Wheaton Precious Metals Corp. (NYSE:WPM) Forecasted to Post Q2 2024 Earnings of $0.27 Per Share

Wheaton Precious Metals Corp. (NYSE:WPMFree Report) – Equities researchers at Zacks Research reduced their Q2 2024 earnings estimates for shares of Wheaton Precious Metals in a research note issued 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 previous estimate 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:WPMGet Free Report) last posted its earnings results on Thursday, May 9th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.07. The business had revenue of $296.80 million for the quarter, compared to analyst estimates of $278.95 million. Wheaton Precious Metals had a net margin of 53.74% and a return on equity of 8.53%. The company’s revenue for the quarter was up 38.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.23 EPS.

Several other equities research analysts have also recently issued reports on WPM. TD Securities upgraded Wheaton Precious Metals from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $51.00 to $53.00 in a report on Monday, March 18th. Berenberg Bank lifted their price target on Wheaton Precious Metals from $52.00 to $54.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. BMO Capital Markets decreased their price objective on Wheaton Precious Metals from $61.00 to $59.00 and set an “outperform” rating on the stock in a report on Wednesday, February 21st. Scotiabank dropped 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 note on Wednesday, February 28th. Finally, National Bank Financial downgraded Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, February 21st. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and an average target price of $57.25.

Check Out Our Latest Stock Analysis on Wheaton Precious Metals

Wheaton Precious Metals Trading Up 2.1 %

Shares of WPM opened at $57.01 on Monday. Wheaton Precious Metals has a 12 month low of $38.37 and a 12 month high of $57.33. The firm has a market cap of $25.84 billion, a P/E ratio of 43.85, a PEG ratio of 7.60 and a beta of 0.75. The stock’s 50 day moving average is $50.47 and its two-hundred day moving average is $47.71.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 29th will be given a $0.155 dividend. 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 dividend payout ratio is currently 47.69%.

Institutional Trading of Wheaton Precious Metals

Institutional investors and hedge funds have recently bought and sold shares of the business. Duality Advisers LP purchased a new position in Wheaton Precious Metals in the third quarter valued at $913,000. Stack Financial Management Inc grew its stake in shares of Wheaton Precious Metals by 0.9% during the third quarter. Stack Financial Management Inc now owns 374,816 shares of the company’s stock worth $15,199,000 after purchasing an additional 3,527 shares in the last quarter. Signaturefd LLC increased its holdings in Wheaton Precious Metals by 3.2% in the third quarter. Signaturefd LLC now owns 11,562 shares of the company’s stock valued at $469,000 after buying an additional 363 shares during the last quarter. Syon Capital LLC acquired a new stake in Wheaton Precious Metals in the third quarter valued at $254,000. Finally, Euro Pacific Asset Management LLC boosted its position in shares of Wheaton Precious Metals by 0.8% during the 3rd quarter. Euro Pacific Asset Management LLC now owns 330,489 shares of the company’s stock worth $13,400,000 after acquiring an additional 2,489 shares in the last quarter. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wheaton Precious Metals Company Profile

(Get Free Report)

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.

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

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