Research Analysts Issue Forecasts for Wheaton Precious Metals Corp.’s Q3 2024 Earnings (NYSE:WPM)

Wheaton Precious Metals Corp. (NYSE:WPM) – Research analysts at Zacks Research boosted their Q3 2024 EPS estimates for Wheaton Precious Metals in a research note issued to investors on Wednesday, October 9th. Zacks Research analyst M. Das now expects that the company will post earnings of $0.36 per share for the quarter, up from their prior estimate of $0.34. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.43 per share. Zacks Research also issued estimates for Wheaton Precious Metals’ Q4 2024 earnings at $0.37 EPS, FY2024 earnings at $1.41 EPS, Q1 2025 earnings at $0.38 EPS, Q2 2025 earnings at $0.40 EPS, Q3 2025 earnings at $0.39 EPS, Q4 2025 earnings at $0.39 EPS, FY2025 earnings at $1.55 EPS, Q1 2026 earnings at $0.40 EPS, Q2 2026 earnings at $0.41 EPS, Q3 2026 earnings at $0.38 EPS and FY2026 earnings at $1.60 EPS.

WPM has been the topic of a number of other reports. Scotiabank increased their price target on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Jefferies Financial Group increased their price target on Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Bank of America boosted their price target on Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. National Bank Financial raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Finally, Berenberg Bank raised their price target on shares of Wheaton Precious Metals from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Wheaton Precious Metals currently has an average rating of “Buy” and a consensus price target of $69.88.

Wheaton Precious Metals Price Performance

WPM stock opened at $60.91 on Monday. The company has a 50 day moving average price of $60.37 and a 200 day moving average price of $56.71. The stock has a market capitalization of $27.63 billion, a PE ratio of 48.34, a price-to-earnings-growth ratio of 2.20 and a beta of 0.78. Wheaton Precious Metals has a fifty-two week low of $38.57 and a fifty-two week high of $64.82.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The company had revenue of $299.06 million for the quarter, compared to the consensus estimate of $309.54 million. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.31 earnings per share.

Institutional Investors Weigh In On Wheaton Precious Metals

Large investors have recently made changes to their positions in the business. Ridgewood Investments LLC bought a new stake in shares of Wheaton Precious Metals in the 2nd quarter worth approximately $31,000. Abich Financial Wealth Management LLC purchased a new position in shares of Wheaton Precious Metals during the 2nd quarter valued at about $31,000. Sunbelt Securities Inc. bought a new stake in Wheaton Precious Metals during the second quarter valued at about $47,000. St. Johns Investment Management Company LLC purchased a new stake in Wheaton Precious Metals during the 1st quarter valued at approximately $52,000. Finally, Western Pacific Wealth Management LP boosted its holdings in shares of Wheaton Precious Metals by 19.6% during the 1st quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock valued at $63,000 after purchasing an additional 218 shares during the last quarter. 70.34% of the stock is currently owned by institutional investors.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date was Wednesday, August 21st. Wheaton Precious Metals’s payout ratio is currently 49.21%.

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.