Q3 2024 Earnings Forecast for Wheaton Precious Metals Corp. (NYSE:WPM) Issued By Zacks Research

Wheaton Precious Metals Corp. (NYSE:WPM) – Equities research analysts at Zacks Research increased their Q3 2024 earnings estimates for Wheaton Precious Metals in a research report issued to clients and investors on Wednesday, October 9th. Zacks Research analyst M. Das now expects that the company will earn $0.36 per share for the quarter, up from their prior forecast of $0.34. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.43 per share. Zacks Research also issued estimates for Wheaton Precious Metals’ Q4 2024 earnings at $0.37 EPS, FY2024 earnings at $1.41 EPS, Q1 2025 earnings at $0.38 EPS, Q2 2025 earnings at $0.40 EPS, Q3 2025 earnings at $0.39 EPS, Q4 2025 earnings at $0.39 EPS, FY2025 earnings at $1.55 EPS, Q1 2026 earnings at $0.40 EPS, Q2 2026 earnings at $0.41 EPS, Q3 2026 earnings at $0.38 EPS and FY2026 earnings at $1.60 EPS.

Other analysts also recently issued research reports about the stock. Raymond James raised their price objective on shares of Wheaton Precious Metals from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 25th. National Bank Financial upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Jefferies Financial Group lifted their price target 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. Berenberg Bank upped their price objective on shares of Wheaton Precious Metals from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, CIBC increased 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. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $69.88.

Wheaton Precious Metals Stock Up 1.4 %

NYSE:WPM opened at $61.76 on Monday. Wheaton Precious Metals has a twelve month low of $38.57 and a twelve month high of $64.82. The stock’s 50-day simple moving average is $60.50 and its 200 day simple moving average is $56.81. The firm has a market capitalization of $28.02 billion, a PE ratio of 49.02, a price-to-earnings-growth ratio of 2.20 and a beta of 0.78.

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

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.00%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 49.21%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in WPM. Ridgewood Investments LLC bought a new stake in shares of Wheaton Precious Metals in the 2nd quarter valued at approximately $31,000. Abich Financial Wealth Management LLC purchased a new stake in shares of Wheaton Precious Metals during the 2nd quarter worth about $31,000. Sunbelt Securities Inc. bought a new position in shares of Wheaton Precious Metals in the 2nd quarter valued at approximately $47,000. St. Johns Investment Management Company LLC bought a new position in Wheaton Precious Metals in the 1st quarter worth approximately $52,000. Finally, Massmutual Trust Co. FSB ADV boosted its stake in Wheaton Precious Metals by 25.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,231 shares of the company’s stock valued at $65,000 after buying an additional 253 shares in the last quarter. Institutional investors and hedge funds 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.