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

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

Wheaton Precious Metals Trading Down 2.0 %

Wheaton Precious Metals stock traded down $1.11 during mid-day trading on Friday, hitting $54.67. The company had a trading volume of 1,157,438 shares, compared to its average volume of 2,073,630. Wheaton Precious Metals has a 12 month low of $38.37 and a 12 month high of $57.33. The company has a market capitalization of $24.78 billion, a PE ratio of 46.87, a price-to-earnings-growth ratio of 7.13 and a beta of 0.75. The stock’s 50 day moving average price is $49.00 and its two-hundred day moving average price is $47.13.

Wheaton Precious Metals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Wednesday, April 3rd were paid a $0.155 dividend. The ex-dividend date was Tuesday, April 2nd. This represents a $0.62 annualized dividend and a dividend yield of 1.13%. This is an increase from Wheaton Precious Metals’s previous quarterly dividend of $0.15. Wheaton Precious Metals’s dividend payout ratio is presently 52.10%.

Analyst Upgrades and Downgrades

WPM has been the topic of several recent analyst reports. Scotiabank cut their target price on Wheaton Precious Metals from $60.00 to $59.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, February 28th. BMO Capital Markets decreased their target price on Wheaton Precious Metals from $61.00 to $59.00 and set an “outperform” rating for the company in a report on Wednesday, February 21st. Jefferies Financial Group lifted their price target on shares of Wheaton Precious Metals from $52.00 to $61.00 and gave the company a “buy” rating in a report on Monday, April 22nd. TD Securities upgraded shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating and upped their price objective for the stock from $51.00 to $53.00 in a report on Monday, March 18th. Finally, Raymond James reduced their price target on shares of Wheaton Precious Metals from $60.00 to $58.00 and set a “market perform” rating on the stock in a research report on Thursday, February 22nd. Four research 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.