Wheaton Precious Metals Corp. (NYSE:WPM) Expected to Announce Quarterly Sales of $321.21 Million

Equities research analysts predict that Wheaton Precious Metals Corp. (NYSE:WPM – Get Rating) will post sales of $321.21 million for the current quarter, Zacks Investment Research reports. Eleven analysts have made estimates for Wheaton Precious Metals’ earnings, with the highest sales estimate coming in at $369.40 million and the lowest estimate coming in at $283.62 million. Wheaton Precious Metals posted sales of $330.39 million during the same quarter last year, which would indicate a negative year over year growth rate of 2.8%. The firm is expected to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Wheaton Precious Metals will report full year sales of $1.28 billion for the current fiscal year, with estimates ranging from $1.15 billion to $1.43 billion. For the next year, analysts forecast that the firm will post sales of $1.36 billion, with estimates ranging from $1.23 billion to $1.56 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Wheaton Precious Metals.

Wheaton Precious Metals (NYSE:WPM – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. Wheaton Precious Metals had a return on equity of 9.86% and a net margin of 62.82%. The business had revenue of $307.24 million for the quarter, compared to the consensus estimate of $313.27 million. During the same period in the previous year, the business earned $0.36 earnings per share. The business’s revenue was down 5.2% on a year-over-year basis.

A number of equities analysts have recently issued reports on WPM shares. StockNews.com initiated coverage on Wheaton Precious Metals in a research report on Thursday, March 31st. They set a “hold” rating on the stock. National Bank Financial increased their price target on Wheaton Precious Metals from C$68.00 to C$75.00 in a research report on Wednesday, April 20th. Raymond James set a $61.00 price target on Wheaton Precious Metals and gave the stock an “outperform” rating in a research report on Friday. Barclays increased their price target on Wheaton Precious Metals from $45.00 to $49.00 in a research report on Thursday, April 21st. Finally, KeyCorp increased their target price on shares of Wheaton Precious Metals from $46.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 19th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Wheaton Precious Metals currently has an average rating of “Buy” and a consensus price target of $58.00.

A number of institutional investors have recently modified their holdings of WPM. First Trust Advisors LP purchased a new position in Wheaton Precious Metals in the 1st quarter valued at about $809,000. SG Americas Securities LLC purchased a new position in Wheaton Precious Metals in the 3rd quarter valued at about $1,126,000. Truist Financial Corp lifted its stake in Wheaton Precious Metals by 11.1% in the 3rd quarter. Truist Financial Corp now owns 26,746 shares of the company’s stock valued at $1,004,000 after buying an additional 2,681 shares in the last quarter. EagleClaw Capital Managment LLC lifted its stake in Wheaton Precious Metals by 3.9% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 142,392 shares of the company’s stock worth $5,355,000 after purchasing an additional 5,400 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in Wheaton Precious Metals by 9,490.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,055 shares of the company’s stock worth $40,000 after purchasing an additional 1,044 shares in the last quarter. 67.90% of the stock is currently owned by hedge funds and other institutional investors.

WPM opened at $44.15 on Friday. The stock has a market cap of $19.92 billion, a price-to-earnings ratio of 26.44, a P/E/G ratio of 6.28 and a beta of 0.50. The stock’s 50 day moving average price is $47.78 and its 200-day moving average price is $43.69. Wheaton Precious Metals has a one year low of $36.39 and a one year high of $51.90.

The business also recently declared a quarterly dividend, which was paid on Thursday, April 7th. Investors of record on Thursday, March 24th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend was Wednesday, March 23rd. Wheaton Precious Metals’s dividend payout ratio is presently 35.93%.

About Wheaton Precious Metals (Get Rating)

Wheaton Precious Metals Corp., a streaming company, primarily sells precious metals in Canada and internationally. The company sells gold, silver, palladium, and cobalt deposits. It has a portfolio of interests in the 23 operating mines and 13 development projects. The company was formerly known as Silver Wheaton Corp.

Read More