Wheaton Precious Metals (NYSE:WPM) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Wheaton Precious Metals (NYSE:WPM) released its quarterly earnings data on Thursday. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.07, Briefing.com reports. The business had revenue of $296.80 million for the quarter, compared to analysts’ expectations of $278.95 million. Wheaton Precious Metals had a return on equity of 7.76% and a net margin of 52.92%. The firm’s quarterly revenue was up 38.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.23 EPS.

Wheaton Precious Metals Stock Down 2.0 %

Shares of NYSE:WPM traded down $1.11 during midday trading on Friday, reaching $54.67. The company’s stock had a trading volume of 1,157,438 shares, compared to its average volume of 2,073,630. The firm has a market capitalization of $24.78 billion, a PE ratio of 46.87, a P/E/G ratio of 7.13 and a beta of 0.75. The stock has a fifty day moving average of $49.00 and a 200 day moving average of $47.13. Wheaton Precious Metals has a twelve month low of $38.37 and a twelve month high of $57.33.

Wheaton Precious Metals Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Wednesday, April 3rd were issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 1.13%. The ex-dividend date was Tuesday, April 2nd. This is an increase from Wheaton Precious Metals’s previous quarterly dividend of $0.15. Wheaton Precious Metals’s dividend payout ratio is 52.10%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group increased their price objective on shares of Wheaton Precious Metals from $52.00 to $61.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Scotiabank lowered their target price on Wheaton Precious Metals from $60.00 to $59.00 and set a “sector outperform” rating for the company in a research report on Wednesday, February 28th. BMO Capital Markets reduced their price objective on Wheaton Precious Metals from $61.00 to $59.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 21st. Berenberg Bank raised their price objective on Wheaton Precious Metals from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. Finally, National Bank Financial lowered Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a report on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.25.

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.