Edison Inv. Res Has Pessimistic View of WPM FY2024 Earnings

Wheaton Precious Metals Corp. (NYSE:WPM) – Edison Inv. Res reduced their FY2024 earnings estimates for shares of Wheaton Precious Metals in a research report issued to clients and investors on Monday, November 11th. Edison Inv. Res analyst C. Gibson now forecasts that the company will post earnings per share of $1.45 for the year, down from their previous forecast of $1.46. 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 $1.50 EPS.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Friday, November 8th. The company reported $0.34 EPS for the quarter, hitting analysts’ consensus estimates of $0.34. The company had revenue of $308.25 million for 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 quarter last year, the business earned $0.27 EPS.

A number of other equities analysts have also weighed in on the company. Stifel Canada lowered Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. 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 note on Friday, October 4th. National Bank Financial upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Scotiabank upped their target price on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Finally, Raymond James lifted their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, October 25th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $70.88.

Wheaton Precious Metals Stock Performance

WPM opened at $59.05 on Thursday. Wheaton Precious Metals has a fifty-two week low of $38.57 and a fifty-two week high of $68.64. The stock has a market cap of $26.79 billion, a price-to-earnings ratio of 44.07, a price-to-earnings-growth ratio of 2.17 and a beta of 0.77. The firm’s fifty day moving average is $62.76 and its 200 day moving average is $58.75.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Thursday, November 21st. Wheaton Precious Metals’s dividend payout ratio is 46.27%.

Institutional Investors Weigh In On Wheaton Precious Metals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blueshift Asset Management LLC purchased a new position in shares of Wheaton Precious Metals in the 3rd quarter worth approximately $321,000. FMR LLC boosted its stake in Wheaton Precious Metals by 33.7% during the third quarter. FMR LLC now owns 14,665,913 shares of the company’s stock worth $895,723,000 after buying an additional 3,692,594 shares during the period. The Manufacturers Life Insurance Company increased its position in Wheaton Precious Metals by 22.5% during the third quarter. The Manufacturers Life Insurance Company now owns 3,456,230 shares of the company’s stock valued at $211,207,000 after acquiring an additional 634,843 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Wheaton Precious Metals in the third quarter valued at $1,287,000. Finally, Pekin Hardy Strauss Inc. lifted its holdings in shares of Wheaton Precious Metals by 6.6% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 14,496 shares of the company’s stock worth $885,000 after acquiring an additional 901 shares during the last quarter. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

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.