Wheaton Precious Metals Corp. Expected to Earn Q2 2023 Earnings of $0.30 Per Share (NYSE:WPM)

Wheaton Precious Metals Corp. (NYSE:WPM – Get Rating) – Equities researchers at Edison Inv. Res raised their Q2 2023 earnings per share estimates for Wheaton Precious Metals in a report released on Tuesday, March 14th. Edison Inv. Res analyst C. Gibson now forecasts that the company will post earnings per share of $0.30 for the quarter, up from their prior estimate of $0.27. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.16 per share. Edison Inv. Res also issued estimates for Wheaton Precious Metals’ Q3 2023 earnings at $0.30 EPS and Q4 2023 earnings at $0.31 EPS.

Wheaton Precious Metals (NYSE:WPM – Get Rating) last posted its quarterly earnings results on Friday, March 10th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Wheaton Precious Metals had a net margin of 62.83% and a return on equity of 7.76%. The business had revenue of $236.05 million during the quarter, compared to analyst estimates of $241.70 million. During the same quarter in the prior year, the business earned $0.29 earnings per share. The firm’s quarterly revenue was down 15.1% on a year-over-year basis.

A number of other equities research analysts have also weighed in on WPM. TheStreet raised Wheaton Precious Metals from a “c+” rating to a “b-” rating in a report on Tuesday, November 22nd. BMO Capital Markets cut their price objective on Wheaton Precious Metals from $52.00 to $51.00 and set an “outperform” rating for the company in a research report on Friday, March 10th. Barclays boosted their price target on Wheaton Precious Metals from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Monday, January 30th. Raymond James cut their price target on Wheaton Precious Metals from C$52.00 to C$51.00 and set an “outperform” rating for the company in a report on Wednesday, February 22nd. Finally, TD Securities dropped their price objective on Wheaton Precious Metals from $55.00 to $54.00 and set a “buy” rating for the company in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Wheaton Precious Metals has a consensus rating of “Moderate Buy” and a consensus target price of $54.38.

Wheaton Precious Metals Stock Performance

WPM opened at $45.30 on Friday. Wheaton Precious Metals has a one year low of $28.62 and a one year high of $51.90. The business’s 50-day simple moving average is $43.18 and its 200-day simple moving average is $38.04. The stock has a market capitalization of $20.49 billion, a P/E ratio of 30.61, a price-to-earnings-growth ratio of 7.61 and a beta of 0.55.

Wheaton Precious Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 6th. Stockholders of record on Friday, March 24th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend is Thursday, March 23rd. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 40.54%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. SeaCrest Wealth Management LLC bought a new stake in Wheaton Precious Metals during the second quarter worth approximately $26,000. Financial Management Professionals Inc. lifted its position in Wheaton Precious Metals by 710.4% in the 3rd quarter. Financial Management Professionals Inc. now owns 859 shares of the company’s stock worth $28,000 after buying an additional 753 shares in the last quarter. Atlas Capital Advisors LLC purchased a new stake in Wheaton Precious Metals in the 4th quarter worth approximately $29,000. Glass Jacobson Investment Advisors llc purchased a new stake in Wheaton Precious Metals in the 4th quarter worth approximately $30,000. Finally, Hexagon Capital Partners LLC raised its holdings in shares of Wheaton Precious Metals by 63.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 964 shares of the company’s stock valued at $31,000 after purchasing an additional 376 shares in the last quarter. 57.01% of the stock is currently owned by institutional investors.

Wheaton Precious Metals Company Profile

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Wheaton Precious Metals Corp. is a mining company engages in the sale of precious metals and cobalt production. It operates through the following business segments: Gold, Silver, Palladium, Cobalt, and Other. The company was founded by Peter Derek Barnes on December 17, 2004 and is headquartered in Vancouver, Canada.