Raymond James Brokers Boost Earnings Estimates for TSE:WPM

Wheaton Precious Metals Corp. (TSE:WPM) – Raymond James raised their FY2024 earnings per share (EPS) estimates for Wheaton Precious Metals in a report issued on Thursday, January 30th. Raymond James analyst B. Macarthur now expects that the company will post earnings of $2.06 per share for the year, up from their previous estimate of $1.90. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $2.47 per share. Raymond James also issued estimates for Wheaton Precious Metals’ Q4 2024 earnings at $0.65 EPS and Q4 2025 earnings at $0.65 EPS.

Several other analysts have also weighed in on WPM. Stifel Canada lowered Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. UBS Group upgraded Wheaton Precious Metals to a “strong-buy” rating in a report on Monday, November 18th. National Bank Financial upgraded Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. Stifel Nicolaus boosted their target price on shares of Wheaton Precious Metals from C$90.00 to C$102.00 in a research note on Monday, October 21st. Finally, National Bankshares upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from C$90.00 to C$105.00 in a research report on Thursday, October 10th. One analyst has rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of C$97.67.

Wheaton Precious Metals Stock Performance

WPM opened at C$91.64 on Monday. The company has a market capitalization of C$41.57 billion, a P/E ratio of 52.97 and a beta of 0.70. The company has a 50-day moving average of C$85.09 and a 200-day moving average of C$84.48. Wheaton Precious Metals has a 1-year low of C$52.15 and a 1-year high of C$94.84.

Wheaton Precious Metals (TSE:WPM) last released its earnings results on Thursday, November 7th. The company reported C$0.47 EPS for the quarter, meeting the consensus estimate of C$0.47. Wheaton Precious Metals had a return on equity of 8.16% and a net margin of 50.44%. During the same quarter in the previous year, the company posted $0.36 earnings per share.

Wheaton Precious Metals Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, December 6th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend was Thursday, November 21st. Wheaton Precious Metals’s dividend payout ratio (DPR) is 48.55%.

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.