Edison Inv. Res Has Negative Outlook of WPM FY2024 Earnings

Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) - Stock analysts at Edison Inv. Res dropped their FY2024 earnings per share estimates for shares of Wheaton Precious Metals in a research report issued to clients and investors on Monday, November 11th. Edison Inv. Res analyst C. Gibson now forecasts that the company will post earnings per share of $1.45 for the year, down from their previous estimate of $1.46. 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 $1.50 EPS.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its earnings results on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, hitting the consensus estimate of $0.34. The business had revenue of $308.25 million for the quarter, compared to analyst estimates of $324.57 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. During the same quarter last year, the company earned $0.27 EPS.

WPM has been the subject of a number of other reports. Scotiabank upped their target price on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the company a "sector outperform" rating in a report on Monday, August 19th. National Bank Financial upgraded Wheaton Precious Metals from a "sector perform" rating to an "outperform" rating in a research note on Thursday, October 10th. TD Securities upped their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Raymond James lifted 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, Stifel Canada downgraded shares of Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 21st. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, Wheaton Precious Metals presently has a consensus rating of "Moderate Buy" and an average price target of $70.88.

Wheaton Precious Metals Trading Up 0.5 %

Shares of Wheaton Precious Metals stock traded up $0.28 during trading on Thursday, reaching $59.32. The company's stock had a trading volume of 878,316 shares, compared to its average volume of 1,771,343. The firm has a market cap of $26.91 billion, a PE ratio of 44.07, a P/E/G ratio of 2.17 and a beta of 0.77. The company has a 50-day moving average price of $62.76 and a two-hundred day moving average price of $58.75. Wheaton Precious Metals has a fifty-two week low of $38.57 and a fifty-two week high of $68.64.

Wheaton Precious Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Thursday, November 21st will be given a $0.155 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.62 dividend on an annualized basis and a yield of 1.05%. Wheaton Precious Metals's payout ratio is currently 46.27%.

Institutional Investors Weigh In On Wheaton Precious Metals

A number of hedge funds and other institutional investors have recently modified their holdings of WPM. Ridgewood Investments LLC acquired a new stake in shares of Wheaton Precious Metals during the 2nd quarter valued at approximately $31,000. Abich Financial Wealth Management LLC acquired a new stake in shares of Wheaton Precious Metals during the 2nd quarter valued at approximately $31,000. Sunbelt Securities Inc. acquired a new stake in shares of Wheaton Precious Metals during the 2nd quarter valued at approximately $47,000. St. Johns Investment Management Company LLC acquired a new stake in shares of Wheaton Precious Metals during the 3rd quarter valued at approximately $48,000. Finally, Western Pacific Wealth Management LP lifted its position in shares of Wheaton Precious Metals by 19.6% during the 1st quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company's stock valued at $63,000 after acquiring an additional 218 shares during the period. 70.34% of the stock is currently owned by institutional investors and hedge funds.

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.