Raymond James Weighs in on Wheaton Precious Metals Corp.'s Q1 2024 Earnings (TSE:WPM)

Wheaton Precious Metals Corp. (TSE:WPM - Free Report) - Stock analysts at Raymond James increased their Q1 2024 earnings per share estimates for shares of Wheaton Precious Metals in a research note issued on Monday, April 22nd. Raymond James analyst B. Macarthur now forecasts that the company will earn $0.45 per share for the quarter, up from their previous estimate of $0.43. The consensus estimate for Wheaton Precious Metals' current full-year earnings is $1.55 per share.

Wheaton Precious Metals (TSE:WPM - Get Free Report) last posted its quarterly earnings data on Thursday, March 14th. The company reported C$0.49 EPS for the quarter, topping the consensus estimate of C$0.42 by C$0.07. Wheaton Precious Metals had a return on equity of 7.85% and a net margin of 52.92%. The firm had revenue of C$426.80 million during the quarter, compared to analyst estimates of C$381.95 million.

A number of other brokerages have also issued reports on WPM. National Bankshares lowered Wheaton Precious Metals from an "outperform" rating to a "sector perform" rating and cut their price target for the stock from C$75.00 to C$68.00 in a research note on Friday, February 23rd. Eight Capital raised their price objective on Wheaton Precious Metals from C$82.50 to C$85.00 and gave the company a "buy" rating in a research report on Monday. National Bank Financial lowered Wheaton Precious Metals from an "outperform market weight" rating to a "sector perform overweight" rating in a research report on Wednesday, February 21st. Canaccord Genuity Group raised their price objective on Wheaton Precious Metals from C$80.00 to C$90.00 in a research report on Tuesday. Finally, Stifel Nicolaus raised their price objective on Wheaton Precious Metals from C$72.00 to C$80.00 and gave the company a "buy" rating in a research report on Friday, April 19th.

Wheaton Precious Metals Stock Up 2.0 %

WPM stock traded up C$1.42 during trading on Thursday, reaching C$73.41. The company's stock had a trading volume of 652,187 shares, compared to its average volume of 821,974. Wheaton Precious Metals has a 1 year low of C$52.15 and a 1 year high of C$74.72. The firm has a market cap of C$33.26 billion, a P/E ratio of 44.99 and a beta of 0.66. The company has a fifty day moving average price of C$63.66.

Insider Activity at Wheaton Precious Metals

In other Wheaton Precious Metals news, Senior Officer Gary Duncan Brown sold 1,857 shares of the business's stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of C$58.96, for a total transaction of C$109,491.69. In other Wheaton Precious Metals news, Senior Officer Patrick Eugene Drouin sold 18,640 shares of the business's stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of C$62.02, for a total transaction of C$1,156,052.80. Also, Senior Officer Gary Duncan Brown sold 1,857 shares of the business's stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of C$58.96, for a total value of C$109,491.69. In the last quarter, insiders sold 20,664 shares of company stock valued at $1,272,782. Insiders own 0.17% of the company's stock.

Wheaton Precious Metals Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 15th were issued a $0.21 dividend. This is an increase from Wheaton Precious Metals's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, April 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.14%. Wheaton Precious Metals's dividend payout ratio (DPR) is presently 52.50%.

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.