Edison Inv. Res Has Bearish Estimate for WPM FY2024 Earnings

Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) - Stock analysts at Edison Inv. Res dropped their FY2024 earnings estimates for shares of Wheaton Precious Metals in a note issued to investors on Wednesday, December 11th. Edison Inv. Res analyst C. Gibson now anticipates that the company will post earnings of $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 - Get Free Report) last released 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. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The business had revenue of $308.25 million for the quarter, compared to the consensus estimate of $324.57 million. During the same period last year, the firm posted $0.27 earnings per share.

Other analysts have also recently issued research reports about the company. TD Securities raised their target price on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Jefferies Financial Group raised their price objective on Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a "buy" rating in a research report on Friday, October 4th. UBS Group began 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. Raymond James increased their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock 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 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 target price of $71.67.

Wheaton Precious Metals Price Performance

Wheaton Precious Metals stock traded down $0.84 during midday trading on Friday, reaching $60.56. The stock had a trading volume of 1,418,543 shares, compared to its average volume of 1,766,510. The firm's fifty day simple moving average is $62.99 and its two-hundred day simple moving average is $59.77. Wheaton Precious Metals has a twelve month low of $38.57 and a twelve month high of $68.64. The firm 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.

Wheaton Precious Metals Announces Dividend

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

Institutional Trading of Wheaton Precious Metals

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Insigneo Advisory Services LLC lifted its stake in shares of Wheaton Precious Metals by 2.2% in the third quarter. Insigneo Advisory Services LLC now owns 8,553 shares of the company's stock worth $522,000 after buying an additional 187 shares during the last quarter. AdvisorNet Financial Inc lifted its position in Wheaton Precious Metals by 6.1% during the 2nd quarter. AdvisorNet Financial Inc now owns 3,330 shares of the company's stock worth $175,000 after acquiring an additional 190 shares during the last quarter. Principal Financial Group Inc. lifted its position in Wheaton Precious Metals by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 19,761 shares of the company's stock worth $1,208,000 after acquiring an additional 196 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in Wheaton Precious Metals by 0.6% during the third quarter. Vontobel Holding Ltd. now owns 34,558 shares of the company's stock valued at $2,110,000 after acquiring an additional 197 shares during the period. Finally, Arkadios Wealth Advisors grew its position in shares of Wheaton Precious Metals by 1.0% in the third quarter. Arkadios Wealth Advisors now owns 21,575 shares of the company's stock valued at $1,318,000 after purchasing an additional 210 shares during the last quarter. Institutional investors and hedge funds own 70.34% of the company's stock.

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.