Wheaton Precious Metals (NYSE:WPM) Posts Quarterly Earnings Results, Hits Estimates

Wheaton Precious Metals (NYSE:WPM) posted its quarterly earnings data on Friday. The company reported $0.34 EPS 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 return on equity of 8.91% and a net margin of 50.05%. During the same quarter last year, the business posted $0.27 EPS.

Wheaton Precious Metals Stock Performance

Shares of NYSE:WPM traded down $3.80 during trading on Monday, reaching $61.02. 2,405,889 shares of the stock were exchanged, compared to its average volume of 1,778,033. The firm’s 50-day moving average price is $62.77 and its 200 day moving average price is $58.71. The firm has a market cap of $27.68 billion, a price-to-earnings ratio of 45.54, a price-to-earnings-growth ratio of 2.37 and a beta of 0.77. Wheaton Precious Metals has a 12-month low of $38.57 and a 12-month high of $68.64.

Wheaton Precious Metals Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on WPM. TD Securities lifted their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday. Stifel Canada cut Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. National Bank Financial upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Scotiabank lifted their price target on Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Finally, Raymond James lifted their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.