Edison Inv. Res Has Pessimistic View of WPM FY2024 Earnings

Wheaton Precious Metals Corp. (NYSE:WPM) – Research analysts at Edison Inv. Res cut their FY2024 EPS estimates for shares of Wheaton Precious Metals in a note issued to investors on Wednesday, December 11th. Edison Inv. Res analyst C. Gibson now anticipates that the company will earn $1.44 per share for the year, down from their previous forecast of $1.45. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.44 per share. Edison Inv. Res also issued estimates for Wheaton Precious Metals’ FY2026 earnings at $1.52 EPS.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.34. The company 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 8.85%. During the same period last year, the company posted $0.27 EPS.

WPM has been the subject of a number of other reports. National Bank Financial raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Raymond James raised their target price on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. TD Securities boosted their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a report on Friday, November 8th. Jefferies Financial Group upped their price target on Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Finally, Scotiabank boosted their price objective on Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Wheaton Precious Metals presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.67.

Wheaton Precious Metals Stock Performance

Shares of NYSE:WPM opened at $61.39 on Friday. The business has a 50-day simple moving average of $62.99 and a two-hundred day simple moving average of $59.74. The firm has a market cap of $27.85 billion, a price-to-earnings ratio of 45.81, a price-to-earnings-growth ratio of 1.77 and a beta of 0.75. Wheaton Precious Metals has a fifty-two week low of $38.57 and a fifty-two week high of $68.64.

Wheaton Precious Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Thursday, November 21st were issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Thursday, November 21st. Wheaton Precious Metals’s payout ratio is 46.27%.

Institutional Investors Weigh In On Wheaton Precious Metals

Institutional investors have recently added to or reduced their stakes in the stock. Ridgewood Investments LLC acquired a new stake in shares of Wheaton Precious Metals in the 2nd quarter worth $31,000. Abich Financial Wealth Management LLC acquired a new stake in Wheaton Precious Metals in the second quarter worth about $31,000. Sunbelt Securities Inc. purchased a new stake in shares of Wheaton Precious Metals during the second quarter worth about $47,000. St. Johns Investment Management Company LLC acquired a new position in shares of Wheaton Precious Metals during the third quarter valued at about $48,000. Finally, Dunhill Financial LLC raised its position in shares of Wheaton Precious Metals by 200.9% in the 3rd quarter. Dunhill Financial LLC now owns 1,050 shares of the company’s stock valued at $64,000 after purchasing an additional 701 shares during the last quarter. Institutional investors own 70.34% of the company’s stock.

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.