Zacks Research Has Positive Outlook for WPM Q4 Earnings

Wheaton Precious Metals Corp. (NYSE:WPM) – Research analysts at Zacks Research increased their Q4 2024 earnings per share (EPS) estimates for shares of Wheaton Precious Metals in a research report issued to clients and investors on Thursday, November 14th. Zacks Research analyst M. Das now forecasts that the company will post earnings of $0.38 per share for the quarter, up from their prior estimate of $0.37. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.44 per share.

WPM has been the topic of a number of other research reports. TD Securities raised their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Scotiabank raised their target price on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Stifel Canada downgraded Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Raymond James raised their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, National Bank Financial raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $70.88.

Wheaton Precious Metals Stock Performance

WPM stock opened at $58.67 on Monday. The company’s 50-day simple moving average is $62.76 and its 200 day simple moving average is $58.88. Wheaton Precious Metals has a 52 week low of $38.57 and a 52 week high of $68.64. The company has a market capitalization of $26.62 billion, a PE ratio of 43.78, a price-to-earnings-growth ratio of 2.14 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.34. The company had revenue of $308.25 million during the quarter, compared to analysts’ expectations of $324.57 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. During the same quarter last year, the company posted $0.27 EPS.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ridgewood Investments LLC purchased a new stake in shares of Wheaton Precious Metals during the 2nd quarter valued at approximately $31,000. Abich Financial Wealth Management LLC bought a new stake in shares of Wheaton Precious Metals during the 2nd quarter valued at $31,000. St. Johns Investment Management Company LLC bought a new position in Wheaton Precious Metals in the 3rd quarter worth about $48,000. Sunbelt Securities Inc. purchased a new position in Wheaton Precious Metals during the 2nd quarter valued at about $47,000. Finally, Dunhill Financial LLC increased its position in shares of Wheaton Precious Metals by 200.9% during the third quarter. Dunhill Financial LLC now owns 1,050 shares of the company’s stock valued at $64,000 after buying an additional 701 shares during the period. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wheaton Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Thursday, November 21st will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Thursday, November 21st. Wheaton Precious Metals’s payout ratio is currently 46.27%.

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.