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

Wheaton Precious Metals Corp. (NYSE:WPMGet 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:WPMGet 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.

Further Reading

Earnings History and Estimates for Wheaton Precious Metals (NYSE:WPM)

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