Scotiabank Has Positive Estimate for WPM FY2024 Earnings

Wheaton Precious Metals Corp. (NYSE:WPM) – Investment analysts at Scotiabank increased their FY2024 earnings per share (EPS) estimates for shares of Wheaton Precious Metals in a report issued on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now expects that the company will post earnings per share of $1.45 for the year, up from their previous forecast of $1.33. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.44 per share.

Several other research firms have also recently weighed in on WPM. TD Securities upped their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Stifel Canada cut shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Jefferies Financial Group increased their price target on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Raymond James boosted their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, National Bank Financial raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $71.67.

Wheaton Precious Metals Stock Performance

NYSE:WPM opened at $57.17 on Friday. Wheaton Precious Metals has a fifty-two week low of $38.57 and a fifty-two week high of $68.64. The company has a market cap of $25.94 billion, a price-to-earnings ratio of 42.66, a PEG ratio of 1.67 and a beta of 0.76. The stock has a fifty day moving average price of $60.41 and a 200-day moving average price of $60.22.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) 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 business had revenue of $308.25 million during the quarter, compared to analysts’ expectations of $324.57 million. During the same period in the previous year, the company posted $0.27 earnings per share.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc bought a new stake in shares of Wheaton Precious Metals in the 4th quarter valued at about $29,000. Abich Financial Wealth Management LLC acquired a new position in shares of Wheaton Precious Metals in the second quarter worth approximately $31,000. GAMMA Investing LLC bought a new stake in Wheaton Precious Metals in the fourth quarter valued at approximately $41,000. St. Johns Investment Management Company LLC acquired a new stake in Wheaton Precious Metals during the 3rd quarter valued at approximately $48,000. Finally, Sunbelt Securities Inc. bought a new position in Wheaton Precious Metals during the 2nd quarter worth approximately $47,000. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Thursday, November 21st were issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 1.08%. The ex-dividend date was Thursday, November 21st. Wheaton Precious Metals’s dividend payout ratio (DPR) is 46.27%.

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.