Wheaton Precious Metals (NYSE:WPM) Posts Earnings Results, Beats Expectations By $0.05 EPS

Key Points

• Wheaton Precious Metals reported a quarterly earnings per share (EPS) of $0.63, exceeding analyst estimates by $0.05, with revenues reaching $503.22 million, up 68.2% from last year.
• The company declared a quarterly dividend of $0.165 per share, representing an annual yield of 0.7% and a dividend payout ratio of 48.53%.
• Analysts have a consensus rating of "Moderate Buy" for Wheaton Precious Metals, with a target price of $93.00, following upgrades from several investment firms.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) posted its quarterly earnings data on Thursday. The company reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.05, Zacks reports. The business had revenue of $503.22 million for the quarter, compared to analyst estimates of $424.23 million. Wheaton Precious Metals had a return on equity of 12.12% and a net margin of 47.46%. The business's revenue for the quarter was up 68.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.33 earnings per share.

Wheaton Precious Metals Trading Up 0.9%

Shares of Wheaton Precious Metals stock traded up $0.85 during trading hours on Friday, reaching $100.64. The stock had a trading volume of 3,100,591 shares, compared to its average volume of 1,757,803. The firm has a 50 day simple moving average of $91.54 and a two-hundred day simple moving average of $80.63. The firm has a market capitalization of $45.69 billion, a price-to-earnings ratio of 58.17, a P/E/G ratio of 2.79 and a beta of 0.39. Wheaton Precious Metals has a 1 year low of $54.12 and a 1 year high of $103.81.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Thursday, August 21st. Wheaton Precious Metals's dividend payout ratio (DPR) is 48.53%.

Hedge Funds Weigh In On Wheaton Precious Metals

A number of large investors have recently modified their holdings of WPM. AQR Capital Management LLC purchased a new position in shares of Wheaton Precious Metals in the 1st quarter worth about $331,000. Acadian Asset Management LLC purchased a new position in shares of Wheaton Precious Metals in the 1st quarter worth about $209,000. Finally, Focus Partners Wealth raised its holdings in shares of Wheaton Precious Metals by 10.7% in the 1st quarter. Focus Partners Wealth now owns 11,223 shares of the company's stock worth $871,000 after purchasing an additional 1,081 shares during the period. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on WPM shares. Berenberg Bank increased their price objective on Wheaton Precious Metals from $87.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. Scotiabank increased their price objective on Wheaton Precious Metals from $79.00 to $87.00 and gave the company a "sector outperform" rating in a research note on Monday, April 14th. Royal Bank Of Canada increased their price objective on Wheaton Precious Metals from $80.00 to $90.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Raymond James Financial increased their price objective on Wheaton Precious Metals from $88.00 to $90.00 and gave the company an "outperform" rating in a research note on Tuesday, April 15th. Finally, UBS Group increased their price objective on Wheaton Precious Metals from $78.00 to $89.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $93.00.

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.

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