Wheaton Precious Metals Corp. Forecasted to Post Q1 2024 Earnings of $0.45 Per Share (TSE:WPM)

Wheaton Precious Metals Corp. (TSE:WPM) – Analysts at Raymond James increased their Q1 2024 earnings estimates for shares of Wheaton Precious Metals in a note issued to investors on Monday, April 22nd. Raymond James analyst B. Macarthur now forecasts that the company will post earnings of $0.45 per share for the quarter, up from their previous forecast of $0.43. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.55 per share.

Wheaton Precious Metals (TSE:WPM) last issued its earnings results on Thursday, March 14th. The company reported C$0.49 EPS for the quarter, beating the consensus estimate of C$0.42 by C$0.07. The company had revenue of C$426.80 million during the quarter, compared to analysts’ expectations of C$381.95 million. Wheaton Precious Metals had a net margin of 52.92% and a return on equity of 7.85%.

WPM has been the subject of several other research reports. Canaccord Genuity Group upped their target price on shares of Wheaton Precious Metals from C$80.00 to C$90.00 in a research report on Tuesday. Veritas Investment Research upped their target price on shares of Wheaton Precious Metals from C$67.00 to C$84.00 in a research report on Friday, April 12th. National Bank Financial cut shares of Wheaton Precious Metals from an “outperform market weight” rating to a “sector perform overweight” rating in a research report on Wednesday, February 21st. Eight Capital upped their price objective on shares of Wheaton Precious Metals from C$82.50 to C$85.00 and gave the company a “buy” rating in a research report on Monday. Finally, Stifel Nicolaus upped their price objective on shares of Wheaton Precious Metals from C$72.00 to C$80.00 and gave the company a “buy” rating in a research report on Friday, April 19th.

Wheaton Precious Metals Stock Up 0.5 %

Shares of Wheaton Precious Metals stock opened at C$71.99 on Thursday. The company’s fifty day simple moving average is C$63.46. The company has a market cap of C$32.62 billion, a PE ratio of 44.99 and a beta of 0.66. Wheaton Precious Metals has a 52 week low of C$52.15 and a 52 week high of C$74.72.

Insider Activity at Wheaton Precious Metals

In related news, Senior Officer Patrick Eugene Drouin sold 18,640 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of C$62.02, for a total value of C$1,156,052.80. In related news, Senior Officer Gary Duncan Brown sold 1,857 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of C$58.96, for a total value of C$109,491.69. Also, Senior Officer Patrick Eugene Drouin sold 18,640 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of C$62.02, for a total transaction of C$1,156,052.80. Insiders sold a total of 20,664 shares of company stock worth $1,272,782 in the last quarter. Corporate insiders own 0.17% of the company’s stock.

Wheaton Precious Metals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 15th were given a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, April 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.17%. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.15. Wheaton Precious Metals’s dividend payout ratio is currently 52.50%.

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.