Wheaton Precious Metals (NYSE:WPM) Announces Earnings Results

Wheaton Precious Metals (NYSE:WPM) released its earnings results on Wednesday. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04, Briefing.com reports. Wheaton Precious Metals had a net margin of 53.74% and a return on equity of 8.53%. The company had revenue of $299.06 million for the quarter, compared to analysts’ expectations of $309.54 million. During the same quarter last year, the business earned $0.31 EPS. The firm’s revenue was up 12.9% compared to the same quarter last year.

Wheaton Precious Metals Stock Performance

NYSE WPM traded up $1.46 on Friday, hitting $55.83. 960,709 shares of the stock were exchanged, compared to its average volume of 1,843,361. Wheaton Precious Metals has a 52-week low of $38.37 and a 52-week high of $63.06. The firm has a market capitalization of $25.33 billion, a P/E ratio of 42.95, a P/E/G ratio of 2.06 and a beta of 0.76. The stock has a fifty day moving average price of $55.89 and a two-hundred day moving average price of $51.31.

Wheaton Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st will be issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $0.62 annualized dividend and a yield of 1.11%. Wheaton Precious Metals’s payout ratio is presently 47.69%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Berenberg Bank upped their price objective on Wheaton Precious Metals from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. CIBC increased their price objective on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. BMO Capital Markets boosted their target price on shares of Wheaton Precious Metals from $59.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Bank of America raised their target price on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Finally, Jefferies Financial Group boosted their price target on shares of Wheaton Precious Metals from $62.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Wheaton Precious Metals has a consensus rating of “Moderate Buy” and a consensus price target of $65.00.

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.