Stifel Canada Brokers Lift Earnings Estimates for TSE:WPM

Wheaton Precious Metals Corp. (TSE:WPM) – Research analysts at Stifel Canada lifted their FY2024 earnings estimates for Wheaton Precious Metals in a note issued to investors on Monday, October 21st. Stifel Canada analyst I. Rico now expects that the company will post earnings per share of $1.97 for the year, up from their previous estimate of $1.95. Stifel Canada has a “Hold” rating on the stock. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $2.47 per share.

Wheaton Precious Metals (TSE:WPM) last issued its quarterly earnings data on Wednesday, August 7th. The company reported C$0.45 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.39 by C$0.06. The firm had revenue of C$409.19 million during the quarter, compared to analyst estimates of C$400.03 million. Wheaton Precious Metals had a return on equity of 8.16% and a net margin of 50.44%.

Other research analysts have also issued reports about the stock. National Bank Financial raised shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 9th. Eight Capital boosted their target price on shares of Wheaton Precious Metals from C$95.00 to C$100.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. National Bankshares raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and increased their price target for the company from C$90.00 to C$105.00 in a report on Thursday, October 10th. Stifel Nicolaus upped their price objective on Wheaton Precious Metals from C$90.00 to C$102.00 in a research report on Monday. Finally, Peel Hunt raised their price objective on Wheaton Precious Metals from C$82.00 to C$95.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the 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 Price Performance

TSE WPM opened at C$93.00 on Wednesday. Wheaton Precious Metals has a 1-year low of C$52.15 and a 1-year high of C$94.84. The business has a 50 day simple moving average of C$84.19 and a two-hundred day simple moving average of C$78.63. The stock has a market capitalization of C$42.19 billion, a PE ratio of 53.76 and a beta of 0.70.

Wheaton Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were paid a dividend of $0.214 per share. This represents a $0.86 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend was Wednesday, August 21st. Wheaton Precious Metals’s dividend payout ratio is currently 48.55%.

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.