Wheaton Precious Metals Corp. to Post Q2 2024 Earnings of $0.34 Per Share, Raymond James Forecasts (TSE:WPM)

Wheaton Precious Metals Corp. (TSE:WPM) – Research analysts at Raymond James decreased their Q2 2024 earnings per share (EPS) estimates for shares of Wheaton Precious Metals in a note issued to investors on Monday, July 8th. Raymond James analyst B. Macarthur now anticipates that the company will earn $0.34 per share for the quarter, down from their previous forecast of $0.45. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.85 per share. Raymond James also issued estimates for Wheaton Precious Metals’ Q3 2024 earnings at $0.49 EPS, Q4 2024 earnings at $0.52 EPS, Q1 2025 earnings at $0.49 EPS, Q2 2025 earnings at $0.50 EPS, Q3 2025 earnings at $0.52 EPS and Q4 2025 earnings at $0.53 EPS.

WPM has been the topic of a number of other reports. Veritas Investment Research upped their price target on Wheaton Precious Metals from C$67.00 to C$84.00 in a research note on Friday, April 12th. Canaccord Genuity Group raised their price objective on shares of Wheaton Precious Metals from C$80.00 to C$90.00 in a report on Tuesday, April 23rd. National Bankshares boosted their target price on Wheaton Precious Metals from C$80.00 to C$85.00 and gave the stock a “sector perform” rating in a research note on Monday, May 13th. Eight Capital raised their price objective on Wheaton Precious Metals from C$85.00 to C$95.00 in a report on Thursday. Finally, Stifel Nicolaus upped their price target on shares of Wheaton Precious Metals from C$72.00 to C$80.00 and gave the company a “buy” rating in a research report on Friday, April 19th.

Wheaton Precious Metals Stock Performance

Shares of WPM opened at C$80.81 on Wednesday. The firm has a 50-day moving average of C$74.81. The stock has a market cap of C$36.63 billion, a price-to-earnings ratio of 45.66 and a beta of 0.63. Wheaton Precious Metals has a 12-month low of C$52.15 and a 12-month high of C$81.12.

Wheaton Precious Metals (TSE:WPM) last posted its quarterly earnings results on Thursday, May 9th. The company reported C$0.49 earnings per share for the quarter, beating the consensus estimate of C$0.40 by C$0.09. Wheaton Precious Metals had a net margin of 53.74% and a return on equity of 8.50%. The business had revenue of C$400.14 million during the quarter, compared to analysts’ expectations of C$391.32 million.

Wheaton Precious Metals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, June 11th were given a dividend of $0.214 per share. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $0.86 annualized dividend and a yield of 1.06%. Wheaton Precious Metals’s payout ratio is presently 48.02%.

Insider Transactions at Wheaton Precious Metals

In other Wheaton Precious Metals news, Senior Officer Randy Smallwood sold 94,090 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of C$73.70, for a total value of C$6,934,433.00. In related news, Senior Officer Haytham Henry Hodaly sold 16,500 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of C$76.64, for a total value of C$1,264,560.00. Also, Senior Officer Randy Smallwood sold 94,090 shares of Wheaton Precious Metals stock in a transaction on Thursday, June 20th. The stock was sold at an average price of C$73.70, for a total value of C$6,934,433.00. In the last three months, insiders sold 151,660 shares of company stock valued at $11,281,465. Corporate insiders own 0.13% of the company’s stock.

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.