Desjardins Analysts Decrease Earnings Estimates for Wheaton Precious Metals Corp (WPM)

Wheaton Precious Metals Corp (NYSE:WPM) – Analysts at Desjardins cut their Q3 2019 earnings per share (EPS) estimates for shares of Wheaton Precious Metals in a research note issued on Friday, April 12th. Desjardins analyst J. Wolfson now expects that the company will post earnings of $0.14 per share for the quarter, down from their prior forecast of $0.15. Desjardins also issued estimates for Wheaton Precious Metals’ FY2019 earnings at $0.53 EPS, Q3 2020 earnings at $0.15 EPS and FY2020 earnings at $0.60 EPS.

A number of other equities analysts also recently commented on the company. Deutsche Bank reiterated a “buy” rating and issued a $26.00 price target (up from $25.00) on shares of Wheaton Precious Metals in a research note on Wednesday, April 10th. Barclays downgraded Wheaton Precious Metals from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, April 9th. Standpoint Research downgraded Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Friday, March 29th. TD Securities lifted their target price on Wheaton Precious Metals from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, March 26th. Finally, Raymond James set a $28.00 target price on Wheaton Precious Metals and gave the company a “buy” rating in a research note on Thursday, March 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $32.00.

NYSE:WPM opened at $23.36 on Monday. The stock has a market capitalization of $10.26 billion and a P/E ratio of 48.67. Wheaton Precious Metals has a one year low of $15.08 and a one year high of $25.24. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.76 and a quick ratio of 2.76.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Wednesday, March 20th. The company reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.03. The business had revenue of $196.59 million during the quarter, compared to the consensus estimate of $191.71 million. Wheaton Precious Metals had a return on equity of 4.18% and a net margin of 53.79%. The company’s revenue for the quarter was down 18.9% compared to the same quarter last year. During the same period last year, the firm earned $0.19 earnings per share.

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Friday, April 5th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.36 dividend on an annualized basis and a yield of 1.54%. Wheaton Precious Metals’s payout ratio is currently 75.00%.

A number of hedge funds have recently modified their holdings of the business. Cerebellum GP LLC boosted its stake in Wheaton Precious Metals by 5.3% in the fourth quarter. Cerebellum GP LLC now owns 11,380 shares of the company’s stock valued at $222,000 after acquiring an additional 575 shares during the period. Usca Ria LLC boosted its position in shares of Wheaton Precious Metals by 3.1% during the fourth quarter. Usca Ria LLC now owns 19,978 shares of the company’s stock worth $390,000 after buying an additional 601 shares during the period. CIBC Private Wealth Group LLC boosted its position in shares of Wheaton Precious Metals by 6.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 12,809 shares of the company’s stock worth $250,000 after buying an additional 809 shares during the period. Gluskin Sheff & Assoc Inc. boosted its position in shares of Wheaton Precious Metals by 1.1% during the fourth quarter. Gluskin Sheff & Assoc Inc. now owns 95,820 shares of the company’s stock worth $1,870,000 after buying an additional 1,010 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of Wheaton Precious Metals by 5.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 22,221 shares of the company’s stock worth $434,000 after buying an additional 1,170 shares during the period. Institutional investors own 55.48% of the company’s stock.

About Wheaton Precious Metals

Wheaton Precious Metals Corp. operates as a silver and gold streaming company in Canada and internationally. It has streaming agreements for 20 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.

Further Reading: Special Dividends

Earnings History and Estimates for Wheaton Precious Metals (NYSE:WPM)

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