Wheaton Precious Metals (NYSE:WPM) Releases Quarterly Earnings Results, Beats Expectations By $0.31 EPS

Wheaton Precious Metals (NYSE:WPM) released its quarterly earnings results on Thursday. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $0.91 by $0.31, Briefing.com reports. Wheaton Precious Metals had a return on equity of 13.32% and a net margin of 54.72%.The business’s revenue was up 127.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.44 EPS.

Wheaton Precious Metals Trading Down 1.8%

Shares of WPM traded down $2.72 during trading hours on Thursday, hitting $145.95. 2,134,366 shares of the stock traded hands, compared to its average volume of 1,961,050. The firm has a market capitalization of $66.27 billion, a PE ratio of 66.37, a price-to-earnings-growth ratio of 2.22 and a beta of 0.50. Wheaton Precious Metals has a 1-year low of $68.03 and a 1-year high of $165.76. The business has a fifty day moving average of $142.48 and a 200-day moving average of $119.02.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WPM. UBS Group reaffirmed a “neutral” rating and set a $158.00 target price on shares of Wheaton Precious Metals in a research report on Friday, January 30th. Zacks Research downgraded Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. Jefferies Financial Group reiterated a “buy” rating and issued a $145.00 target price on shares of Wheaton Precious Metals in a report on Sunday, December 7th. Wall Street Zen upgraded shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research report on Sunday, January 18th. Finally, Scotiabank reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Wheaton Precious Metals in a research note on Monday, January 26th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $140.44.

Institutional Trading of Wheaton Precious Metals

Institutional investors have recently made changes to their positions in the business. Qube Research & Technologies Ltd boosted its stake in shares of Wheaton Precious Metals by 1,655.4% during the third quarter. Qube Research & Technologies Ltd now owns 1,245,766 shares of the company’s stock valued at $139,333,000 after purchasing an additional 1,174,799 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Wheaton Precious Metals by 2,621.8% during the fourth quarter. AQR Capital Management LLC now owns 903,678 shares of the company’s stock valued at $106,239,000 after acquiring an additional 870,476 shares in the last quarter. Bank of Montreal Can lifted its position in Wheaton Precious Metals by 9.4% in the 4th quarter. Bank of Montreal Can now owns 7,061,090 shares of the company’s stock valued at $830,134,000 after acquiring an additional 605,415 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Wheaton Precious Metals by 12.8% during the second quarter. Bank of America Corp DE now owns 4,481,459 shares of the company’s stock valued at $402,435,000 after purchasing an additional 507,577 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in Wheaton Precious Metals by 17.2% during the fourth quarter. Invesco Ltd. now owns 2,474,126 shares of the company’s stock worth $290,759,000 after acquiring an additional 363,699 shares during the period. Institutional investors own 70.34% of the company’s stock.

About Wheaton Precious Metals

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.