Raymond James Has Bearish Outlook for WPM FY2024 Earnings

Wheaton Precious Metals Corp. (NYSE:WPM) – Research analysts at Raymond James lowered their FY2024 EPS estimates for shares of Wheaton Precious Metals in a report released on Wednesday, February 19th. Raymond James analyst B. Macarthur now expects that the company will post earnings per share of $1.39 for the year, down from their prior forecast of $1.43. Raymond James currently has a “Outperform” rating and a $75.00 price target on the stock. The consensus estimate for Wheaton Precious Metals’ current full-year earnings is $1.46 per share. Raymond James also issued estimates for Wheaton Precious Metals’ Q4 2024 earnings at $0.42 EPS, Q1 2025 earnings at $0.44 EPS, Q3 2025 earnings at $0.47 EPS and FY2025 earnings at $1.81 EPS.

Several other equities research analysts have also recently commented on WPM. TD Securities upped their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Stifel Canada raised shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Finally, UBS Group began coverage on shares of Wheaton Precious Metals in a research note on Monday, November 18th. They set a “buy” rating and a $78.00 price target on the stock. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $71.67.

Wheaton Precious Metals Stock Up 0.7 %

Shares of WPM stock opened at $69.90 on Friday. Wheaton Precious Metals has a 52-week low of $38.57 and a 52-week high of $70.31. The stock’s 50-day moving average price is $60.74 and its 200 day moving average price is $61.38. The stock has a market capitalization of $31.71 billion, a PE ratio of 52.16, a price-to-earnings-growth ratio of 1.91 and a beta of 0.77.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc acquired a new position in shares of Wheaton Precious Metals in the fourth quarter worth $29,000. Promus Capital LLC acquired a new stake in Wheaton Precious Metals during the fourth quarter worth approximately $32,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Wheaton Precious Metals in the 4th quarter valued at $38,000. Laurel Wealth Advisors LLC purchased a new position in shares of Wheaton Precious Metals during the 4th quarter worth $39,000. Finally, Quintet Private Bank Europe S.A. purchased a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at $39,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.

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.