Zacks Research Issues Optimistic Estimate for WPM Earnings

Wheaton Precious Metals Corp. (NYSE:WPM) – Zacks Research increased their Q4 2024 earnings per share (EPS) estimates for Wheaton Precious Metals in a research note issued to investors on Thursday, November 14th. Zacks Research analyst M. Das now expects that the company will earn $0.38 per share for the quarter, up from their prior estimate of $0.37. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.44 per share.

Other research analysts also recently issued research reports about the company. National Bank Financial raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Raymond James lifted their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. TD Securities lifted their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Scotiabank lifted their price objective on 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. Finally, UBS Group assumed coverage on Wheaton Precious Metals in a research report on Monday. They set a “buy” rating and a $78.00 price objective on the stock. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $71.67.

Wheaton Precious Metals Stock Performance

WPM stock opened at $62.60 on Monday. Wheaton Precious Metals has a fifty-two week low of $38.57 and a fifty-two week high of $68.64. The business’s 50-day moving average is $62.87 and its two-hundred day moving average is $59.00. The company has a market cap of $28.40 billion, a price-to-earnings ratio of 46.72, a P/E/G ratio of 2.14 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.34. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The company had revenue of $308.25 million for the quarter, compared to the consensus estimate of $324.57 million. During the same quarter in the prior year, the company earned $0.27 earnings per share.

Hedge Funds Weigh In On Wheaton Precious Metals

Large investors have recently modified their holdings of the stock. Well Done LLC increased its position in shares of Wheaton Precious Metals by 173.9% during the 3rd quarter. Well Done LLC now owns 38,108 shares of the company’s stock valued at $2,328,000 after purchasing an additional 24,196 shares during the last quarter. Lighthouse Investment Partners LLC bought a new position in shares of Wheaton Precious Metals during the 2nd quarter valued at approximately $1,016,000. Vanguard Group Inc. increased its position in shares of Wheaton Precious Metals by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 16,770,475 shares of the company’s stock valued at $790,392,000 after purchasing an additional 272,918 shares during the last quarter. Natixis bought a new position in shares of Wheaton Precious Metals during the 1st quarter valued at approximately $529,000. Finally, CIBC Asset Management Inc increased its position in shares of Wheaton Precious Metals by 10.6% during the 3rd quarter. CIBC Asset Management Inc now owns 2,273,160 shares of the company’s stock valued at $140,099,000 after purchasing an additional 218,575 shares during the last quarter. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 21st will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Thursday, November 21st. Wheaton Precious Metals’s payout ratio is 46.27%.

About Wheaton Precious Metals

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.