Eight Capital Comments on Wheaton Precious Metals Corp.’s Q1 2024 Earnings (NYSE:WPM)

Wheaton Precious Metals Corp. (NYSE:WPMFree Report) – Equities researchers at Eight Capital dropped their Q1 2024 earnings estimates for shares of Wheaton Precious Metals in a note issued to investors on Monday, January 29th. Eight Capital analyst R. Profiti now expects that the company will post earnings per share of $0.32 for the quarter, down from their previous forecast of $0.37. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.10 per share. Eight Capital also issued estimates for Wheaton Precious Metals’ Q2 2024 earnings at $0.32 EPS, Q3 2024 earnings at $0.33 EPS, Q4 2024 earnings at $0.34 EPS, FY2024 earnings at $1.31 EPS, Q1 2025 earnings at $0.35 EPS, Q2 2025 earnings at $0.36 EPS, Q4 2025 earnings at $0.36 EPS and FY2028 earnings at $1.43 EPS.

WPM has been the subject of several other reports. Raymond James boosted their price objective on Wheaton Precious Metals from $57.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, January 12th. TheStreet lowered shares of Wheaton Precious Metals from a “b-” rating to a “c+” rating in a research note on Friday, November 10th. Berenberg Bank dropped their price target on Wheaton Precious Metals from $61.00 to $58.00 and set a “buy” rating on the stock in a research note on Wednesday, October 11th. BMO Capital Markets decreased their price objective on Wheaton Precious Metals from $58.00 to $57.00 and set an “outperform” rating for the company in a report on Friday, November 10th. Finally, StockNews.com initiated coverage on Wheaton Precious Metals in a research report on Thursday, October 5th. They set a “hold” rating for the company. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and a consensus target price of $62.13.

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Wheaton Precious Metals Trading Down 1.1 %

NYSE:WPM opened at $46.87 on Wednesday. Wheaton Precious Metals has a 1 year low of $38.37 and a 1 year high of $52.76. The stock has a 50-day moving average price of $48.13 and a two-hundred day moving average price of $44.83. The stock has a market cap of $21.24 billion, a price-to-earnings ratio of 39.39, a PEG ratio of 9.38 and a beta of 0.81.

Wheaton Precious Metals (NYSE:WPMGet Free Report) last announced its quarterly earnings results on Thursday, November 9th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.02. The company had revenue of $223.14 million during the quarter, compared to analyst estimates of $241.33 million. Wheaton Precious Metals had a net margin of 57.03% and a return on equity of 6.94%.

Wheaton Precious Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Tuesday, November 28th were given a dividend of $0.15 per share. The ex-dividend date was Monday, November 27th. This represents a $0.60 annualized dividend and a yield of 1.28%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 50.42%.

Hedge Funds Weigh In On Wheaton Precious Metals

Institutional investors and hedge funds have recently made changes to their positions in the company. First Eagle Investment Management LLC grew its position in Wheaton Precious Metals by 3.2% during the third quarter. First Eagle Investment Management LLC now owns 20,998,263 shares of the company’s stock worth $851,480,000 after buying an additional 644,746 shares in the last quarter. Vanguard Group Inc. raised its stake in Wheaton Precious Metals by 1.6% in the third quarter. Vanguard Group Inc. now owns 16,203,069 shares of the company’s stock valued at $657,034,000 after purchasing an additional 248,541 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Wheaton Precious Metals by 10.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,585,266 shares of the company’s stock worth $307,583,000 after buying an additional 713,381 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Wheaton Precious Metals by 6.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,344,956 shares of the company’s stock valued at $301,893,000 after buying an additional 361,138 shares during the period. Finally, Norges Bank bought a new position in Wheaton Precious Metals in the 4th quarter valued at about $243,010,000. Institutional investors and hedge funds own 58.51% of the company’s stock.

Wheaton Precious Metals Company Profile

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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 10, 2017. Wheaton Precious Metals Corp.

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Earnings History and Estimates for Wheaton Precious Metals (NYSE:WPM)

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