National Bank Financial Comments on Wheaton Precious Metals Corp.’s Q3 2024 Earnings (NYSE:WPM)

Wheaton Precious Metals Corp. (NYSE:WPM) – Equities researchers at National Bank Financial increased their Q3 2024 earnings estimates for Wheaton Precious Metals in a research note issued to investors on Wednesday, October 9th. National Bank Financial analyst S. Nagle now expects that the company will earn $0.37 per share for the quarter, up from their previous estimate of $0.35. National Bank Financial currently has a “Outperform” rating on the stock. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.42 per share. National Bank Financial also issued estimates for Wheaton Precious Metals’ Q4 2024 earnings at $0.41 EPS and FY2024 earnings at $1.46 EPS.

A number of other equities research analysts have also weighed in on WPM. Bank of America boosted their price objective on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Scotiabank raised their price objective on Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. TD Securities lowered their target price on Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Raymond James increased their target price on Wheaton Precious Metals from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, September 25th. Finally, Berenberg Bank lifted their price target on Wheaton Precious Metals from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, Wheaton Precious Metals currently has an average rating of “Buy” and an average price target of $69.88.

Wheaton Precious Metals Price Performance

NYSE:WPM opened at $60.71 on Friday. Wheaton Precious Metals has a 1-year low of $38.57 and a 1-year high of $64.82. The business has a 50 day moving average of $60.27 and a 200 day moving average of $56.54. The company has a market capitalization of $27.53 billion, a price-to-earnings ratio of 46.70, a PEG ratio of 2.15 and a beta of 0.78.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results 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. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The business had revenue of $299.06 million for the quarter, compared to the consensus estimate of $309.54 million. During the same quarter last year, the business posted $0.31 earnings per share. The company’s revenue for the quarter was up 12.9% on a year-over-year basis.

Institutional Trading of Wheaton Precious Metals

Hedge funds have recently modified their holdings of the business. AdvisorNet Financial Inc raised its position in shares of Wheaton Precious Metals by 6.1% in the 2nd quarter. AdvisorNet Financial Inc now owns 3,330 shares of the company’s stock worth $175,000 after purchasing an additional 190 shares during the last quarter. Capital International Inc. CA increased its position in shares of Wheaton Precious Metals by 2.5% during the first quarter. Capital International Inc. CA now owns 8,308 shares of the company’s stock valued at $392,000 after acquiring an additional 204 shares in the last quarter. Western Pacific Wealth Management LP raised its holdings in Wheaton Precious Metals by 19.6% in the 1st quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock worth $63,000 after acquiring an additional 218 shares during the last quarter. Brookstone Capital Management lifted its position in Wheaton Precious Metals by 5.3% in the 1st quarter. Brookstone Capital Management now owns 4,771 shares of the company’s stock valued at $225,000 after acquiring an additional 240 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its stake in Wheaton Precious Metals by 25.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,231 shares of the company’s stock valued at $65,000 after purchasing an additional 253 shares during the last quarter. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were issued a dividend of $0.155 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.02%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 47.69%.

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.