Q1 2024 EPS Estimates for Wheaton Precious Metals Corp. Lifted by Raymond James (NYSE:WPM)

Wheaton Precious Metals Corp. (NYSE:WPM) – Research analysts at Raymond James lifted their Q1 2024 earnings per share estimates for Wheaton Precious Metals in a research note issued on Monday, April 22nd. Raymond James analyst B. Macarthur now anticipates that the company will post earnings per share of $0.33 for the quarter, up from their previous estimate of $0.32. Raymond James has a “Market Perform” rating and a $58.00 price objective on the stock. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.21 per share. Raymond James also issued estimates for Wheaton Precious Metals’ Q3 2024 earnings at $0.38 EPS and Q4 2024 earnings at $0.39 EPS.

A number of other analysts have also issued reports on the company. National Bank Financial lowered Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, February 21st. Jefferies Financial Group lifted their price target on Wheaton Precious Metals from $52.00 to $61.00 and gave the stock a “buy” rating in a research note on Monday. Scotiabank lowered their price objective on Wheaton Precious Metals from $60.00 to $59.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, February 28th. CIBC boosted their price objective on Wheaton Precious Metals from $66.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Finally, TD Securities raised Wheaton Precious Metals from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $51.00 to $53.00 in a research note on Monday, March 18th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $59.32.

Wheaton Precious Metals Price Performance

Shares of NYSE:WPM opened at $52.55 on Thursday. The business’s 50 day moving average price is $46.17 and its 200-day moving average price is $46.24. The firm has a market capitalization of $23.82 billion, a PE ratio of 44.16, a P/E/G ratio of 7.36 and a beta of 0.77. Wheaton Precious Metals has a 1 year low of $38.37 and a 1 year high of $54.30.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Thursday, March 14th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. The firm had revenue of $313.47 million for the quarter, compared to analyst estimates of $284.29 million. Wheaton Precious Metals had a return on equity of 7.76% and a net margin of 52.92%.

Wheaton Precious Metals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Wednesday, April 3rd were given a $0.155 dividend. The ex-dividend date was Tuesday, April 2nd. This represents a $0.62 dividend on an annualized basis and a yield of 1.18%. This is an increase from Wheaton Precious Metals’s previous quarterly dividend of $0.15. Wheaton Precious Metals’s payout ratio is currently 52.10%.

Institutional Investors Weigh In On Wheaton Precious Metals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WPM. CVA Family Office LLC purchased a new stake in shares of Wheaton Precious Metals in the 4th quarter valued at $26,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Wheaton Precious Metals in the 4th quarter valued at $31,000. Principal Securities Inc. purchased a new stake in shares of Wheaton Precious Metals in the 4th quarter valued at $39,000. Fifth Third Bancorp raised its holdings in shares of Wheaton Precious Metals by 230.7% in the 4th quarter. Fifth Third Bancorp now owns 863 shares of the company’s stock valued at $43,000 after buying an additional 602 shares during the period. Finally, Mechanics Financial Corp raised its holdings in shares of Wheaton Precious Metals by 200.0% in the 3rd quarter. Mechanics Financial Corp now owns 900 shares of the company’s stock valued at $36,000 after buying an additional 600 shares during the period. Hedge funds and other institutional investors own 70.34% of the company’s stock.

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.