Raymond James Has Strong Estimate for WPM FY2024 Earnings

Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) - Stock analysts at Raymond James increased their FY2024 earnings estimates for Wheaton Precious Metals in a research note issued on Thursday, January 30th. Raymond James analyst B. Macarthur now forecasts that the company will earn $1.43 per share for the year, up from their previous estimate of $1.37. Raymond James currently has a "Outperform" rating and a $75.00 price target on the stock. The consensus estimate for Wheaton Precious Metals' current full-year earnings is $1.46 per share. Raymond James also issued estimates for Wheaton Precious Metals' Q4 2024 earnings at $0.45 EPS, Q1 2025 earnings at $0.42 EPS, Q2 2025 earnings at $0.44 EPS, Q3 2025 earnings at $0.44 EPS, Q4 2025 earnings at $0.45 EPS and FY2025 earnings at $1.75 EPS.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, meeting 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 firm had revenue of $308.25 million for the quarter, compared to analyst estimates of $324.57 million. During the same quarter in the prior year, the business earned $0.27 earnings per share.

Several other equities research analysts have also recently weighed in on WPM. UBS Group started coverage on Wheaton Precious Metals in a research report on Monday, November 18th. They set a "buy" rating and a $78.00 price target on the stock. National Bank Financial raised Wheaton Precious Metals from a "sector perform" rating to an "outperform" rating in a report on Thursday, October 10th. Stifel Canada cut shares of Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 21st. Finally, TD Securities upped their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company a "buy" rating in a report on Friday, November 8th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Wheaton Precious Metals presently has a consensus rating of "Moderate Buy" and an average target price of $71.67.

Wheaton Precious Metals Trading Up 3.0 %

Wheaton Precious Metals stock traded up $1.90 during trading on Monday, hitting $65.92. 2,210,097 shares of the company were exchanged, compared to its average volume of 1,412,941. The business's 50 day moving average is $59.39 and its 200 day moving average is $60.67. The company has a market capitalization of $29.91 billion, a P/E ratio of 49.19, a PEG ratio of 1.61 and a beta of 0.77. Wheaton Precious Metals has a 52 week low of $38.57 and a 52 week high of $68.64.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Thursday, November 21st were paid a $0.155 dividend. The ex-dividend date was Thursday, November 21st. This represents a $0.62 dividend on an annualized basis and a yield of 0.94%. Wheaton Precious Metals's dividend payout ratio (DPR) is 46.27%.

Institutional Investors Weigh In On Wheaton Precious Metals

A number of hedge funds and other institutional investors have recently made changes to their positions in WPM. Versant Capital Management Inc purchased a new position in Wheaton Precious Metals in the 4th quarter worth approximately $29,000. Laurel Wealth Advisors LLC acquired a new position in Wheaton Precious Metals during the 4th quarter worth $39,000. GAMMA Investing LLC acquired a new stake in Wheaton Precious Metals in the 4th quarter valued at about $41,000. St. Johns Investment Management Company LLC acquired a new position in shares of Wheaton Precious Metals during the third quarter worth about $48,000. Finally, Kestra Investment Management LLC purchased a new position in Wheaton Precious Metals in the fourth quarter worth approximately $53,000. Institutional investors and hedge funds own 70.34% of the company's stock.

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.