Brokerages expect Wheaton Precious Metals Corp (NYSE:WPM) to report $216.49 million in sales for the current quarter, Zacks Investment Research reports. Eleven analysts have made estimates for Wheaton Precious Metals’ earnings, with the lowest sales estimate coming in at $193.30 million and the highest estimate coming in at $240.32 million. Wheaton Precious Metals posted sales of $185.77 million in the same quarter last year, which suggests a positive year over year growth rate of 16.5%. The business is scheduled to report its next earnings report on Wednesday, November 13th.
On average, analysts expect that Wheaton Precious Metals will report full year sales of $859.31 million for the current fiscal year, with estimates ranging from $817.60 million to $915.69 million. For the next fiscal year, analysts expect that the business will post sales of $954.84 million, with estimates ranging from $828.00 million to $1.20 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Wheaton Precious Metals.
Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.10 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.10. Wheaton Precious Metals had a positive return on equity of 3.35% and a negative net margin of 3.33%. The business had revenue of $189.47 million for the quarter, compared to analysts’ expectations of $194.90 million. During the same quarter in the previous year, the firm posted $0.16 earnings per share. The company’s revenue was down 10.8% compared to the same quarter last year.
WPM has been the topic of several recent analyst reports. Raymond James reiterated an “outperform” rating and issued a $29.00 price target on shares of Wheaton Precious Metals in a research note on Monday, August 12th. Zacks Investment Research upgraded Wheaton Precious Metals from a “sell” rating to a “hold” rating in a research note on Friday, July 5th. Deutsche Bank set a $27.00 price target on Wheaton Precious Metals and gave the stock a “buy” rating in a research note on Thursday, July 11th. Barclays upgraded Wheaton Precious Metals from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $23.00 to $28.00 in a research note on Tuesday, July 16th. They noted that the move was a valuation call. Finally, GMP Securities cut Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $31.78.
Several institutional investors have recently made changes to their positions in WPM. Vanguard Group Inc. grew its holdings in Wheaton Precious Metals by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 13,210,823 shares of the company’s stock worth $319,438,000 after buying an additional 359,679 shares in the last quarter. FIL Ltd grew its holdings in Wheaton Precious Metals by 67.0% in the 1st quarter. FIL Ltd now owns 7,726,743 shares of the company’s stock worth $183,924,000 after buying an additional 3,100,285 shares in the last quarter. Invesco Ltd. grew its holdings in Wheaton Precious Metals by 123.9% in the 2nd quarter. Invesco Ltd. now owns 5,137,109 shares of the company’s stock worth $124,216,000 after buying an additional 2,842,321 shares in the last quarter. Swiss National Bank grew its holdings in Wheaton Precious Metals by 0.4% in the 2nd quarter. Swiss National Bank now owns 3,507,900 shares of the company’s stock worth $84,828,000 after buying an additional 13,100 shares in the last quarter. Finally, FMR LLC grew its holdings in Wheaton Precious Metals by 8.2% in the 1st quarter. FMR LLC now owns 3,252,268 shares of the company’s stock worth $77,415,000 after buying an additional 247,638 shares in the last quarter. Institutional investors and hedge funds own 54.04% of the company’s stock.
Shares of NYSE:WPM traded down $0.93 during trading on Tuesday, hitting $26.71. The company’s stock had a trading volume of 3,933,358 shares, compared to its average volume of 2,532,483. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.65 and a current ratio of 3.65. Wheaton Precious Metals has a fifty-two week low of $15.08 and a fifty-two week high of $30.90. The stock’s 50-day moving average price is $27.81 and its two-hundred day moving average price is $23.98. The company has a market capitalization of $12.16 billion, a PE ratio of 55.65, a PEG ratio of 10.41 and a beta of -0.03.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Friday, August 23rd were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.35%. The ex-dividend date was Thursday, August 22nd. Wheaton Precious Metals’s payout ratio is currently 75.00%.
About Wheaton Precious Metals
Wheaton Precious Metals Corp., a mining company, primarily sells precious metals in Canada and internationally. The company sells silver and gold ores. It has agreements for 19 operating mines and 9 development stage projects. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp.
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