Raymond James Analysts Increase Earnings Estimates for Wheaton Precious Metals Corp. (TSE:WPM)

Wheaton Precious Metals Corp. (TSE:WPM) – Equities research analysts at Raymond James lifted their Q1 2024 earnings estimates for shares of Wheaton Precious Metals in a research report issued to clients and investors on Monday, April 22nd. Raymond James analyst B. Macarthur now anticipates that the company will post earnings per share of $0.45 for the quarter, up from their prior forecast of $0.43. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.55 per share.

Wheaton Precious Metals (TSE:WPM) last posted its quarterly earnings results on Thursday, March 14th. The company reported C$0.49 EPS for the quarter, topping the consensus estimate of C$0.42 by C$0.07. Wheaton Precious Metals had a net margin of 52.92% and a return on equity of 7.85%. The company had revenue of C$426.80 million for the quarter, compared to the consensus estimate of C$381.95 million.

Other equities research analysts have also recently issued research reports about the stock. Canaccord Genuity Group increased their target price on shares of Wheaton Precious Metals from C$80.00 to C$90.00 in a research report on Tuesday. Veritas Investment Research increased their price objective on Wheaton Precious Metals from C$67.00 to C$84.00 in a report on Friday, April 12th. National Bank Financial downgraded Wheaton Precious Metals from an “outperform market weight” rating to a “sector perform overweight” rating in a research note on Wednesday, February 21st. Eight Capital raised their price target on Wheaton Precious Metals from C$82.50 to C$85.00 and gave the stock a “buy” rating in a report on Monday. Finally, National Bankshares lowered Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from C$75.00 to C$68.00 in a research note on Friday, February 23rd.

Wheaton Precious Metals Trading Up 2.0 %

TSE WPM opened at C$73.41 on Thursday. Wheaton Precious Metals has a 52-week low of C$52.15 and a 52-week high of C$74.72. The company’s 50 day simple moving average is C$63.66. The company has a market capitalization of C$33.26 billion, a P/E ratio of 44.99 and a beta of 0.66.

Insider Buying and Selling at Wheaton Precious Metals

In other news, Senior Officer Patrick Eugene Drouin sold 18,640 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of C$62.02, for a total value of C$1,156,052.80. In other Wheaton Precious Metals news, Senior Officer Gary Duncan Brown sold 1,857 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of C$58.96, for a total transaction of C$109,491.69. Also, Senior Officer Patrick Eugene Drouin sold 18,640 shares of Wheaton Precious Metals stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of C$62.02, for a total value of C$1,156,052.80. Over the last quarter, insiders sold 20,664 shares of company stock valued at $1,272,782. Corporate insiders own 0.17% of the company’s stock.

Wheaton Precious Metals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 15th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.14%. The ex-dividend date was Tuesday, April 2nd. This is a positive change from Wheaton Precious Metals’s previous quarterly dividend of $0.15. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 52.50%.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.