Wheaton Precious Metals (NYSE:WPM) Downgraded by Stifel Canada

Stifel Canada lowered shares of Wheaton Precious Metals (NYSE:WPM - Free Report) from a strong-buy rating to a hold rating in a report released on Monday, Zacks.com reports. Stifel Canada also issued estimates for Wheaton Precious Metals' FY2024 earnings at $1.43 EPS.

WPM has been the subject of several other research reports. CIBC increased their price objective on Wheaton Precious Metals from $75.00 to $80.00 and gave the company an "outperformer" rating in a report on Wednesday, July 10th. Jefferies Financial Group boosted their target price 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. TD Securities decreased their price target on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a "buy" rating for the company in a report on Thursday, August 15th. National Bank Financial raised Wheaton Precious Metals from a "sector perform" rating to an "outperform" rating in a research report on Thursday, October 10th. Finally, Raymond James boosted their price target on Wheaton Precious Metals from $70.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday, September 25th. One research 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.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $69.88.

Wheaton Precious Metals Trading Down 1.6 %

Shares of NYSE WPM traded down $1.08 during trading hours on Monday, reaching $67.45. The stock had a trading volume of 1,323,492 shares, compared to its average volume of 1,762,200. Wheaton Precious Metals has a 52-week low of $38.57 and a 52-week high of $68.64. The firm has a market cap of $30.60 billion, a price-to-earnings ratio of 54.39, a P/E/G ratio of 2.45 and a beta of 0.78. The business's fifty day moving average price is $61.49 and its two-hundred day moving average price is $57.37.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.04. The business had revenue of $299.06 million during the quarter, compared to analysts' expectations of $309.54 million. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The business's revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.31 EPS. Equities research analysts anticipate that Wheaton Precious Metals will post 1.44 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were paid a dividend of $0.155 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.92%. Wheaton Precious Metals's dividend payout ratio (DPR) is 49.21%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in WPM. Ridgewood Investments LLC acquired a new stake in shares of Wheaton Precious Metals in the second quarter valued at approximately $31,000. Abich Financial Wealth Management LLC purchased a new position in shares of Wheaton Precious Metals during the second quarter valued at approximately $31,000. Sunbelt Securities Inc. purchased a new position in shares of Wheaton Precious Metals during the second quarter valued at approximately $47,000. St. Johns Investment Management Company LLC purchased a new position in shares of Wheaton Precious Metals during the first quarter valued at approximately $52,000. Finally, Western Pacific Wealth Management LP lifted its stake in shares of Wheaton Precious Metals by 19.6% during the first quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company's stock valued at $63,000 after buying 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.