WPM FY2024 EPS Forecast Raised by National Bank Financial

Wheaton Precious Metals Corp. (NYSE:WPM) – Stock analysts at National Bank Financial boosted their FY2024 earnings per share (EPS) estimates for Wheaton Precious Metals in a research report issued on Tuesday, October 22nd. National Bank Financial analyst S. Nagle now anticipates that the company will post earnings per share of $1.47 for the year, up from their prior estimate of $1.46. National Bank Financial has a “Outperform” rating on the stock. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.45 per share.

WPM has been the subject of a number of other research reports. Jefferies Financial Group raised their target price on Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a report on Friday, October 4th. Stifel Canada cut Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Raymond James raised their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday. Scotiabank raised their price target on Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Finally, TD Securities dropped their price target on Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Wheaton Precious Metals currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.25.

Wheaton Precious Metals Stock Performance

Wheaton Precious Metals stock opened at $66.12 on Thursday. Wheaton Precious Metals has a one year low of $38.57 and a one year high of $68.64. The business has a fifty day moving average of $62.01 and a two-hundred day moving average of $57.62. The company has a market cap of $29.99 billion, a P/E ratio of 50.86, a price-to-earnings-growth ratio of 2.48 and a beta of 0.78.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Wednesday, August 7th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The company had revenue of $299.06 million during the quarter, compared to the consensus estimate of $309.54 million. During the same quarter last year, the company earned $0.31 earnings per share. Wheaton Precious Metals’s quarterly revenue was up 12.9% compared to the same quarter last 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 paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date was Wednesday, August 21st. Wheaton Precious Metals’s dividend payout ratio is currently 47.69%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Pinnacle Associates Ltd. increased its stake in shares of Wheaton Precious Metals by 7.7% during the 3rd quarter. Pinnacle Associates Ltd. now owns 4,200 shares of the company’s stock valued at $257,000 after acquiring an additional 300 shares during the last quarter. First Trust Direct Indexing L.P. increased its stake in shares of Wheaton Precious Metals by 6.1% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 14,538 shares of the company’s stock valued at $888,000 after acquiring an additional 838 shares during the last quarter. Investment Partners Asset Management Inc. increased its stake in shares of Wheaton Precious Metals by 5.1% during the 3rd quarter. Investment Partners Asset Management Inc. now owns 10,803 shares of the company’s stock valued at $660,000 after acquiring an additional 529 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in shares of Wheaton Precious Metals by 4.9% during the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,607 shares of the company’s stock valued at $281,000 after acquiring an additional 217 shares during the last quarter. Finally, Canoe Financial LP acquired a new position in shares of Wheaton Precious Metals during the 3rd quarter valued at about $113,017,000. Institutional investors and hedge funds 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.