Wheaton Precious Metals (NYSE:WPM) Issues Quarterly Earnings Results

Wheaton Precious Metals (NYSE:WPM) announced its quarterly earnings results on Friday. The company reported $0.34 EPS for the quarter, meeting the consensus estimate of $0.34, Zacks reports. The company had revenue of $308.25 million for the quarter, compared to analyst estimates of $324.57 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.91%. During the same period in the prior year, the firm posted $0.27 earnings per share.

Wheaton Precious Metals Stock Performance

Wheaton Precious Metals stock traded down $3.80 during midday trading on Monday, reaching $61.02. The company’s stock had a trading volume of 2,405,889 shares, compared to its average volume of 1,778,033. Wheaton Precious Metals has a fifty-two week low of $38.57 and a fifty-two week high of $68.64. The stock’s 50 day simple moving average is $62.77 and its 200 day simple moving average is $58.71. The firm has a market capitalization of $27.68 billion, a PE ratio of 45.54, a P/E/G ratio of 2.37 and a beta of 0.77.

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 21st will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Thursday, November 21st. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 46.27%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Raymond James raised their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Stifel Canada lowered shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Scotiabank raised their target price on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. TD Securities raised their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Jefferies Financial Group raised their target price on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Wheaton Precious Metals presently has a consensus rating of “Moderate Buy” and an average price target of $70.88.

About Wheaton Precious Metals

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.