What is Stifel Canada’s Forecast for WPM FY2024 Earnings?

Wheaton Precious Metals Corp. (NYSE:WPM) – Stifel Canada boosted their FY2024 earnings per share (EPS) estimates for Wheaton Precious Metals in a research report issued to clients and investors on Monday, October 21st. Stifel Canada analyst I. Rico now expects that the company will post earnings per share of $1.43 for the year, up from their previous forecast of $1.42. Stifel Canada has a “Hold” rating on the stock. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.44 per share.

Several other equities research analysts have also commented on the stock. Berenberg Bank boosted their price target on shares of Wheaton Precious Metals from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Jefferies Financial Group upped their price target on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Raymond James lifted their price objective on Wheaton Precious Metals from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th. Bank of America boosted their price objective on Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Finally, CIBC raised their target price on Wheaton Precious Metals from $75.00 to $80.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and a consensus target price of $69.88.

Wheaton Precious Metals Trading Up 2.5 %

Shares of WPM opened at $68.53 on Wednesday. The firm has a market cap of $31.09 billion, a P/E ratio of 54.39, a PEG ratio of 2.45 and a beta of 0.78. The stock’s 50 day moving average is $61.49 and its two-hundred day moving average is $57.37. Wheaton Precious Metals has a 12 month low of $38.57 and a 12 month high of $68.64.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $299.06 million for the quarter, compared to the consensus estimate of $309.54 million. During the same period in the prior year, the firm posted $0.31 earnings per share. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of WPM. First Eagle Investment Management LLC raised its stake in Wheaton Precious Metals by 1.4% during the first quarter. First Eagle Investment Management LLC now owns 21,403,409 shares of the company’s stock worth $1,008,743,000 after purchasing an additional 292,968 shares during the period. Van ECK Associates Corp lifted its holdings in Wheaton Precious Metals by 1.0% in the second quarter. Van ECK Associates Corp now owns 19,984,984 shares of the company’s stock valued at $1,047,621,000 after acquiring an additional 197,426 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Wheaton Precious Metals by 1.7% in the first quarter. Vanguard Group Inc. now owns 16,770,475 shares of the company’s stock valued at $790,392,000 after acquiring an additional 272,918 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Wheaton Precious Metals by 16.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,309,175 shares of the company’s stock worth $344,483,000 after acquiring an additional 1,010,307 shares during the period. Finally, TD Asset Management Inc raised its position in Wheaton Precious Metals by 22.5% in the second quarter. TD Asset Management Inc now owns 5,950,317 shares of the company’s stock valued at $311,920,000 after purchasing an additional 1,092,480 shares during the period. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were issued a dividend of $0.155 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.62 annualized dividend and a dividend yield of 0.90%. Wheaton Precious Metals’s dividend payout ratio is presently 49.21%.

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.