Wheaton Precious Metals Corp. (TSE:WPM) to Post Q1 2024 Earnings of $0.45 Per Share, Raymond James Forecasts

Wheaton Precious Metals Corp. (TSE:WPM) – Equities research analysts at Raymond James raised their Q1 2024 earnings per share (EPS) estimates for 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 $0.45 per share for the quarter, up from their prior forecast of $0.43. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.55 per share.

Wheaton Precious Metals (TSE:WPM) last released its earnings results on Thursday, March 14th. The company reported C$0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.42 by C$0.07. The firm had revenue of C$426.80 million for the quarter, compared to analyst estimates of C$381.95 million. Wheaton Precious Metals had a return on equity of 7.85% and a net margin of 52.92%.

Other equities analysts have also recently issued research reports about the company. Canaccord Genuity Group lifted their price target on Wheaton Precious Metals from C$80.00 to C$90.00 in a research note on Tuesday. National Bank Financial cut Wheaton Precious Metals from an “outperform market weight” rating to a “sector perform overweight” rating in a research note on Wednesday, February 21st. Eight Capital raised their price objective on Wheaton Precious Metals from C$82.50 to C$85.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Stifel Nicolaus raised their price objective on Wheaton Precious Metals from C$72.00 to C$80.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Finally, Veritas Investment Research raised their price objective on Wheaton Precious Metals from C$67.00 to C$84.00 in a research report on Friday, April 12th.

Wheaton Precious Metals Trading Up 0.5 %

TSE:WPM opened at C$73.79 on Thursday. The business’s 50-day moving average price is C$63.87. The firm has a market capitalization of C$33.43 billion, a price-to-earnings ratio of 46.12 and a beta of 0.66. Wheaton Precious Metals has a 52-week low of C$52.15 and a 52-week high of C$74.72.

Insider Activity

In related news, Senior Officer Gary Duncan Brown sold 1,857 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of C$58.96, for a total value of C$109,491.69. In related news, Senior Officer Patrick Eugene Drouin sold 18,640 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of C$62.02, for a total value of C$1,156,052.80. Also, Senior Officer Gary Duncan Brown sold 1,857 shares of Wheaton Precious Metals stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of C$58.96, for a total value of C$109,491.69. Insiders sold a total of 20,664 shares of company stock worth $1,272,782 in the last three months. 0.17% of the stock is owned by insiders.

Wheaton Precious Metals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 15th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.14%. 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 payout ratio is currently 52.50%.

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.