Scotiabank Issues Optimistic Forecast for TSE:WPM Earnings

Wheaton Precious Metals Corp. (TSE:WPM) – Analysts at Scotiabank raised their FY2024 EPS estimates for Wheaton Precious Metals in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now anticipates that the company will post earnings of $2.08 per share for the year, up from their previous forecast of $1.81. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $2.47 per share. Scotiabank also issued estimates for Wheaton Precious Metals’ FY2025 earnings at $2.72 EPS and FY2026 earnings at $2.88 EPS.

Several other equities research analysts also recently issued reports on WPM. National Bankshares upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from C$90.00 to C$105.00 in a research report on Thursday, October 10th. Stifel Nicolaus increased their target price on Wheaton Precious Metals from C$90.00 to C$102.00 in a research note on Monday, October 21st. Eight Capital boosted their price target on Wheaton Precious Metals from C$95.00 to C$100.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. UBS Group raised Wheaton Precious Metals to a “strong-buy” rating in a report on Monday, November 18th. Finally, Peel Hunt lifted their target price on Wheaton Precious Metals from C$82.00 to C$95.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$97.67.

Wheaton Precious Metals Stock Performance

Shares of WPM stock opened at C$81.73 on Monday. Wheaton Precious Metals has a 52 week low of C$52.15 and a 52 week high of C$94.84. The company has a market capitalization of C$37.08 billion, a price-to-earnings ratio of 47.24 and a beta of 0.70. The company has a 50-day simple moving average of C$85.23 and a 200 day simple moving average of C$83.26.

Wheaton Precious Metals Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, December 6th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend was Thursday, November 21st. Wheaton Precious Metals’s payout ratio is 48.55%.

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.