Zacks Research Weighs in on Wheaton Precious Metals Corp.’s Q3 2024 Earnings (NYSE:WPM)

Wheaton Precious Metals Corp. (NYSE:WPM) – Analysts at Zacks Research increased their Q3 2024 earnings per share (EPS) estimates for shares of Wheaton Precious Metals in a research note issued to investors on Wednesday, October 9th. Zacks Research analyst M. Das now expects that the company will earn $0.36 per share for the quarter, up from their previous forecast of $0.34. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.43 per share. Zacks Research also issued estimates for Wheaton Precious Metals’ Q4 2024 earnings at $0.37 EPS, FY2024 earnings at $1.41 EPS, Q1 2025 earnings at $0.38 EPS, Q2 2025 earnings at $0.40 EPS, Q3 2025 earnings at $0.39 EPS, Q4 2025 earnings at $0.39 EPS, FY2025 earnings at $1.55 EPS, Q1 2026 earnings at $0.40 EPS, Q2 2026 earnings at $0.41 EPS, Q3 2026 earnings at $0.38 EPS and FY2026 earnings at $1.60 EPS.

WPM has been the topic of a number of other research reports. Jefferies Financial Group raised their target price 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 raised their target price on Wheaton Precious Metals from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. National Bank Financial raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Bank of America raised their price objective on shares of 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, Berenberg Bank upped their price target on shares of Wheaton Precious Metals from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $69.88.

Wheaton Precious Metals Stock Up 1.4 %

Wheaton Precious Metals stock opened at $61.76 on Monday. Wheaton Precious Metals has a 52-week low of $38.57 and a 52-week high of $64.82. The firm has a market cap of $28.02 billion, a PE ratio of 49.02, a price-to-earnings-growth ratio of 2.20 and a beta of 0.78. The company’s 50 day moving average is $60.50 and its two-hundred day moving average is $56.81.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Wednesday, August 7th. The company reported $0.33 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 business had revenue of $299.06 million during the quarter, compared to the consensus estimate of $309.54 million. During the same period in the previous year, the company posted $0.31 earnings per share. The firm’s revenue was up 12.9% on a year-over-year basis.

Wheaton Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend was Wednesday, August 21st. Wheaton Precious Metals’s payout ratio is 49.21%.

Institutional Investors Weigh In On Wheaton Precious Metals

Hedge funds have recently modified their holdings of the company. Ridgewood Investments LLC purchased a new position in Wheaton Precious Metals in the 2nd quarter valued at approximately $31,000. Abich Financial Wealth Management LLC purchased a new stake in shares of Wheaton Precious Metals during the 2nd quarter worth approximately $31,000. Sunbelt Securities Inc. acquired a new position in Wheaton Precious Metals during the second quarter worth about $47,000. St. Johns Investment Management Company LLC purchased a new position in Wheaton Precious Metals in the 1st quarter valued at about $52,000. Finally, Western Pacific Wealth Management LP raised its stake in Wheaton Precious Metals by 19.6% during the first 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 period. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Company Profile

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.