Wheaton Precious Metals (NYSE:WPM) Announces Quarterly Earnings Results, Hits Expectations

Wheaton Precious Metals (NYSE:WPM) issued its quarterly earnings results on Friday. The company reported $0.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.34, Zacks reports. The firm 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 8.91%. During the same quarter in the prior year, the business earned $0.27 EPS.

Wheaton Precious Metals Stock Performance

NYSE:WPM traded down $3.80 during mid-day trading on Monday, hitting $61.02. 2,405,889 shares of the company’s stock traded hands, compared to its average volume of 1,778,033. The company has a market cap of $27.68 billion, a PE ratio of 45.54, a price-to-earnings-growth ratio of 2.37 and a beta of 0.77. The firm’s 50 day simple moving average is $62.77 and its 200 day simple moving average is $58.71. Wheaton Precious Metals has a 1 year low of $38.57 and a 1 year high of $68.64.

Wheaton Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Thursday, November 21st will be paid a $0.155 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.62 dividend on an annualized basis and a yield of 1.02%. Wheaton Precious Metals’s payout ratio is 46.27%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on WPM. Jefferies Financial Group increased their target price on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. National Bank Financial raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Scotiabank lifted their price objective on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Stifel Canada downgraded shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Finally, Raymond James increased their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Wheaton Precious Metals has a consensus rating of “Moderate Buy” and a consensus target price of $70.88.

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.