Wheaton Precious Metals (TSE:WPM) Cut to “Hold” at Stifel Canada

Stifel Canada cut shares of Wheaton Precious Metals (TSE:WPM) from a strong-buy rating to a hold rating in a research note issued to investors on Monday, Zacks.com reports. Stifel Canada also issued estimates for Wheaton Precious Metals’ FY2024 earnings at $1.97 EPS.

Several other analysts have also weighed in on WPM. National Bankshares raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from C$90.00 to C$105.00 in a research note on Thursday, October 10th. National Bank Financial raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. Peel Hunt increased their target price on Wheaton Precious Metals from C$82.00 to C$95.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus increased their target price on Wheaton Precious Metals from C$90.00 to C$102.00 in a research report on Monday. Finally, Eight Capital increased their target price on Wheaton Precious Metals from C$95.00 to C$100.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of C$97.67.

Wheaton Precious Metals Stock Performance

WPM opened at C$93.33 on Monday. The firm has a market cap of C$42.34 billion, a P/E ratio of 53.95 and a beta of 0.70. Wheaton Precious Metals has a 52-week low of C$52.15 and a 52-week high of C$94.84. The business’s fifty day moving average is C$83.92 and its 200-day moving average is C$78.53.

Wheaton Precious Metals (TSE:WPM) last released its quarterly earnings data on Wednesday, August 7th. The company reported C$0.45 earnings per share for the quarter, beating the consensus estimate of C$0.39 by C$0.06. The business had revenue of C$409.19 million for the quarter, compared to analyst estimates of C$400.03 million. Wheaton Precious Metals had a return on equity of 8.16% and a net margin of 50.44%. On average, research analysts predict that Wheaton Precious Metals will post 2.4749013 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were given a dividend of $0.214 per share. The ex-dividend date was Wednesday, August 21st. This represents a $0.86 dividend on an annualized basis and a dividend yield of 0.92%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 48.55%.

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.