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

Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) - Stock analysts at Raymond James boosted their Q1 2024 earnings estimates for Wheaton Precious Metals in a research note issued 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 estimate 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.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) 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 business had revenue of $313.47 million during the quarter, compared to analyst estimates of $284.29 million. Wheaton Precious Metals had a return on equity of 7.76% and a net margin of 52.92%.

Several other equities analysts have also commented on WPM. BMO Capital Markets lowered their price objective on Wheaton Precious Metals from $61.00 to $59.00 and set an "outperform" rating for the company in a research report on Wednesday, February 21st. CIBC lifted their price target on Wheaton Precious Metals from $66.00 to $70.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 7th. National Bank Financial lowered Wheaton Precious Metals from an "outperform" rating to a "sector perform" rating in a research report on Wednesday, February 21st. Scotiabank lowered their price target on Wheaton Precious Metals from $60.00 to $59.00 and set a "sector outperform" rating for the company in a research report on Wednesday, February 28th. Finally, Jefferies Financial Group lifted their price target on Wheaton Precious Metals from $52.00 to $61.00 and gave the stock a "buy" rating in a research report on Monday. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $59.32.

Wheaton Precious Metals Trading Up 2.2 %

Wheaton Precious Metals stock traded up $1.17 on Thursday, hitting $53.73. 2,559,837 shares of the stock traded hands, compared to its average volume of 2,151,744. The firm has a market cap of $24.36 billion, a P/E ratio of 44.50, a price-to-earnings-growth ratio of 7.36 and a beta of 0.77. The business's fifty day simple moving average is $46.35 and its 200 day simple moving average is $46.28. Wheaton Precious Metals has a 1 year low of $38.37 and a 1 year high of $54.30.

Wheaton Precious Metals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Wednesday, April 3rd were paid a dividend of $0.155 per share. This is an increase from Wheaton Precious Metals's previous quarterly dividend of $0.15. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Tuesday, April 2nd. Wheaton Precious Metals's payout ratio is currently 52.10%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in WPM. Norges Bank purchased a new position in shares of Wheaton Precious Metals during the 4th quarter valued at about $387,481,000. Van ECK Associates Corp lifted its holdings in Wheaton Precious Metals by 9.9% in the 4th quarter. Van ECK Associates Corp now owns 20,521,065 shares of the company's stock worth $1,012,517,000 after purchasing an additional 1,856,031 shares in the last quarter. Montrusco Bolton Investments Inc. lifted its holdings in Wheaton Precious Metals by 426.7% in the 4th quarter. Montrusco Bolton Investments Inc. now owns 957,339 shares of the company's stock worth $47,460,000 after purchasing an additional 775,588 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Wheaton Precious Metals by 10.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,585,266 shares of the company's stock worth $307,583,000 after purchasing an additional 713,381 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Wheaton Precious Metals by 27.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,190,190 shares of the company's stock worth $157,587,000 after purchasing an additional 694,583 shares in the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

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.