Scotiabank Has Positive Outlook for WPM FY2024 Earnings

Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) - Analysts at Scotiabank boosted their FY2024 EPS estimates for shares of Wheaton Precious Metals in a research note issued on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now expects that the company will post earnings per share of $1.45 for the year, up from their previous estimate of $1.33. The consensus estimate for Wheaton Precious Metals' current full-year earnings is $1.44 per share.

A number of other research analysts have also recently issued reports on the stock. Stifel Canada cut shares of Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a report on Monday, October 21st. UBS Group assumed coverage on Wheaton Precious Metals in a research note on Monday, November 18th. They set a "buy" rating and a $78.00 price target for the company. Raymond James increased their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. 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, TD Securities increased their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a "buy" rating in a research report on Friday, November 8th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $71.67.

Wheaton Precious Metals Stock Down 1.1 %

WPM stock traded down $0.64 during midday trading on Friday, reaching $57.17. 2,019,956 shares of the company's stock traded hands, compared to its average volume of 1,556,284. The firm's fifty day moving average price is $60.41 and its 200-day moving average price is $60.22. Wheaton Precious Metals has a 52 week low of $38.57 and a 52 week high of $68.64. The company has a market cap of $25.94 billion, a price-to-earnings ratio of 42.66, a P/E/G ratio of 1.67 and a beta of 0.76.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.34. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The business 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 company earned $0.27 earnings per share.

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Thursday, November 21st were given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Thursday, November 21st. Wheaton Precious Metals's dividend payout ratio is presently 46.27%.

Hedge Funds Weigh In On Wheaton Precious Metals

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc purchased a new stake in Wheaton Precious Metals in the fourth quarter worth $29,000. Abich Financial Wealth Management LLC bought a new position in shares of Wheaton Precious Metals during the 2nd quarter worth $31,000. GAMMA Investing LLC purchased a new stake in Wheaton Precious Metals in the 4th quarter worth about $41,000. Sunbelt Securities Inc. bought a new stake in Wheaton Precious Metals in the 2nd quarter valued at about $47,000. Finally, St. Johns Investment Management Company LLC purchased a new stake in Wheaton Precious Metals during the third quarter valued at about $48,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

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.