Wheaton Precious Metals (NYSE:WPM) Posts Earnings Results, Beats Expectations By $0.07 EPS

Wheaton Precious Metals (NYSE:WPM) issued its quarterly earnings data on Thursday. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07, Briefing.com reports. Wheaton Precious Metals had a net margin of 52.92% and a return on equity of 7.76%. The business had revenue of $296.80 million for the quarter, compared to analyst estimates of $278.95 million. During the same period last year, the business posted $0.23 earnings per share. The firm’s quarterly revenue was up 38.7% on a year-over-year basis.

Wheaton Precious Metals Trading Down 2.0 %

WPM traded down $1.09 during trading on Friday, reaching $54.69. 1,319,806 shares of the company’s stock were exchanged, compared to its average volume of 2,075,403. Wheaton Precious Metals has a one year low of $38.37 and a one year high of $57.33. The stock has a market capitalization of $24.79 billion, a PE ratio of 46.87, a price-to-earnings-growth ratio of 7.13 and a beta of 0.75. The firm has a fifty day moving average price of $49.00 and a two-hundred day moving average price of $47.13.

Wheaton Precious Metals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Wednesday, April 3rd were issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 1.13%. This is a positive change from Wheaton Precious Metals’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, April 2nd. Wheaton Precious Metals’s payout ratio is presently 52.10%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on WPM. TD Securities upgraded shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating and lifted their price target for the company from $51.00 to $53.00 in a research note on Monday, March 18th. Raymond James decreased their price objective on shares of Wheaton Precious Metals from $60.00 to $58.00 and set a “market perform” rating for the company in a research report on Thursday, February 22nd. Jefferies Financial Group lifted their price objective on shares of Wheaton Precious Metals from $52.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. National Bank Financial downgraded shares of Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, February 21st. Finally, Berenberg Bank lifted their price objective on shares of Wheaton Precious Metals from $52.00 to $54.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and an average target price of $57.25.

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.