Raymond James Issues Pessimistic Estimate for WPM Earnings

Wheaton Precious Metals Corp. (NYSE:WPM) – Stock analysts at Raymond James cut their FY2024 earnings per share (EPS) estimates for Wheaton Precious Metals in a report released on Wednesday, February 19th. Raymond James analyst B. Macarthur now expects that the company will post earnings of $1.39 per share for the year, down from their prior forecast of $1.43. Raymond James currently has a “Outperform” rating and a $75.00 target price on the stock. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.46 per share. Raymond James also issued estimates for Wheaton Precious Metals’ Q4 2024 earnings at $0.42 EPS, Q1 2025 earnings at $0.44 EPS, Q3 2025 earnings at $0.47 EPS and FY2025 earnings at $1.81 EPS.

Several other equities research analysts have also recently issued reports on WPM. UBS Group initiated coverage on Wheaton Precious Metals in a report on Monday, November 18th. They set a “buy” rating and a $78.00 price objective on the stock. TD Securities raised their price target 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. Finally, Stifel Canada raised shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Wheaton Precious Metals presently has a consensus rating of “Buy” and an average target price of $71.67.

Wheaton Precious Metals Stock Performance

Shares of WPM opened at $68.01 on Friday. The company has a market capitalization of $30.85 billion, a price-to-earnings ratio of 50.75, a PEG ratio of 1.91 and a beta of 0.77. Wheaton Precious Metals has a 1 year low of $38.57 and a 1 year high of $70.31. The company’s 50 day simple moving average is $60.89 and its 200 day simple moving average is $61.47.

Hedge Funds Weigh In On Wheaton Precious Metals

Several hedge funds and other institutional investors have recently modified their holdings of WPM. Mackenzie Financial Corp raised its holdings in Wheaton Precious Metals by 54.4% in the fourth quarter. Mackenzie Financial Corp now owns 3,223,154 shares of the company’s stock valued at $181,227,000 after buying an additional 1,135,699 shares during the period. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. acquired a new stake in shares of Wheaton Precious Metals in the fourth quarter worth $1,211,000. Public Employees Retirement System of Ohio raised its stake in shares of Wheaton Precious Metals by 163.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 100,791 shares of the company’s stock valued at $5,670,000 after acquiring an additional 62,573 shares during the period. Vise Technologies Inc. lifted its holdings in shares of Wheaton Precious Metals by 102.7% during the 4th quarter. Vise Technologies Inc. now owns 8,587 shares of the company’s stock valued at $483,000 after acquiring an additional 4,351 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Wheaton Precious Metals by 18.9% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,480,885 shares of the company’s stock worth $83,248,000 after purchasing an additional 235,351 shares during the period. 70.34% of the stock is owned by institutional investors and hedge funds.

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.