Wheaton Precious Metals (NYSE:WPM) Releases Earnings Results, Beats Expectations By $0.05 EPS
Wheaton Precious Metals (NYSE:WPM) reported earnings of $0.55 per share, exceeding estimates by $0.05, with revenue of $470.41 million, surpassing expectations of $446.33 million. The company experienced a 58.4% year-over-year revenue increase and a net margin of 50.05%. Additionally, Wheaton announced a quarterly dividend of $0.165, with a yield of 0.77%. Analysts have raised their price targets for the stock, with a consensus rating of "Buy" and an average target of $85.90.
Wheaton Precious Metals (NYSE:WPM - Get Free Report) issued its quarterly earnings results on Thursday. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.05, Zacks reports. The company had revenue of $470.41 million during the quarter, compared to analyst estimates of $446.33 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. Wheaton Precious Metals's quarterly revenue was up 58.4% compared to the same quarter last year. During the same period last year, the business earned $0.36 EPS.
Wheaton Precious Metals Price Performance
- 3 Metal Stocks with Double-Digit Upside
Wheaton Precious Metals stock traded up $3.30 during mid-day trading on Friday, reaching $85.76. 2,631,359 shares of the stock traded hands, compared to its average volume of 1,662,990. The stock has a market capitalization of $38.92 billion, a PE ratio of 64.00, a price-to-earnings-growth ratio of 1.91 and a beta of 0.49. The business's 50-day moving average is $77.91 and its 200-day moving average is $67.73. Wheaton Precious Metals has a 12-month low of $51.96 and a 12-month high of $87.42.
Wheaton Precious Metals Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th will be issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Wednesday, May 28th. Wheaton Precious Metals's payout ratio is currently 56.90%.
Wall Street Analyst Weigh In
- Is silver more precious in 2024 as gold loses luster?
Several research firms have recently issued reports on WPM. CIBC lifted their target price on shares of Wheaton Precious Metals from $95.00 to $105.00 and gave the company an "outperformer" rating in a report on Friday. Scotiabank lifted their price objective on Wheaton Precious Metals from $79.00 to $87.00 and gave the company a "sector outperform" rating in a research note on Monday, April 14th. UBS Group increased their target price on Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. BMO Capital Markets initiated coverage on Wheaton Precious Metals in a research report on Wednesday, April 16th. They issued an "outperform" rating and a $129.00 price target for the company. Finally, Raymond James upped their price target on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 15th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Wheaton Precious Metals currently has a consensus rating of "Buy" and an average price target of $85.90.
View Our Latest Report on Wheaton Precious Metals
About Wheaton Precious Metals
(Get Free Report)- Analysts Recommend These Mining Stocks Before Metal Prices Rally
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.
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