Wheaton Precious Metals Corp. (NYSE:WPM) to Post Q1 2022 Earnings of $0.37 Per Share, Raymond James Forecasts

Wheaton Precious Metals Corp. (NYSE:WPMGet Rating) – Stock analysts at Raymond James raised their Q1 2022 earnings estimates for shares of Wheaton Precious Metals in a research note issued on Tuesday, April 19th. Raymond James analyst B. Macarthur now expects that the company will earn $0.37 per share for the quarter, up from their prior estimate of $0.35. Raymond James has a “Outperform” rating and a $56.00 price objective on the stock. Raymond James also issued estimates for Wheaton Precious Metals’ Q2 2022 earnings at $0.36 EPS, Q3 2022 earnings at $0.38 EPS, Q4 2022 earnings at $0.38 EPS, FY2022 earnings at $1.48 EPS, Q1 2023 earnings at $0.36 EPS, Q2 2023 earnings at $0.35 EPS, Q3 2023 earnings at $0.37 EPS and Q4 2023 earnings at $0.38 EPS.

Wheaton Precious Metals (NYSE:WPMGet Rating) last released its quarterly earnings data on Thursday, March 10th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.02). The business had revenue of $278.20 million during the quarter, compared to the consensus estimate of $287.99 million. Wheaton Precious Metals had a net margin of 62.82% and a return on equity of 9.86%. The business’s revenue was down 2.8% compared to the same quarter last year. During the same period last year, the company posted $0.33 earnings per share.

Several other equities analysts have also recently weighed in on the company. KeyCorp increased their price target on Wheaton Precious Metals from $46.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday. Barclays increased their price target on Wheaton Precious Metals from $45.00 to $49.00 in a report on Thursday. National Bank Financial upped their price objective on Wheaton Precious Metals from C$68.00 to C$75.00 in a research note on Wednesday. Finally, StockNews.com assumed coverage on Wheaton Precious Metals in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $57.29.

NYSE WPM opened at $48.10 on Thursday. The business’s fifty day moving average price is $47.42 and its 200-day moving average price is $43.28. The stock has a market capitalization of $21.69 billion, a price-to-earnings ratio of 28.63, a PEG ratio of 7.25 and a beta of 0.48. Wheaton Precious Metals has a 1-year low of $36.39 and a 1-year high of $51.90.

A number of hedge funds have recently modified their holdings of WPM. Rational Advisors LLC grew its position in shares of Wheaton Precious Metals by 136.2% during the fourth quarter. Rational Advisors LLC now owns 574 shares of the company’s stock valued at $25,000 after purchasing an additional 331 shares in the last quarter. Selective Wealth Management Inc. purchased a new position in shares of Wheaton Precious Metals during the first quarter valued at about $33,000. Huntington National Bank grew its position in shares of Wheaton Precious Metals by 40.1% during the fourth quarter. Huntington National Bank now owns 873 shares of the company’s stock valued at $37,000 after purchasing an additional 250 shares in the last quarter. TFO TDC LLC purchased a new position in shares of Wheaton Precious Metals during the third quarter valued at about $38,000. Finally, First Horizon Advisors Inc. grew its position in shares of Wheaton Precious Metals by 9,490.9% during the third quarter. First Horizon Advisors Inc. now owns 1,055 shares of the company’s stock valued at $40,000 after purchasing an additional 1,044 shares in the last quarter. Institutional investors and hedge funds own 68.35% of the company’s stock.

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 7th. Shareholders of record on Thursday, March 24th were paid a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, March 23rd. This represents a $0.60 dividend on an annualized basis and a yield of 1.25%. Wheaton Precious Metals’s payout ratio is presently 35.71%.

Wheaton Precious Metals Company Profile (Get Rating)

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 23 operating mining assets and 10 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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