Raymond James Issues Optimistic Estimate for WPM Earnings

Wheaton Precious Metals Corp. (NYSE:WPM) – Equities research analysts at Raymond James raised their FY2024 earnings estimates for shares of Wheaton Precious Metals in a research note issued on Thursday, January 30th. Raymond James analyst B. Macarthur now forecasts that the company will post earnings of $1.43 per share for the year, up from their previous estimate of $1.37. Raymond James has a “Outperform” rating and a $75.00 price objective on the stock. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.46 per share. Raymond James also issued estimates for Wheaton Precious Metals’ Q4 2024 earnings at $0.45 EPS, Q1 2025 earnings at $0.42 EPS, Q2 2025 earnings at $0.44 EPS, Q3 2025 earnings at $0.44 EPS, Q4 2025 earnings at $0.45 EPS and FY2025 earnings at $1.75 EPS.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.34. The business had revenue of $308.25 million during the quarter, compared to analyst estimates of $324.57 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. During the same quarter in the prior year, the firm earned $0.27 earnings per share.

A number of other analysts have also weighed in on the stock. Stifel Canada lowered shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. TD Securities increased their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. UBS Group assumed coverage on Wheaton Precious Metals in a report on Monday, November 18th. They issued a “buy” rating and a $78.00 target price on the stock. Finally, National Bank Financial upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $71.67.

Wheaton Precious Metals Trading Up 0.7 %

NYSE WPM opened at $64.02 on Monday. The stock has a fifty day simple moving average of $59.39 and a 200-day simple moving average of $60.67. Wheaton Precious Metals has a twelve month low of $38.57 and a twelve month high of $68.64. The stock has a market cap of $29.04 billion, a PE ratio of 47.77, a P/E/G ratio of 1.61 and a beta of 0.77.

Institutional Trading of Wheaton Precious Metals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC acquired a new position in Wheaton Precious Metals in the second quarter valued at approximately $658,000. Creative Planning lifted its position in Wheaton Precious Metals by 8.0% in the 2nd quarter. Creative Planning now owns 41,682 shares of the company’s stock valued at $2,185,000 after purchasing an additional 3,084 shares during the last quarter. NewEdge Advisors LLC grew its position in Wheaton Precious Metals by 382.6% in the 2nd quarter. NewEdge Advisors LLC now owns 29,398 shares of the company’s stock worth $1,541,000 after purchasing an additional 23,306 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Wheaton Precious Metals by 5.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 21,207 shares of the company’s stock valued at $1,112,000 after purchasing an additional 1,158 shares during the period. Finally, Cetera Investment Advisers raised its holdings in shares of Wheaton Precious Metals by 1.1% during the second quarter. Cetera Investment Advisers now owns 37,659 shares of the company’s stock valued at $1,974,000 after buying an additional 409 shares during the last quarter. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Thursday, November 21st were paid a dividend of $0.155 per share. The ex-dividend date was Thursday, November 21st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.97%. Wheaton Precious Metals’s dividend payout ratio is currently 46.27%.

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.