Wheaton Precious Metals Corp. Expected to Earn Q3 2021 Earnings of $0.42 Per Share (NYSE:WPM)

Wheaton Precious Metals Corp. (NYSE:WPM) – Research analysts at Raymond James decreased their Q3 2021 earnings per share estimates for shares of Wheaton Precious Metals in a note issued to investors on Tuesday, June 8th. Raymond James analyst B. Macarthur now forecasts that the company will post earnings per share of $0.42 for the quarter, down from their prior estimate of $0.44. Raymond James currently has a “Outperform” rating and a $60.00 target price on the stock. Raymond James also issued estimates for Wheaton Precious Metals’ Q4 2021 earnings at $0.42 EPS, FY2021 earnings at $1.59 EPS and Q1 2022 earnings at $0.39 EPS.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Thursday, May 6th. The company reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. Wheaton Precious Metals had a return on equity of 9.95% and a net margin of 49.33%. The firm had revenue of $324.12 million during the quarter, compared to analyst estimates of $335.94 million. During the same period last year, the firm posted $0.22 EPS. The business’s revenue was up 27.2% compared to the same quarter last year.

Several other equities research analysts have also weighed in on the company. BMO Capital Markets raised Wheaton Precious Metals from a “market perform” rating to an “outperform” rating and set a $57.00 price objective for the company in a report on Monday, March 15th. Berenberg Bank reissued a “buy” rating on shares of Wheaton Precious Metals in a report on Wednesday, April 7th. TD Securities reissued a “buy” rating and issued a $76.00 price objective (up previously from $60.00) on shares of Wheaton Precious Metals in a report on Tuesday, March 16th. Canaccord Genuity reissued a “buy” rating and issued a $82.00 price objective on shares of Wheaton Precious Metals in a report on Thursday, March 18th. Finally, Royal Bank of Canada raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and set a $51.00 price objective for the company in a report on Monday, March 8th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $56.83.

Shares of Wheaton Precious Metals stock opened at $48.92 on Friday. Wheaton Precious Metals has a 1 year low of $34.85 and a 1 year high of $57.89. The stock has a market cap of $22.02 billion, a price-to-earnings ratio of 38.22, a PEG ratio of 6.29 and a beta of 0.36. The company’s fifty day simple moving average is $44.41.

The business also recently announced a quarterly dividend, which was paid on Thursday, June 3rd. Shareholders of record on Friday, May 21st were paid a $0.14 dividend. The ex-dividend date was Thursday, May 20th. This represents a $0.56 annualized dividend and a yield of 1.14%. This is an increase from Wheaton Precious Metals’s previous quarterly dividend of $0.13. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 19.64%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Childress Capital Advisors LLC bought a new stake in shares of Wheaton Precious Metals during the 4th quarter valued at about $26,000. Allworth Financial LP boosted its position in shares of Wheaton Precious Metals by 59.6% during the 1st quarter. Allworth Financial LP now owns 723 shares of the company’s stock valued at $28,000 after acquiring an additional 270 shares during the last quarter. Wagner Wealth Management LLC bought a new stake in shares of Wheaton Precious Metals during the 1st quarter valued at about $31,000. Tradewinds Capital Management LLC boosted its position in shares of Wheaton Precious Metals by 84.2% during the 1st quarter. Tradewinds Capital Management LLC now owns 884 shares of the company’s stock valued at $34,000 after acquiring an additional 404 shares during the last quarter. Finally, Ameritas Investment Company LLC bought a new stake in shares of Wheaton Precious Metals during the 1st quarter valued at about $35,000. Institutional investors and hedge funds own 55.78% of the company’s stock.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp., a mining company, primarily sells precious metals in Canada and internationally. The company sells gold, silver, palladium, and cobalt deposits. It has agreements for 24 operating mining assets and 7 development stage projects. The company was formerly known as Silver Wheaton Corp.

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

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