Raymond James Weighs in on Wheaton Precious Metals Corp.’s Q1 2022 Earnings (NYSE:WPM)

Wheaton Precious Metals Corp. (NYSE:WPM – Get Rating) – Analysts at Raymond James upped their Q1 2022 earnings estimates for Wheaton Precious Metals in a report released on Tuesday, April 19th. Raymond James analyst B. Macarthur now expects that the company will earn $0.37 per share for the quarter, up from their prior forecast of $0.35. Raymond James currently has a “Outperform” rating and a $56.00 target price on the stock. Raymond James also issued estimates for Wheaton Precious Metals’ Q2 2022 earnings at $0.36 EPS, Q3 2022 earnings at $0.38 EPS, Q4 2022 earnings at $0.38 EPS, FY2022 earnings at $1.48 EPS, Q1 2023 earnings at $0.36 EPS, Q2 2023 earnings at $0.35 EPS, Q3 2023 earnings at $0.37 EPS and Q4 2023 earnings at $0.38 EPS.

Wheaton Precious Metals (NYSE:WPM – Get Rating) last released its quarterly earnings results on Thursday, March 10th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.02). The business had revenue of $278.20 million during the quarter, compared to analysts’ expectations of $287.99 million. Wheaton Precious Metals had a net margin of 62.82% and a return on equity of 9.86%. The business’s revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.33 EPS.

WPM has been the subject of a number of other reports. StockNews.com assumed coverage on shares of Wheaton Precious Metals in a report on Thursday, March 31st. They set a “hold” rating for the company. KeyCorp increased their price objective on Wheaton Precious Metals from $46.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, National Bank Financial upped their target price on Wheaton Precious Metals from C$68.00 to C$75.00 in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $58.67.

WPM stock opened at $51.71 on Thursday. The firm has a 50 day simple moving average of $47.17 and a two-hundred day simple moving average of $43.12. The stock has a market cap of $23.31 billion, a PE ratio of 30.78, a P/E/G ratio of 7.25 and a beta of 0.48. Wheaton Precious Metals has a one year low of $36.39 and a one year high of $51.91.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Elevated Capital Advisors LLC bought a new stake in Wheaton Precious Metals in the 1st quarter worth $609,000. Sigma Planning Corp bought a new stake in shares of Wheaton Precious Metals in the first quarter worth about $204,000. Well Done LLC purchased a new position in Wheaton Precious Metals during the 1st quarter valued at about $210,000. Selective Wealth Management Inc. bought a new position in Wheaton Precious Metals during the 1st quarter valued at approximately $33,000. Finally, St. Johns Investment Management Company LLC lifted its holdings in Wheaton Precious Metals by 51.6% in the 1st quarter. St. Johns Investment Management Company LLC now owns 2,368 shares of the company’s stock worth $113,000 after buying an additional 806 shares during the period. 68.35% of the stock is currently owned by institutional investors.

The business also recently declared a quarterly dividend, which was paid on Thursday, April 7th. Shareholders of record on Thursday, March 24th were paid a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, March 23rd. This represents a $0.60 dividend on an annualized basis and a yield of 1.16%. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 35.71%.

About Wheaton Precious Metals (Get Rating)

Wheaton Precious Metals Corp., a mining company, primarily sells precious metals in Canada and internationally. The company sells gold, silver, palladium, and cobalt deposits. It has agreements for 23 operating mining assets and 10 development stage projects. The company was formerly known as Silver Wheaton Corp.

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