$317.41 Million in Sales Expected for Wheaton Precious Metals Corp. (NYSE:WPM) This Quarter


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Brokerages expect Wheaton Precious Metals Corp. (NYSE:WPM) to announce sales of $317.41 million for the current quarter, according to Zacks Investment Research. Twelve analysts have provided estimates for Wheaton Precious Metals’ earnings, with the highest sales estimate coming in at $355.34 million and the lowest estimate coming in at $286.69 million. Wheaton Precious Metals posted sales of $254.79 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 24.6%. The company is scheduled to report its next earnings results after the market closes on Thursday, May 6th.

According to Zacks, analysts expect that Wheaton Precious Metals will report full year sales of $1.32 billion for the current fiscal year, with estimates ranging from $1.20 billion to $1.49 billion. For the next financial year, analysts forecast that the business will post sales of $1.40 billion, with estimates ranging from $1.23 billion to $1.71 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Wheaton Precious Metals.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Thursday, March 11th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.01). Wheaton Precious Metals had a net margin of 37.30% and a return on equity of 6.50%. The company had revenue of $286.20 million during the quarter, compared to analysts’ expectations of $296.32 million. During the same quarter in the previous year, the business posted $0.17 EPS. The business’s quarterly revenue was up 28.2% compared to the same quarter last year.

A number of equities research analysts have recently weighed in on WPM shares. Zacks Investment Research lowered shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating and set a $44.00 price objective on the stock. in a report on Thursday, January 14th. Credit Suisse Group decreased their price target on Wheaton Precious Metals from $64.00 to $62.00 and set a “neutral” rating for the company in a report on Tuesday, February 2nd. JPMorgan Chase & Co. initiated coverage on Wheaton Precious Metals in a research report on Wednesday, March 10th. They set an “overweight” rating and a $56.00 price objective for the company. BMO Capital Markets raised Wheaton Precious Metals from a “market perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a research report on Monday, March 15th. Finally, Stifel Nicolaus upgraded Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research note on Monday, February 8th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Wheaton Precious Metals has a consensus rating of “Buy” and a consensus price target of $56.58.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp boosted its holdings in shares of Wheaton Precious Metals by 8.6% in the fourth quarter. Van ECK Associates Corp now owns 21,579,659 shares of the company’s stock valued at $900,735,000 after acquiring an additional 1,708,205 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Wheaton Precious Metals by 5.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 3,102,422 shares of the company’s stock valued at $148,916,000 after buying an additional 157,127 shares during the period. Ruffer LLP boosted its stake in shares of Wheaton Precious Metals by 3.1% in the fourth quarter. Ruffer LLP now owns 2,773,905 shares of the company’s stock valued at $115,833,000 after buying an additional 84,570 shares in the last quarter. Norges Bank acquired a new position in Wheaton Precious Metals during the fourth quarter worth $100,649,000. Finally, Vaughan Nelson Investment Management L.P. raised its position in Wheaton Precious Metals by 12.6% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,389,271 shares of the company’s stock worth $99,728,000 after acquiring an additional 268,023 shares in the last quarter. 59.45% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals stock traded down $0.76 during trading on Thursday, reaching $42.34. The stock had a trading volume of 2,164,918 shares, compared to its average volume of 2,750,237. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.12. Wheaton Precious Metals has a 52-week low of $34.85 and a 52-week high of $57.89. The stock has a market cap of $19.05 billion, a PE ratio of 53.59, a P/E/G ratio of 8.78 and a beta of 0.55. The business has a 50 day moving average price of $40.68 and a 200 day moving average price of $41.52.

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 13th. Investors of record on Friday, March 26th were issued a dividend of $0.13 per share. The ex-dividend date was Thursday, March 25th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.23%. This is a positive change from Wheaton Precious Metals’s previous quarterly dividend of $0.12. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 57.14%.

About Wheaton Precious Metals

Wheaton Precious Metals Corp., a mining company, primarily sells precious metals in Canada and internationally. The company sells gold, silver, palladium, and cobalt deposits. It has agreements for 24 operating mining assets and 7 development stage projects. The company was formerly known as Silver Wheaton Corp.

See Also: Environmental, Social, and Governance (ESG) Investing

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Earnings History and Estimates for Wheaton Precious Metals (NYSE:WPM)

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