Wheaton Precious Metals Corp. (NYSE:WPM) Expected to Post Quarterly Sales of $320.36 Million
Equities research analysts forecast that Wheaton Precious Metals Corp. (NYSE:WPM – Get Rating) will post sales of $320.36 million for the current quarter, Zacks Investment Research reports. Eleven analysts have made estimates for Wheaton Precious Metals’ earnings. The highest sales estimate is $369.40 million and the lowest is $283.62 million. Wheaton Precious Metals reported sales of $330.39 million in the same quarter last year, which indicates a negative year over year growth rate of 3%. The business is expected to report its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Wheaton Precious Metals will report full-year sales of $1.29 billion for the current financial year, with estimates ranging from $1.18 billion to $1.43 billion. For the next financial year, analysts anticipate that the business will post sales of $1.37 billion, with estimates ranging from $1.23 billion to $1.56 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Wheaton Precious Metals.
Wheaton Precious Metals (NYSE:WPM – Get Rating) last issued its earnings results on Thursday, May 5th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The business had revenue of $307.24 million for the quarter, compared to the consensus estimate of $313.27 million. Wheaton Precious Metals had a net margin of 63.33% and a return on equity of 9.60%. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.36 EPS.
A number of research firms have recently issued reports on WPM. KeyCorp raised their price target on shares of Wheaton Precious Metals from $46.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 19th. National Bank Financial boosted their price target on shares of Wheaton Precious Metals from C$68.00 to C$75.00 in a research report on Wednesday, April 20th. StockNews.com assumed coverage on shares of Wheaton Precious Metals in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Barclays lifted their price objective on shares of Wheaton Precious Metals from $45.00 to $49.00 in a research note on Thursday, April 21st. Finally, Raymond James set a $61.00 target price on shares of Wheaton Precious Metals and gave the stock an “outperform” rating in a research report on Friday, May 6th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $58.14.
Shares of WPM stock opened at $42.44 on Friday. The firm has a market cap of $19.15 billion, a P/E ratio of 25.41, a P/E/G ratio of 5.68 and a beta of 0.50. Wheaton Precious Metals has a 1-year low of $36.39 and a 1-year high of $51.90. The firm has a fifty day moving average of $45.98 and a two-hundred day moving average of $43.71.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 3rd. Stockholders of record on Friday, May 20th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Thursday, May 19th. Wheaton Precious Metals’s payout ratio is 35.93%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Wheaton Precious Metals in the 4th quarter valued at approximately $82,078,000. BlackRock Inc. grew its stake in shares of Wheaton Precious Metals by 245.5% during the 1st quarter. BlackRock Inc. now owns 2,530,486 shares of the company’s stock worth $120,401,000 after acquiring an additional 1,798,086 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Wheaton Precious Metals by 6.4% during the 4th quarter. Van ECK Associates Corp now owns 22,488,298 shares of the company’s stock worth $965,425,000 after acquiring an additional 1,347,227 shares in the last quarter. Ruffer LLP grew its stake in shares of Wheaton Precious Metals by 29.5% during the 4th quarter. Ruffer LLP now owns 5,625,487 shares of the company’s stock worth $237,137,000 after acquiring an additional 1,282,970 shares in the last quarter. Finally, Natixis Investment Managers International acquired a new stake in shares of Wheaton Precious Metals in the 3rd quarter valued at approximately $41,423,000. Institutional investors and hedge funds own 67.90% of the company’s stock.
Wheaton Precious Metals Company Profile (Get Rating)
Wheaton Precious Metals Corp., a streaming company, primarily sells precious metals in Canada and internationally. The company sells gold, silver, palladium, and cobalt deposits. It has a portfolio of interests in the 23 operating mines and 13 development projects. The company was formerly known as Silver Wheaton Corp.
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