Wheaton Precious Metals Corp (NYSE:WPM) – Stock analysts at Raymond James decreased their Q3 2019 earnings estimates for Wheaton Precious Metals in a research report issued to clients and investors on Monday, August 12th. Raymond James analyst B. Macarthur now anticipates that the company will post earnings per share of $0.15 for the quarter, down from their previous estimate of $0.16. Raymond James currently has a “Outperform” rating and a $29.00 target price on the stock. Raymond James also issued estimates for Wheaton Precious Metals’ Q4 2019 earnings at $0.15 EPS, FY2019 earnings at $0.53 EPS, Q2 2020 earnings at $0.17 EPS, Q4 2020 earnings at $0.16 EPS and FY2020 earnings at $0.66 EPS.
Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.10 EPS for the quarter, hitting analysts’ consensus estimates of $0.10. The business had revenue of $189.47 million during the quarter, compared to analysts’ expectations of $194.90 million. Wheaton Precious Metals had a negative net margin of 3.33% and a positive return on equity of 3.33%. The business’s quarterly revenue was down 10.8% on a year-over-year basis. During the same period last year, the company posted $0.16 earnings per share.
Other research analysts have also recently issued reports about the stock. Canaccord Genuity reiterated a “buy” rating on shares of Wheaton Precious Metals in a report on Friday, July 19th. TheStreet cut shares of Wheaton Precious Metals from a “b” rating to a “c+” rating in a report on Friday, August 9th. Barclays upgraded shares of Wheaton Precious Metals from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $23.00 to $28.00 in a report on Tuesday, July 16th. They noted that the move was a valuation call. Deutsche Bank set a $27.00 price objective on shares of Wheaton Precious Metals and gave the company a “buy” rating in a report on Thursday, July 11th. Finally, GMP Securities cut shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $31.78.
NYSE:WPM opened at $26.66 on Wednesday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $12.09 billion, a price-to-earnings ratio of 55.54, a PEG ratio of 10.24 and a beta of -0.01. The firm has a fifty day simple moving average of $25.70 and a two-hundred day simple moving average of $23.05. Wheaton Precious Metals has a 12 month low of $15.08 and a 12 month high of $28.19.
Several hedge funds and other institutional investors have recently modified their holdings of WPM. Voloridge Investment Management LLC bought a new stake in shares of Wheaton Precious Metals in the second quarter valued at approximately $2,650,000. Jefferies Group LLC bought a new stake in shares of Wheaton Precious Metals in the second quarter valued at approximately $1,002,000. Bank of America Corp DE raised its position in shares of Wheaton Precious Metals by 12.3% in the second quarter. Bank of America Corp DE now owns 1,327,280 shares of the company’s stock valued at $32,094,000 after purchasing an additional 145,145 shares during the period. Assetmark Inc. raised its position in shares of Wheaton Precious Metals by 135.8% in the second quarter. Assetmark Inc. now owns 2,014 shares of the company’s stock valued at $49,000 after purchasing an additional 1,160 shares during the period. Finally, Invesco Ltd. raised its position in shares of Wheaton Precious Metals by 123.9% in the second quarter. Invesco Ltd. now owns 5,137,109 shares of the company’s stock valued at $124,216,000 after purchasing an additional 2,842,321 shares during the period. Hedge funds and other institutional investors own 55.24% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 23rd will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Thursday, August 22nd. Wheaton Precious Metals’s dividend payout ratio is currently 75.00%.
About Wheaton Precious Metals
Wheaton Precious Metals Corp., a mining company, primarily sells precious metals in Canada and internationally. The company sells silver and gold ores. It has agreements for 19 operating mines and 9 development stage projects. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp.
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