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

Wheaton Precious Metals (NYSE:WPM) issued its quarterly earnings data on Friday. The company reported $0.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.34, Zacks reports. The firm had revenue of $308.25 million during the quarter, compared to the consensus estimate 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 last year, the business posted $0.27 earnings per share.

Wheaton Precious Metals Stock Down 5.9 %

Shares of NYSE WPM traded down $3.80 during mid-day trading on Monday, reaching $61.02. 2,405,889 shares of the company were exchanged, compared to its average volume of 1,778,033. Wheaton Precious Metals has a 52 week low of $38.57 and a 52 week high of $68.64. The stock has a market capitalization of $27.68 billion, a PE ratio of 45.54, a PEG ratio of 2.37 and a beta of 0.77. The company’s 50 day moving average price is $62.77 and its 200 day moving average price is $58.71.

Wheaton Precious Metals Announces Dividend

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

Wall Street Analyst Weigh In

WPM has been the topic of a number of research reports. Raymond James boosted 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 note on Friday, October 25th. Jefferies Financial Group increased their price target on Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, October 4th. TD Securities increased their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Friday. National Bank Financial raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Finally, Stifel Canada cut shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Wheaton Precious Metals has a consensus rating of “Moderate Buy” and a consensus target price 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.