WPM Q3 EPS Forecast Decreased by National Bank Financial

Wheaton Precious Metals Corp. (NYSE:WPM) – Equities research analysts at National Bank Financial cut their Q3 2024 earnings estimates for Wheaton Precious Metals in a note issued to investors on Tuesday, October 22nd. National Bank Financial analyst S. Nagle now anticipates that the company will post earnings of $0.33 per share for the quarter, down from their prior forecast of $0.37. National Bank Financial has a “Outperform” rating on the stock. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.45 per share. National Bank Financial also issued estimates for Wheaton Precious Metals’ FY2025 earnings at $1.70 EPS.

Several other equities research analysts also recently weighed in on WPM. Scotiabank increased their price objective 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. Stifel Canada downgraded shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday. TD Securities dropped their price objective on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Berenberg Bank upped their target price on shares of Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Finally, Raymond James raised their price target on Wheaton Precious Metals from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and an average price target of $69.88.

Wheaton Precious Metals Stock Performance

Shares of WPM stock opened at $67.13 on Friday. Wheaton Precious Metals has a 1 year low of $38.57 and a 1 year high of $68.64. The firm has a market cap of $30.45 billion, a price-to-earnings ratio of 51.64, a PEG ratio of 2.48 and a beta of 0.78. The stock’s 50-day moving average is $61.87 and its two-hundred day moving average is $57.51.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. The business had revenue of $299.06 million during the quarter, compared to analysts’ expectations of $309.54 million. During the same quarter in the prior year, the business posted $0.31 EPS. The company’s revenue for the quarter was up 12.9% on a year-over-year basis.

Institutional Investors Weigh In On Wheaton Precious Metals

Institutional investors and hedge funds have recently modified their holdings of the company. Ridgewood Investments LLC acquired a new stake in Wheaton Precious Metals in the second quarter valued at $31,000. Abich Financial Wealth Management LLC purchased a new position in Wheaton Precious Metals during the 2nd quarter valued at about $31,000. Sunbelt Securities Inc. purchased a new position in shares of Wheaton Precious Metals during the 2nd quarter worth approximately $47,000. St. Johns Investment Management Company LLC purchased a new position in shares of Wheaton Precious Metals during the 3rd quarter worth approximately $48,000. Finally, Western Pacific Wealth Management LP raised its position in shares of Wheaton Precious Metals by 19.6% during the 1st quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock worth $63,000 after purchasing an additional 218 shares during the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 0.92%. The ex-dividend date was Wednesday, August 21st. Wheaton Precious Metals’s dividend payout ratio (DPR) is 47.69%.

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.