FY2029 Earnings Forecast for WPM Issued By Edison Inv. Res

Wheaton Precious Metals Corp. (NYSE:WPM) – Investment analysts at Edison Inv. Res lowered their FY2029 earnings estimates for Wheaton Precious Metals in a research note issued on Thursday, October 23rd. Edison Inv. Res analyst L. Ashbourne now anticipates that the company will post earnings of $2.04 per share for the year, down from their previous estimate of $2.09. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.46 per share.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The firm had revenue of $503.22 million during the quarter, compared to analyst estimates of $424.23 million. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. The business’s revenue for the quarter was up 68.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.33 EPS.

Several other brokerages have also commented on WPM. UBS Group boosted their price objective on Wheaton Precious Metals from $118.00 to $122.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of Wheaton Precious Metals in a report on Friday. Raymond James Financial boosted their price target on shares of Wheaton Precious Metals from $114.00 to $127.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. CIBC boosted their price target on shares of Wheaton Precious Metals from $135.00 to $160.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Finally, Scotiabank reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $119.00.

Wheaton Precious Metals Stock Down 0.1%

Wheaton Precious Metals stock opened at $98.09 on Monday. Wheaton Precious Metals has a 52 week low of $55.47 and a 52 week high of $114.36. The business has a 50-day simple moving average of $103.84 and a 200 day simple moving average of $93.62. The stock has a market cap of $44.53 billion, a price-to-earnings ratio of 56.70, a PEG ratio of 1.75 and a beta of 0.41.

Wheaton Precious Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were paid a $0.165 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.7%. Wheaton Precious Metals’s dividend payout ratio is 38.15%.

Institutional Trading of Wheaton Precious Metals

Several institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in Wheaton Precious Metals during the 2nd quarter valued at about $656,463,000. Invesco Ltd. boosted its holdings in Wheaton Precious Metals by 139.8% during the 2nd quarter. Invesco Ltd. now owns 2,085,042 shares of the company’s stock valued at $187,237,000 after acquiring an additional 1,215,660 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of Wheaton Precious Metals by 57.6% during the first quarter. Canada Pension Plan Investment Board now owns 2,097,735 shares of the company’s stock valued at $162,811,000 after purchasing an additional 766,947 shares during the period. Amundi boosted its stake in shares of Wheaton Precious Metals by 33.2% during the first quarter. Amundi now owns 2,745,947 shares of the company’s stock valued at $215,557,000 after purchasing an additional 683,674 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in shares of Wheaton Precious Metals by 24.8% during the second quarter. CIBC Asset Management Inc now owns 3,185,420 shares of the company’s stock valued at $288,255,000 after purchasing an additional 632,464 shares during the period. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

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.