National Bank Financial Predicts WPM FY2024 Earnings

Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) - Analysts at National Bank Financial reduced their FY2024 earnings per share estimates for Wheaton Precious Metals in a report released on Monday, February 10th. National Bank Financial analyst S. Nagle now anticipates that the company will post earnings of $1.45 per share for the year, down from their prior estimate of $1.48. The consensus estimate for Wheaton Precious Metals' current full-year earnings is $1.46 per share. National Bank Financial also issued estimates for Wheaton Precious Metals' Q4 2024 earnings at $0.42 EPS.

Other equities analysts have also issued research reports about the company. UBS Group assumed coverage on Wheaton Precious Metals in a research note on Monday, November 18th. They issued a "buy" rating and a $78.00 price target on the stock. TD Securities upped their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Raymond James upped their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. Finally, Stifel Canada raised Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 4th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $71.67.

Wheaton Precious Metals Stock Performance

Shares of Wheaton Precious Metals stock traded down $1.68 during trading hours on Wednesday, hitting $67.58. The company's stock had a trading volume of 1,434,846 shares, compared to its average volume of 1,392,055. Wheaton Precious Metals has a twelve month low of $38.57 and a twelve month high of $69.58. The firm has a fifty day moving average of $60.22 and a 200-day moving average of $61.10. The stock has a market cap of $30.66 billion, a price-to-earnings ratio of 50.44, a P/E/G ratio of 1.70 and a beta of 0.77.

Hedge Funds Weigh In On Wheaton Precious Metals

Several hedge funds have recently bought and sold shares of WPM. Norges Bank purchased a new position in Wheaton Precious Metals in the 4th quarter valued at approximately $472,648,000. Capital International Investors purchased a new position in Wheaton Precious Metals in the 4th quarter valued at approximately $263,810,000. FMR LLC increased its stake in Wheaton Precious Metals by 33.7% in the 3rd quarter. FMR LLC now owns 14,665,913 shares of the company's stock valued at $895,723,000 after purchasing an additional 3,692,594 shares in the last quarter. Canoe Financial LP purchased a new position in Wheaton Precious Metals in the 3rd quarter valued at approximately $113,017,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Wheaton Precious Metals during the fourth quarter worth $72,657,000. 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.