Edison Inv. Res Research Analysts Cut Earnings Estimates for Wheaton Precious Metals Corp. (NYSE:WPM)

Wheaton Precious Metals Corp. (NYSE:WPM – Get Rating) – Research analysts at Edison Inv. Res lowered their Q2 2022 EPS estimates for Wheaton Precious Metals in a report released on Thursday, May 5th. Edison Inv. Res analyst C. Gibson now expects that the company will post earnings of $0.37 per share for the quarter, down from their previous estimate of $0.39. Edison Inv. Res also issued estimates for Wheaton Precious Metals’ Q3 2022 earnings at $0.36 EPS, Q4 2022 earnings at $0.36 EPS and FY2022 earnings at $1.43 EPS.

Other analysts have also recently issued reports about the stock. Raymond James set a $61.00 price target on shares of Wheaton Precious Metals and gave the company an “outperform” rating in a research note on Friday. StockNews.com initiated coverage on shares of Wheaton Precious Metals in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. 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. Barclays increased their target price on shares of Wheaton Precious Metals from $45.00 to $49.00 in a research note on Thursday, April 21st. Finally, National Bank Financial increased their target price on shares of Wheaton Precious Metals from C$68.00 to C$75.00 in a research note on Wednesday, April 20th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Wheaton Precious Metals presently has a consensus rating of “Buy” and a consensus target price of $58.00.

Shares of WPM stock opened at $44.15 on Monday. The stock has a market capitalization of $19.92 billion, a P/E ratio of 26.44, a PEG ratio of 6.06 and a beta of 0.50. The firm’s 50 day moving average is $47.78 and its 200 day moving average is $43.71. Wheaton Precious Metals has a 12 month low of $36.39 and a 12 month high of $51.90.

Wheaton Precious Metals (NYSE:WPM – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The company had revenue of $307.24 million for the quarter, compared to analysts’ expectations of $313.27 million. Wheaton Precious Metals had a net margin of 63.33% and a return on equity of 9.71%. Wheaton Precious Metals’s revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.36 EPS.

The company also recently declared a quarterly dividend, which was paid on Thursday, April 7th. Shareholders of record on Thursday, March 24th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend was Wednesday, March 23rd. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 35.93%.

Hedge funds have recently modified their holdings of the business. U S Global Investors Inc. lifted its stake in shares of Wheaton Precious Metals by 9.2% in the 1st quarter. U S Global Investors Inc. now owns 331,207 shares of the company’s stock valued at $15,759,000 after acquiring an additional 27,976 shares during the last quarter. CIBC Asset Management Inc raised its holdings in Wheaton Precious Metals by 74.5% in the first quarter. CIBC Asset Management Inc now owns 1,071,270 shares of the company’s stock worth $51,001,000 after buying an additional 457,214 shares during the last quarter. Aigen Investment Management LP purchased a new position in Wheaton Precious Metals in the first quarter worth about $763,000. Philadelphia Trust Co. purchased a new position in Wheaton Precious Metals in the first quarter worth about $3,340,000. Finally, National Bank of Canada FI grew its position in Wheaton Precious Metals by 22.3% in the 1st quarter. National Bank of Canada FI now owns 185,135 shares of the company’s stock worth $8,885,000 after purchasing an additional 33,767 shares during the period. 67.90% of the stock is owned by hedge funds and other institutional investors.

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.

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