National Bank Financial Predicts WPM FY2024 Earnings

Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) - Analysts at National Bank Financial lifted their FY2024 EPS estimates for Wheaton Precious Metals in a note issued to investors on Tuesday, October 22nd. National Bank Financial analyst S. Nagle now anticipates that the company will earn $1.47 per share for the year, up from their prior estimate of $1.46. National Bank Financial currently has a "Outperform" rating on the stock. The consensus estimate for Wheaton Precious Metals' current full-year earnings is $1.45 per share.

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 for the quarter, beating the consensus estimate of $0.29 by $0.04. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. The firm had revenue of $299.06 million during the quarter, compared to the consensus estimate of $309.54 million. During the same quarter last year, the firm earned $0.31 EPS. The firm's revenue for the quarter was up 12.9% on a year-over-year basis.

Several other brokerages have also recently issued reports on WPM. TD Securities reduced their price target on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a "buy" rating on the stock in a research report on Thursday, August 15th. Raymond James raised their price target on shares of Wheaton Precious Metals from $70.00 to $72.00 and gave the company an "outperform" rating in a research report on Wednesday, September 25th. Berenberg Bank upped their price objective 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. Bank of America increased their price objective on Wheaton Precious Metals from $60.00 to $61.00 and gave the company a "buy" rating in a research note on Wednesday, June 26th. Finally, Jefferies Financial Group boosted their target price on Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a "buy" rating in a research note on Friday, October 4th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.88.

Wheaton Precious Metals Trading Down 0.4 %

WPM traded down $0.30 during mid-day trading on Thursday, hitting $67.13. 1,658,045 shares of the stock were exchanged, compared to its average volume of 1,761,734. The company has a market cap of $30.45 billion, a PE ratio of 51.64, a PEG ratio of 2.48 and a beta of 0.78. The firm's fifty day moving average is $61.87 and its two-hundred day moving average is $57.51. Wheaton Precious Metals has a 1-year low of $38.57 and a 1-year high of $68.64.

Institutional Investors Weigh In On Wheaton Precious Metals

Institutional investors have recently added to or reduced their stakes in the business. Investment Partners Asset Management Inc. boosted its stake in Wheaton Precious Metals by 5.1% in the third quarter. Investment Partners Asset Management Inc. now owns 10,803 shares of the company's stock valued at $660,000 after acquiring an additional 529 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in Wheaton Precious Metals by 4.9% in the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,607 shares of the company's stock valued at $281,000 after purchasing an additional 217 shares during the period. Canoe Financial LP purchased a new stake in Wheaton Precious Metals during the 3rd quarter valued at approximately $113,017,000. DekaBank Deutsche Girozentrale increased its holdings in shares of Wheaton Precious Metals by 1.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,628,243 shares of the company's stock valued at $101,927,000 after purchasing an additional 25,952 shares during the period. Finally, Benedict Financial Advisors Inc. purchased a new position in Wheaton Precious Metals during the 3rd quarter worth $225,000. Hedge funds and other institutional investors own 70.34% of the company's stock.

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 0.92%. The ex-dividend date was Wednesday, August 21st. Wheaton Precious Metals's dividend payout ratio (DPR) is presently 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.