Q1 2024 EPS Estimates for Wheaton Precious Metals Corp. (NYSE:WPM) Raised by Analyst

Wheaton Precious Metals Corp. (NYSE:WPM) – Stock analysts at Raymond James lifted their Q1 2024 earnings estimates for shares of Wheaton Precious Metals in a research note issued to investors on Monday, April 22nd. Raymond James analyst B. Macarthur now anticipates that the company will post earnings of $0.33 per share for the quarter, up from their previous estimate of $0.32. Raymond James has a “Market Perform” rating and a $58.00 price objective on the stock. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.21 per share. Raymond James also issued estimates for Wheaton Precious Metals’ Q3 2024 earnings at $0.38 EPS and Q4 2024 earnings at $0.39 EPS.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, March 14th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.32 by $0.04. The company had revenue of $313.47 million for the quarter, compared to analyst estimates of $284.29 million. Wheaton Precious Metals had a net margin of 52.92% and a return on equity of 7.76%.

Other equities research analysts have also issued reports about the stock. TD Securities upgraded shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $51.00 to $53.00 in a research report on Monday, March 18th. BMO Capital Markets decreased their price objective on shares of Wheaton Precious Metals from $61.00 to $59.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 21st. CIBC boosted their price objective on shares of Wheaton Precious Metals from $66.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Scotiabank decreased their price objective on shares of Wheaton Precious Metals from $60.00 to $59.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, February 28th. Finally, National Bank Financial lowered shares of Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, February 21st. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Wheaton Precious Metals presently has a consensus rating of “Moderate Buy” and an average target price of $59.32.

Wheaton Precious Metals Stock Performance

Shares of NYSE WPM opened at $53.99 on Thursday. The firm has a market capitalization of $24.47 billion, a P/E ratio of 45.38, a PEG ratio of 7.37 and a beta of 0.77. Wheaton Precious Metals has a one year low of $38.37 and a one year high of $54.45. The company’s fifty day moving average is $46.54 and its two-hundred day moving average is $46.34.

Wheaton Precious Metals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Wednesday, April 3rd were issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 1.15%. This is a positive change from Wheaton Precious Metals’s previous quarterly dividend of $0.15. The ex-dividend date was Tuesday, April 2nd. Wheaton Precious Metals’s dividend payout ratio is 52.10%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Eagle Investment Management LLC increased its stake in shares of Wheaton Precious Metals by 0.5% during the 4th quarter. First Eagle Investment Management LLC now owns 21,110,441 shares of the company’s stock valued at $1,041,589,000 after acquiring an additional 112,178 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Wheaton Precious Metals by 9.9% during the 4th quarter. Van ECK Associates Corp now owns 20,521,065 shares of the company’s stock valued at $1,012,517,000 after acquiring an additional 1,856,031 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Wheaton Precious Metals by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 16,497,557 shares of the company’s stock valued at $813,989,000 after acquiring an additional 294,488 shares during the last quarter. FIL Ltd increased its stake in shares of Wheaton Precious Metals by 5.5% during the 4th quarter. FIL Ltd now owns 10,646,479 shares of the company’s stock valued at $525,235,000 after acquiring an additional 550,804 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Wheaton Precious Metals during the 4th quarter valued at about $387,481,000. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

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.