Q3 2024 EPS Estimates for Wheaton Precious Metals Corp. Lifted by National Bank Financial (NYSE:WPM)

Wheaton Precious Metals Corp. (NYSE:WPM) – Equities researchers at National Bank Financial upped their Q3 2024 earnings estimates for shares of Wheaton Precious Metals in a research note issued to investors on Wednesday, October 9th. National Bank Financial analyst S. Nagle now anticipates that the company will post earnings of $0.37 per share for the quarter, up from their previous estimate of $0.35. National Bank Financial currently has a “Outperform” rating on the stock. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.42 per share. National Bank Financial also issued estimates for Wheaton Precious Metals’ Q4 2024 earnings at $0.41 EPS and FY2024 earnings at $1.46 EPS.

Several other brokerages also recently weighed in on WPM. Bank of America boosted their target price on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Scotiabank boosted 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 note on Monday, August 19th. CIBC boosted their target price on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. TD Securities cut their target price on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Finally, Jefferies Financial Group boosted their target price on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $69.88.

Wheaton Precious Metals Stock Up 2.5 %

Wheaton Precious Metals stock opened at $60.95 on Friday. Wheaton Precious Metals has a 52 week low of $38.57 and a 52 week high of $64.82. The firm’s 50-day simple moving average is $60.21 and its 200 day simple moving average is $56.35. The firm has a market capitalization of $27.65 billion, a PE ratio of 48.37, a P/E/G ratio of 2.15 and a beta of 0.78.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Wednesday, August 7th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. 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 previous year, the firm earned $0.31 EPS. The business’s revenue was up 12.9% on a year-over-year basis.

Wheaton Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 1.02%. The ex-dividend date was Wednesday, August 21st. Wheaton Precious Metals’s dividend payout ratio is currently 49.21%.

Institutional Investors Weigh In On Wheaton Precious Metals

Several large investors have recently added to or reduced their stakes in WPM. TD Asset Management Inc increased its position in Wheaton Precious Metals by 71.2% in the first quarter. TD Asset Management Inc now owns 4,857,837 shares of the company’s stock worth $229,026,000 after buying an additional 2,019,722 shares during the period. AMF Tjanstepension AB boosted its stake in Wheaton Precious Metals by 593.5% during the second quarter. AMF Tjanstepension AB now owns 1,608,134 shares of the company’s stock valued at $84,388,000 after buying an additional 1,376,231 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Wheaton Precious Metals by 31.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,672,800 shares of the company’s stock valued at $272,975,000 after buying an additional 1,342,264 shares in the last quarter. Barings LLC bought a new position in Wheaton Precious Metals during the second quarter valued at about $65,405,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in Wheaton Precious Metals by 16.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,309,175 shares of the company’s stock valued at $344,483,000 after buying an additional 1,010,307 shares in the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

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.