Edison Inv. Res Has Bearish Estimate for WPM FY2024 Earnings

Wheaton Precious Metals Corp. (NYSE:WPM) – Investment analysts at Edison Inv. Res dropped their FY2024 earnings estimates for shares of Wheaton Precious Metals in a report released on Wednesday, December 11th. Edison Inv. Res analyst C. Gibson now anticipates that the company will earn $1.44 per share for the year, down from their prior forecast of $1.45. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.44 per share. Edison Inv. Res also issued estimates for Wheaton Precious Metals’ FY2026 earnings at $1.52 EPS.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, meeting the consensus estimate 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 analyst estimates of $324.57 million. During the same period in the previous year, the company posted $0.27 earnings per share.

WPM has been the topic of a number of other research reports. National Bank Financial upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Stifel Canada downgraded Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Jefferies Financial Group upped their price objective 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. UBS Group assumed coverage on Wheaton Precious Metals in a report on Monday, November 18th. They issued a “buy” rating and a $78.00 target price on the stock. Finally, Scotiabank boosted their price target 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. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $71.67.

Wheaton Precious Metals Stock Down 1.4 %

NYSE:WPM opened at $60.56 on Friday. The stock has a market cap of $27.47 billion, a price-to-earnings ratio of 45.19, a PEG ratio of 1.77 and a beta of 0.75. The company’s 50 day moving average price is $62.99 and its 200-day moving average price is $59.79. Wheaton Precious Metals has a 52 week low of $38.57 and a 52 week high of $68.64.

Wheaton Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Thursday, November 21st were issued a $0.155 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.62 annualized dividend and a dividend yield of 1.02%. Wheaton Precious Metals’s dividend payout ratio is presently 46.27%.

Institutional Investors Weigh In On Wheaton Precious Metals

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp increased its holdings in Wheaton Precious Metals by 1.0% in the 2nd quarter. Van ECK Associates Corp now owns 19,984,984 shares of the company’s stock valued at $1,047,621,000 after purchasing an additional 197,426 shares during the last quarter. FMR LLC grew its stake in shares of Wheaton Precious Metals by 33.7% in the third quarter. FMR LLC now owns 14,665,913 shares of the company’s stock valued at $895,723,000 after buying an additional 3,692,594 shares in the last quarter. TD Asset Management Inc raised its stake in Wheaton Precious Metals by 22.5% during the 2nd quarter. TD Asset Management Inc now owns 5,950,317 shares of the company’s stock worth $311,920,000 after acquiring an additional 1,092,480 shares in the last quarter. Cibc World Market Inc. lifted its position in Wheaton Precious Metals by 3.1% in the second quarter. Cibc World Market Inc. now owns 3,574,648 shares of the company’s stock valued at $187,490,000 after acquiring an additional 108,976 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Wheaton Precious Metals by 22.5% in the third quarter. The Manufacturers Life Insurance Company now owns 3,456,230 shares of the company’s stock valued at $211,207,000 after acquiring an additional 634,843 shares in the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.

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.