Zacks Research Analysts Increase Earnings Estimates for Wheaton Precious Metals Corp. (NYSE:WPM)

Wheaton Precious Metals Corp. (NYSE:WPM) – Analysts at Zacks Research boosted their Q3 2024 earnings per share estimates for shares of Wheaton Precious Metals in a research report issued to clients and investors on Tuesday, September 3rd. Zacks Research analyst M. Das now expects that the company will earn $0.34 per share for the quarter, up from their prior estimate of $0.33. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.39 per share. Zacks Research also issued estimates for Wheaton Precious Metals’ Q1 2025 earnings at $0.37 EPS, Q2 2025 earnings at $0.38 EPS, Q3 2025 earnings at $0.38 EPS, Q4 2025 earnings at $0.37 EPS, FY2025 earnings at $1.50 EPS, Q1 2026 earnings at $0.39 EPS, Q2 2026 earnings at $0.40 EPS and FY2026 earnings at $1.57 EPS.

A number of other equities analysts have also weighed in on WPM. Bank of America upped their target price on Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. CIBC upped their target price 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. Berenberg Bank increased their price target on Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Jefferies Financial Group increased their price target on Wheaton Precious Metals from $62.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Finally, BMO Capital Markets increased their price target on Wheaton Precious Metals from $59.00 to $61.00 and gave the company an “outperform” rating in a research report on Tuesday, May 21st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Wheaton Precious Metals currently has an average rating of “Moderate Buy” and a consensus price target of $67.50.

Wheaton Precious Metals Stock Down 0.1 %

Shares of NYSE:WPM opened at $59.68 on Thursday. Wheaton Precious Metals has a twelve month low of $38.37 and a twelve month high of $63.06. The stock’s 50 day moving average is $58.43 and its 200-day moving average is $53.15. The firm has a market capitalization of $27.07 billion, a price-to-earnings ratio of 45.91, a PEG ratio of 2.28 and a beta of 0.76.

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

Wheaton Precious Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders 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 dividend on an annualized basis and a yield of 1.04%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 47.69%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of WPM. Clearbridge Investments LLC grew its stake in shares of Wheaton Precious Metals by 90.5% during the 2nd quarter. Clearbridge Investments LLC now owns 1,344,131 shares of the company’s stock worth $70,461,000 after acquiring an additional 638,425 shares during the period. Cetera Investment Advisers grew its stake in shares of Wheaton Precious Metals by 1.1% during the 2nd quarter. Cetera Investment Advisers now owns 37,659 shares of the company’s stock worth $1,974,000 after acquiring an additional 409 shares during the period. Sunbelt Securities Inc. bought a new position in shares of Wheaton Precious Metals during the 2nd quarter worth $47,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Wheaton Precious Metals by 5.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 21,207 shares of the company’s stock worth $1,112,000 after acquiring an additional 1,158 shares during the period. Finally, NewEdge Advisors LLC grew its stake in shares of Wheaton Precious Metals by 382.6% during the 2nd quarter. NewEdge Advisors LLC now owns 29,398 shares of the company’s stock worth $1,541,000 after acquiring an additional 23,306 shares during the period. Institutional investors 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.