estimate for TSE:WPM FY2024 Earnings

Wheaton Precious Metals Corp. (TSE:WPM) – Research analysts at Scotiabank upped their FY2024 earnings estimates for shares of Wheaton Precious Metals in a research report issued on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now anticipates that the company will post earnings of $2.08 per share for the year, up from their prior estimate of $1.81. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $2.47 per share. Scotiabank also issued estimates for Wheaton Precious Metals’ FY2025 earnings at $2.72 EPS and FY2026 earnings at $2.88 EPS.

WPM has been the topic of several other research reports. National Bank Financial upgraded Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 9th. Stifel Nicolaus increased their target price on Wheaton Precious Metals from C$90.00 to C$102.00 in a report on Monday, October 21st. Eight Capital boosted their price target on shares of Wheaton Precious Metals from C$95.00 to C$100.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. UBS Group raised shares of Wheaton Precious Metals to a “strong-buy” rating in a research note on Monday, November 18th. Finally, National Bankshares upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from C$90.00 to C$105.00 in a report on Thursday, October 10th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Wheaton Precious Metals currently has an average rating of “Buy” and a consensus target price of C$97.67.

Wheaton Precious Metals Stock Performance

Shares of WPM opened at C$81.73 on Monday. The firm has a market cap of C$37.08 billion, a PE ratio of 47.24 and a beta of 0.70. Wheaton Precious Metals has a 52-week low of C$52.15 and a 52-week high of C$94.84. The business’s 50 day moving average price is C$85.23 and its two-hundred day moving average price is C$83.26.

Wheaton Precious Metals Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, December 6th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Thursday, November 21st. Wheaton Precious Metals’s dividend payout ratio is currently 48.55%.

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.