WPM Q3 EPS Estimate Decreased by National Bank Financial

Wheaton Precious Metals Corp. (NYSE:WPM) – Stock analysts at National Bank Financial lowered their Q3 2024 earnings per share (EPS) estimates for shares of Wheaton Precious Metals in a research note issued to investors on Tuesday, October 22nd. National Bank Financial analyst S. Nagle now anticipates that the company will earn $0.33 per share for the quarter, down from their prior estimate of $0.37. National Bank Financial currently has a “Outperform” rating on the stock. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.45 per share. National Bank Financial also issued estimates for Wheaton Precious Metals’ FY2025 earnings at $1.70 EPS.

A number of other research firms have also weighed in on WPM. Raymond James lifted their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday. Jefferies Financial Group lifted their target price on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a report on Friday, October 4th. TD Securities cut their price target on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, August 15th. CIBC raised their price objective on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Finally, Stifel Canada cut Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $70.25.

Wheaton Precious Metals Stock Performance

Shares of NYSE:WPM opened at $66.13 on Friday. Wheaton Precious Metals has a one year low of $38.57 and a one year high of $68.64. The stock has a market capitalization of $29.99 billion, a price-to-earnings ratio of 50.87, a PEG ratio of 2.48 and a beta of 0.78. The company has a 50-day simple moving average of $62.01 and a 200-day simple moving average of $57.67.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.04. The company had revenue of $299.06 million for the quarter, compared to analyst estimates of $309.54 million. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.31 earnings per share.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were given a $0.155 dividend. 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 presently 47.69%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in WPM. TD Asset Management Inc increased its position in Wheaton Precious Metals by 71.2% during the first quarter. TD Asset Management Inc now owns 4,857,837 shares of the company’s stock worth $229,026,000 after purchasing an additional 2,019,722 shares during the last quarter. Canoe Financial LP acquired a new position in shares of Wheaton Precious Metals during the third quarter worth $113,017,000. AMF Tjanstepension AB boosted its stake in shares of Wheaton Precious Metals by 593.5% in the second quarter. AMF Tjanstepension AB now owns 1,608,134 shares of the company’s stock valued at $84,388,000 after purchasing an additional 1,376,231 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Wheaton Precious Metals by 31.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,672,800 shares of the company’s stock valued at $272,975,000 after purchasing an additional 1,342,264 shares in the last quarter. Finally, Barings LLC acquired a new stake in Wheaton Precious Metals during the 2nd quarter valued at $65,405,000. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Company Profile

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.