Edison Inv. Res Weighs in on Wheaton Precious Metals Corp.’s Q2 2023 Earnings (NYSE:WPM)

Wheaton Precious Metals Corp. (NYSE:WPM – Get Rating) – Equities research analysts at Edison Inv. Res upped their Q2 2023 EPS estimates for Wheaton Precious Metals in a research report issued on Tuesday, March 14th. Edison Inv. Res analyst C. Gibson now expects that the company will post earnings per share of $0.30 for the quarter, up from their previous forecast of $0.27. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.16 per share. Edison Inv. Res also issued estimates for Wheaton Precious Metals’ Q3 2023 earnings at $0.30 EPS and Q4 2023 earnings at $0.31 EPS.

A number of other equities analysts have also recently issued reports on the stock. Raymond James cut their target price on shares of Wheaton Precious Metals from C$52.00 to C$51.00 and set an “outperform” rating for the company in a research report on Wednesday, February 22nd. TheStreet upgraded shares of Wheaton Precious Metals from a “c+” rating to a “b-” rating in a research report on Tuesday, November 22nd. National Bank Financial cut their target price on shares of Wheaton Precious Metals from C$70.00 to C$68.00 in a research report on Tuesday, February 14th. BMO Capital Markets cut their price objective on shares of Wheaton Precious Metals from $52.00 to $51.00 and set an “outperform” rating for the company in a research report on Friday, March 10th. Finally, StockNews.com began coverage on shares of Wheaton Precious Metals in a report on Thursday. They issued a “hold” rating for the company. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.38.

Wheaton Precious Metals Trading Up 4.4 %

Shares of WPM opened at $45.30 on Friday. The stock has a market cap of $20.49 billion, a P/E ratio of 30.61, a PEG ratio of 7.60 and a beta of 0.55. The company has a 50-day moving average of $43.14 and a two-hundred day moving average of $37.95. Wheaton Precious Metals has a 12-month low of $28.62 and a 12-month high of $51.90.

Wheaton Precious Metals (NYSE:WPM – Get Rating) last announced its quarterly earnings data on Friday, March 10th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.01). Wheaton Precious Metals had a net margin of 62.83% and a return on equity of 7.76%. The company had revenue of $236.05 million during the quarter, compared to analyst estimates of $241.70 million. During the same quarter last year, the business earned $0.29 EPS. The firm’s revenue for the quarter was down 15.1% on a year-over-year basis.

Wheaton Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 6th. Shareholders of record on Friday, March 24th will be paid a dividend of $0.15 per share. The ex-dividend date is Thursday, March 23rd. This represents a $0.60 annualized dividend and a yield of 1.32%. Wheaton Precious Metals’s dividend payout ratio is currently 40.54%.

Institutional Investors Weigh In On Wheaton Precious Metals

Several institutional investors have recently bought and sold shares of the business. AE Wealth Management LLC grew its stake in Wheaton Precious Metals by 1.2% during the fourth quarter. AE Wealth Management LLC now owns 20,679 shares of the company’s stock worth $808,000 after buying an additional 246 shares during the period. First Personal Financial Services grew its stake in Wheaton Precious Metals by 24.4% during the fourth quarter. First Personal Financial Services now owns 1,335 shares of the company’s stock worth $52,000 after buying an additional 262 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its stake in Wheaton Precious Metals by 54.7% during the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 792 shares of the company’s stock worth $31,000 after buying an additional 280 shares during the period. Value Partners Investments Inc. grew its stake in Wheaton Precious Metals by 3.1% during the fourth quarter. Value Partners Investments Inc. now owns 9,530 shares of the company’s stock worth $372,000 after buying an additional 289 shares during the period. Finally, Independent Advisor Alliance grew its stake in Wheaton Precious Metals by 3.6% during the third quarter. Independent Advisor Alliance now owns 8,551 shares of the company’s stock worth $277,000 after buying an additional 300 shares during the period. 57.01% of the stock is currently owned by hedge funds and other institutional investors.

About Wheaton Precious Metals

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Wheaton Precious Metals Corp. is a mining company engages in the sale of precious metals and cobalt production. It operates through the following business segments: Gold, Silver, Palladium, Cobalt, and Other. The company was founded by Peter Derek Barnes on December 17, 2004 and is headquartered in Vancouver, Canada.