Equities Analysts Set Expectations for WPM FY2024 Earnings

Wheaton Precious Metals Corp. (NYSE:WPM) – Investment analysts at National Bank Financial increased their FY2024 earnings per share (EPS) estimates for Wheaton Precious Metals in a research note issued on Wednesday, February 19th. National Bank Financial analyst S. Nagle now anticipates that the company will post earnings of $1.46 per share for the year, up from their prior forecast of $1.45. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.46 per share. National Bank Financial also issued estimates for Wheaton Precious Metals’ Q4 2024 earnings at $0.43 EPS, Q4 2024 earnings at $0.43 EPS, FY2024 earnings at $1.46 EPS, FY2026 earnings at $1.69 EPS and FY2026 earnings at $1.69 EPS.

Several other brokerages have also recently commented on WPM. TD Securities increased their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, November 8th. UBS Group assumed coverage on shares of Wheaton Precious Metals in a research report on Monday, November 18th. They issued a “buy” rating and a $78.00 price objective for the company. Finally, Stifel Canada upgraded Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $71.67.

Wheaton Precious Metals Price Performance

Shares of NYSE WPM opened at $68.87 on Monday. The company’s 50 day simple moving average is $61.07 and its 200 day simple moving average is $61.67. Wheaton Precious Metals has a fifty-two week low of $38.57 and a fifty-two week high of $70.31. The firm has a market capitalization of $31.25 billion, a P/E ratio of 51.40, a P/E/G ratio of 1.91 and a beta of 0.77.

Institutional Trading of Wheaton Precious Metals

A number of hedge funds and other institutional investors have recently made changes to their positions in WPM. Fielder Capital Group LLC grew its position in Wheaton Precious Metals by 0.7% in the fourth quarter. Fielder Capital Group LLC now owns 24,701 shares of the company’s stock valued at $1,389,000 after purchasing an additional 176 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Wheaton Precious Metals by 1.5% during the 4th quarter. Signaturefd LLC now owns 11,877 shares of the company’s stock worth $668,000 after buying an additional 178 shares during the last quarter. Merit Financial Group LLC increased its position in shares of Wheaton Precious Metals by 3.9% during the 4th quarter. Merit Financial Group LLC now owns 4,818 shares of the company’s stock worth $271,000 after purchasing an additional 179 shares during the last quarter. Insigneo Advisory Services LLC lifted its stake in Wheaton Precious Metals by 2.2% in the 3rd quarter. Insigneo Advisory Services LLC now owns 8,553 shares of the company’s stock valued at $522,000 after purchasing an additional 187 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in Wheaton Precious Metals by 1.0% during the third quarter. Principal Financial Group Inc. now owns 19,761 shares of the company’s stock worth $1,208,000 after buying an additional 196 shares during the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.

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.