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

Wheaton Precious Metals Corp. (NYSE:WPM) – Investment analysts at Raymond James increased their Q1 2024 earnings estimates for shares of Wheaton Precious Metals in a note issued to investors on Monday, April 22nd. Raymond James analyst B. Macarthur now expects that the company will post earnings per share of $0.33 for the quarter, up from their previous forecast of $0.32. Raymond James currently has a “Market Perform” rating and a $58.00 target price 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.

A number of other brokerages also recently issued reports on WPM. BMO Capital Markets reduced their price target on shares of Wheaton Precious Metals from $61.00 to $59.00 and set an “outperform” rating on the stock in a report on Wednesday, February 21st. National Bank Financial downgraded shares of Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a report on Wednesday, February 21st. Scotiabank reduced their price target on shares of Wheaton Precious Metals from $60.00 to $59.00 and set a “sector outperform” rating on the stock in a report on Wednesday, February 28th. Berenberg Bank lifted their price target on shares of Wheaton Precious Metals from $52.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Finally, TD Securities upgraded shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating and lifted their price target for the company from $51.00 to $53.00 in a report on Monday, March 18th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Wheaton Precious Metals currently 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 company has a market cap of $24.47 billion, a P/E ratio of 45.38, a P/E/G ratio of 7.37 and a beta of 0.77. The firm’s fifty day moving average is $46.54 and its two-hundred day moving average is $46.34. Wheaton Precious Metals has a 52-week low of $38.37 and a 52-week high of $54.45.

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

Wheaton Precious Metals Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Wednesday, April 3rd were given a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 1.15%. The ex-dividend date was Tuesday, April 2nd. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.15. Wheaton Precious Metals’s dividend payout ratio is presently 52.10%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Triasima Portfolio Management inc. raised its stake in shares of Wheaton Precious Metals by 1,021.9% during the 1st quarter. Triasima Portfolio Management inc. now owns 477,460 shares of the company’s stock worth $22,489,000 after acquiring an additional 434,900 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Wheaton Precious Metals by 3.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 208,755 shares of the company’s stock worth $9,842,000 after acquiring an additional 6,615 shares in the last quarter. Summit Financial LLC increased its stake in Wheaton Precious Metals by 32.0% during the 1st quarter. Summit Financial LLC now owns 221,056 shares of the company’s stock valued at $10,418,000 after purchasing an additional 53,585 shares in the last quarter. Beddow Capital Management Inc. increased its stake in Wheaton Precious Metals by 1.2% during the 1st quarter. Beddow Capital Management Inc. now owns 94,523 shares of the company’s stock valued at $4,455,000 after purchasing an additional 1,135 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Wheaton Precious Metals by 9.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 18,164 shares of the company’s stock valued at $856,000 after purchasing an additional 1,495 shares in the last quarter. Institutional investors own 70.34% of the company’s stock.

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.