Wheaton Precious Metals Corp (WPM) Expected to Post Earnings of $0.09 Per Share

Wall Street brokerages forecast that Wheaton Precious Metals Corp (NYSE:WPM) will announce earnings of $0.09 per share for the current quarter, Zacks reports. Eight analysts have provided estimates for Wheaton Precious Metals’ earnings. The lowest EPS estimate is $0.08 and the highest is $0.11. Wheaton Precious Metals posted earnings per share of $0.19 during the same quarter last year, which would suggest a negative year-over-year growth rate of 52.6%. The firm is scheduled to report its next quarterly earnings report on Wednesday, March 20th.

According to Zacks, analysts expect that Wheaton Precious Metals will report full-year earnings of $0.51 per share for the current fiscal year, with EPS estimates ranging from $0.47 to $0.54. For the next year, analysts forecast that the company will report earnings of $0.53 per share, with EPS estimates ranging from $0.37 to $0.65. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that that provide coverage for Wheaton Precious Metals.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Wednesday, November 14th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.02). Wheaton Precious Metals had a net margin of 33.64% and a return on equity of 5.14%. The company had revenue of $185.77 million for the quarter, compared to analyst estimates of $191.11 million. During the same quarter last year, the business earned $0.15 EPS. The company’s revenue for the quarter was down 8.5% on a year-over-year basis.

Several brokerages have recently issued reports on WPM. ValuEngine downgraded shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Monday, August 13th. Raymond James raised their price objective on shares of Wheaton Precious Metals from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Friday, September 28th. Barclays began coverage on shares of Wheaton Precious Metals in a research note on Wednesday, October 10th. They issued an “overweight” rating on the stock. Deutsche Bank set a $25.00 price objective on shares of Wheaton Precious Metals and gave the stock a “buy” rating in a research note on Tuesday, October 2nd. Finally, TheStreet downgraded shares of Wheaton Precious Metals from a “b-” rating to a “c+” rating in a research note on Monday, November 12th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $25.60.

WPM stock traded up $0.24 during midday trading on Friday, hitting $16.44. 49,555 shares of the company traded hands, compared to its average volume of 2,407,318. The company has a market cap of $7.15 billion, a PE ratio of 26.10, a price-to-earnings-growth ratio of 6.31 and a beta of 0.41. The company has a quick ratio of 8.04, a current ratio of 8.04 and a debt-to-equity ratio of 0.27. Wheaton Precious Metals has a twelve month low of $15.08 and a twelve month high of $22.86.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Friday, November 30th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.36 annualized dividend and a dividend yield of 2.19%. Wheaton Precious Metals’s payout ratio is 57.14%.

A number of hedge funds have recently modified their holdings of the stock. Marshall Wace North America L.P. bought a new position in Wheaton Precious Metals in the third quarter worth $5,923,000. Marshall Wace LLP bought a new position in Wheaton Precious Metals in the third quarter worth $1,091,000. Vanguard Group Inc. lifted its position in Wheaton Precious Metals by 2.5% in the third quarter. Vanguard Group Inc. now owns 12,125,064 shares of the company’s stock worth $212,188,000 after purchasing an additional 299,591 shares during the period. Morgan Stanley lifted its position in Wheaton Precious Metals by 6.4% in the third quarter. Morgan Stanley now owns 1,771,308 shares of the company’s stock worth $30,998,000 after purchasing an additional 106,661 shares during the period. Finally, Nordea Investment Management AB bought a new position in Wheaton Precious Metals in the third quarter worth $424,000. 54.21% of the stock is owned by hedge funds and other institutional investors.

About Wheaton Precious Metals

Wheaton Precious Metals Corp. operates as a silver and gold streaming company in Canada and internationally. It has streaming agreements for 20 operating mines and 9 development stage projects. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp.

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Earnings History and Estimates for Wheaton Precious Metals (NYSE:WPM)

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