Wheaton Precious Metals Corp. Forecasted to Post Q1 2024 Earnings of $0.45 Per Share (TSE:WPM)

Wheaton Precious Metals Corp. (TSE:WPM) – Stock analysts at Raymond James raised their Q1 2024 earnings per share (EPS) estimates for shares of Wheaton Precious Metals in a note issued to investors on Monday, April 22nd. Raymond James analyst B. Macarthur now forecasts that the company will post earnings per share of $0.45 for the quarter, up from their prior forecast of $0.43. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.55 per share.

Wheaton Precious Metals (TSE:WPM) last announced its quarterly earnings results on Thursday, March 14th. The company reported C$0.49 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.42 by C$0.07. The business had revenue of C$426.80 million for the quarter, compared to analysts’ expectations of C$381.95 million. Wheaton Precious Metals had a return on equity of 7.85% and a net margin of 52.92%.

WPM has been the topic of a number of other reports. National Bank Financial cut Wheaton Precious Metals from an “outperform market weight” rating to a “sector perform overweight” rating in a research report on Wednesday, February 21st. National Bankshares cut Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from C$75.00 to C$68.00 in a research report on Friday, February 23rd. Canaccord Genuity Group raised their target price on Wheaton Precious Metals from C$80.00 to C$90.00 in a research report on Tuesday. Veritas Investment Research raised their target price on Wheaton Precious Metals from C$67.00 to C$84.00 in a research report on Friday, April 12th. Finally, Stifel Nicolaus raised their target price on Wheaton Precious Metals from C$72.00 to C$80.00 and gave the company a “buy” rating in a research report on Friday, April 19th.

Wheaton Precious Metals Price Performance

Shares of Wheaton Precious Metals stock opened at C$71.99 on Thursday. The business’s 50 day moving average is C$63.46. The firm has a market cap of C$32.62 billion, a PE ratio of 44.99 and a beta of 0.66. Wheaton Precious Metals has a twelve month low of C$52.15 and a twelve month high of C$74.72.

Insider Activity

In other news, Senior Officer Gary Duncan Brown sold 1,857 shares of Wheaton Precious Metals stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of C$58.96, for a total transaction of C$109,491.69. In other news, Senior Officer Patrick Eugene Drouin sold 18,640 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of C$62.02, for a total transaction of C$1,156,052.80. Also, Senior Officer Gary Duncan Brown sold 1,857 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of C$58.96, for a total value of C$109,491.69. In the last ninety days, insiders have sold 20,664 shares of company stock worth $1,272,782. 0.17% of the stock is owned by company insiders.

Wheaton Precious Metals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 15th were given a dividend of $0.21 per share. The ex-dividend date was Tuesday, April 2nd. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.15. This represents a $0.84 annualized dividend and a dividend yield of 1.17%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 52.50%.

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.