FY2024 Earnings Forecast for WPM Issued By Stifel Canada

Wheaton Precious Metals Corp. (NYSE:WPM) – Analysts at Stifel Canada increased their FY2024 earnings per share (EPS) estimates for shares of Wheaton Precious Metals in a research note issued to investors on Monday, October 21st. Stifel Canada analyst I. Rico now expects that the company will earn $1.43 per share for the year, up from their previous forecast of $1.42. Stifel Canada has a “Hold” rating on the stock. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.44 per share.

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

WPM has been the topic of a number of other research reports. TD Securities decreased their price target on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Scotiabank upped their target price on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. CIBC lifted their price target on Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. National Bank Financial upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Finally, Bank of America lifted their target price on Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Wheaton Precious Metals currently has an average rating of “Moderate Buy” and an average price target of $69.88.

Wheaton Precious Metals Price Performance

Shares of WPM opened at $68.53 on Wednesday. The stock has a market capitalization of $31.09 billion, a price-to-earnings ratio of 54.39, a price-to-earnings-growth ratio of 2.45 and a beta of 0.78. Wheaton Precious Metals has a 1 year low of $38.57 and a 1 year high of $68.64. The business’s 50 day simple moving average is $61.49 and its 200-day simple moving average is $57.37.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Ridgewood Investments LLC bought a new position in shares of Wheaton Precious Metals during the 2nd quarter worth approximately $31,000. Abich Financial Wealth Management LLC purchased a new position in Wheaton Precious Metals in the second quarter worth $31,000. Sunbelt Securities Inc. acquired a new position in shares of Wheaton Precious Metals during the second quarter worth $47,000. St. Johns Investment Management Company LLC purchased a new stake in shares of Wheaton Precious Metals during the 1st quarter valued at $52,000. Finally, Western Pacific Wealth Management LP boosted its position in shares of Wheaton Precious Metals by 19.6% in the 1st quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock worth $63,000 after purchasing an additional 218 shares in the last quarter. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were paid a $0.155 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.62 annualized dividend and a yield of 0.90%. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 49.21%.

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.