Q3 2024 Earnings Estimate for Wheaton Precious Metals Corp. Issued By Raymond James (NYSE:WPM)

Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) - Stock analysts at Raymond James raised their Q3 2024 EPS estimates for shares of Wheaton Precious Metals in a report issued on Monday, September 23rd. Raymond James analyst B. Macarthur now anticipates that the company will post earnings per share of $0.40 for the quarter, up from their previous estimate of $0.37. Raymond James has a "Outperform" rating and a $72.00 price objective on the stock. The consensus estimate for Wheaton Precious Metals' current full-year earnings is $1.41 per share. Raymond James also issued estimates for Wheaton Precious Metals' FY2024 earnings at $1.44 EPS, Q1 2025 earnings at $0.44 EPS, Q2 2025 earnings at $0.46 EPS, Q3 2025 earnings at $0.48 EPS and Q4 2025 earnings at $0.50 EPS.

WPM has been the topic of several other reports. Jefferies Financial Group raised their price target on shares of Wheaton Precious Metals from $62.00 to $67.00 and gave the stock a "buy" rating in a research note on Friday, July 12th. 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 report on Monday, August 19th. CIBC lifted their price objective on Wheaton Precious Metals from $75.00 to $80.00 and gave the company an "outperformer" rating in a research report on Wednesday, July 10th. Berenberg Bank increased their target price on Wheaton Precious Metals from $64.00 to $66.00 and gave the stock a "buy" rating in a research report on Thursday, June 27th. Finally, Bank of America lifted their price target on Wheaton Precious Metals from $60.00 to $61.00 and gave the company a "buy" rating in a report on Wednesday, June 26th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, Wheaton Precious Metals has a consensus rating of "Moderate Buy" and an average price target of $69.06.

Wheaton Precious Metals Trading Up 1.1 %

Shares of NYSE:WPM traded up $0.67 on Wednesday, hitting $64.14. The company had a trading volume of 2,557,118 shares, compared to its average volume of 1,783,673. The company has a market cap of $29.10 billion, a PE ratio of 49.41, a PEG ratio of 2.27 and a beta of 0.78. The business has a 50 day moving average of $59.81 and a 200 day moving average of $55.11. Wheaton Precious Metals has a 52-week low of $38.37 and a 52-week high of $64.48.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.04. The firm had revenue of $299.06 million for the quarter, compared to analyst estimates of $309.54 million. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. Wheaton Precious Metals's revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.31 EPS.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. TD Asset Management Inc boosted its stake in shares of Wheaton Precious Metals by 71.2% in the first quarter. TD Asset Management Inc now owns 4,857,837 shares of the company's stock valued at $229,026,000 after purchasing an additional 2,019,722 shares during the period. AMF Tjanstepension AB grew its stake in shares of Wheaton Precious Metals by 593.5% during the second quarter. AMF Tjanstepension AB now owns 1,608,134 shares of the company's stock valued at $84,388,000 after acquiring an additional 1,376,231 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Wheaton Precious Metals by 31.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,672,800 shares of the company's stock worth $272,975,000 after acquiring an additional 1,342,264 shares during the last quarter. Barings LLC acquired a new position in shares of Wheaton Precious Metals in the second quarter worth about $65,405,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Wheaton Precious Metals by 16.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,309,175 shares of the company's stock worth $344,483,000 after acquiring an additional 1,010,307 shares in the last quarter. Institutional investors and hedge funds own 70.34% of the company's stock.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors 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 annualized dividend and a dividend yield of 0.97%. Wheaton Precious Metals's payout ratio is 47.69%.

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.