National Bank Financial Upgrades Wheaton Precious Metals (TSE:WPM) to “Strong-Buy”

Wheaton Precious Metals (TSE:WPM) was upgraded by equities researchers at National Bank Financial from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday, Marketbeat Ratings reports. National Bank Financial also issued estimates for Wheaton Precious Metals’ Q3 2024 earnings at $0.50 EPS, Q4 2024 earnings at $0.56 EPS and FY2024 earnings at $1.99 EPS.

Several other equities research analysts also recently weighed in on the stock. National Bankshares upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and raised their target price for the company from C$90.00 to C$105.00 in a research note on Thursday. Eight Capital raised their target price on shares of Wheaton Precious Metals from C$95.00 to C$100.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Peel Hunt raised their target price on shares of Wheaton Precious Metals from C$82.00 to C$95.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Finally, Canaccord Genuity Group raised their target price on shares of Wheaton Precious Metals from C$90.00 to C$100.00 in a research note on Tuesday, July 23rd. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Wheaton Precious Metals presently has an average rating of “Buy” and a consensus price target of C$94.00.

Wheaton Precious Metals Stock Performance

TSE WPM opened at C$83.78 on Wednesday. The firm’s 50 day moving average price is C$81.90 and its 200-day moving average price is C$76.94. Wheaton Precious Metals has a 52-week low of C$52.15 and a 52-week high of C$87.37. The company has a market cap of C$38.01 billion, a PE ratio of 48.99 and a beta of 0.70.

Wheaton Precious Metals (TSE:WPM) last released its quarterly earnings data on Wednesday, August 7th. The company reported C$0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.39 by C$0.06. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.16%. The firm had revenue of C$409.19 million for the quarter, compared to the consensus estimate of C$400.03 million. On average, analysts forecast that Wheaton Precious Metals will post 2.412993 earnings per share for the current fiscal year.

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.