Research Analysts Issue Forecasts for Wheaton Precious Metals Corp.’s Q2 2024 Earnings (NYSE:WPM)

Wheaton Precious Metals Corp. (NYSE:WPM) – Equities researchers at Zacks Research dropped their Q2 2024 EPS estimates for Wheaton Precious Metals in a note issued to investors on Friday, May 17th. Zacks Research analyst M. Das now expects that the company will post earnings of $0.27 per share for the quarter, down from their prior forecast of $0.28. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.28 per share. Zacks Research also issued estimates for Wheaton Precious Metals’ Q3 2024 earnings at $0.28 EPS, Q1 2026 earnings at $0.33 EPS and FY2026 earnings at $1.33 EPS.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The firm had revenue of $296.80 million during the quarter, compared to analysts’ expectations of $278.95 million. Wheaton Precious Metals had a net margin of 53.74% and a return on equity of 8.53%. The firm’s revenue was up 38.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.23 EPS.

WPM has been the subject of a number of other research reports. BMO Capital Markets decreased their price target on Wheaton Precious Metals from $61.00 to $59.00 and set an “outperform” rating for the company in a report on Wednesday, February 21st. Jefferies Financial Group upped their target price on shares of Wheaton Precious Metals from $52.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. TD Securities raised shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating and lifted their price target for the stock from $51.00 to $53.00 in a research note on Monday, March 18th. Scotiabank decreased their price objective on shares of Wheaton Precious Metals from $60.00 to $59.00 and set a “sector outperform” rating for the company in a research report on Wednesday, February 28th. Finally, Berenberg Bank raised their target price on Wheaton Precious Metals from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.25.

Wheaton Precious Metals Price Performance

Shares of NYSE WPM opened at $57.01 on Monday. The company has a market capitalization of $25.84 billion, a price-to-earnings ratio of 43.85, a PEG ratio of 7.60 and a beta of 0.75. Wheaton Precious Metals has a 1-year low of $38.37 and a 1-year high of $57.33. The business has a 50-day moving average of $50.47 and a 200-day moving average of $47.71.

Hedge Funds Weigh In On Wheaton Precious Metals

Large investors have recently added to or reduced their stakes in the company. Fielder Capital Group LLC acquired a new stake in shares of Wheaton Precious Metals during the fourth quarter worth $1,046,000. Sprott Inc. boosted its stake in Wheaton Precious Metals by 4.8% in the third quarter. Sprott Inc. now owns 799,533 shares of the company’s stock valued at $32,421,000 after acquiring an additional 36,654 shares during the period. Douglas Lane & Associates LLC grew its holdings in shares of Wheaton Precious Metals by 31.4% during the fourth quarter. Douglas Lane & Associates LLC now owns 408,449 shares of the company’s stock valued at $20,153,000 after purchasing an additional 97,535 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Wheaton Precious Metals by 4.4% during the third quarter. Deutsche Bank AG now owns 3,623,133 shares of the company’s stock valued at $146,918,000 after purchasing an additional 152,826 shares during the last quarter. Finally, Bryn Mawr Capital Management LLC acquired a new stake in shares of Wheaton Precious Metals during the 4th quarter worth approximately $1,509,000. 70.34% of the stock is currently owned by institutional investors.

Wheaton Precious Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 29th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 1.09%. The ex-dividend date is Wednesday, May 29th. Wheaton Precious Metals’s payout ratio is currently 47.69%.

About Wheaton Precious Metals

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.