Wheaton Precious Metals (NYSE:WPM) Announces Earnings Results, Beats Expectations By $0.31 EPS

Wheaton Precious Metals (NYSE:WPM) released its quarterly earnings data on Thursday. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.31, Briefing.com reports. Wheaton Precious Metals had a return on equity of 13.32% and a net margin of 54.72%.During the same period in the prior year, the company earned $0.44 earnings per share. Wheaton Precious Metals’s revenue was up 127.3% on a year-over-year basis.

Wheaton Precious Metals Trading Down 1.8%

NYSE WPM traded down $2.72 during trading hours on Thursday, hitting $145.95. 2,134,366 shares of the company’s stock were exchanged, compared to its average volume of 2,419,893. The firm has a market cap of $66.27 billion, a price-to-earnings ratio of 66.34, a PEG ratio of 2.26 and a beta of 0.50. The stock has a 50-day simple moving average of $141.91 and a 200 day simple moving average of $118.84. Wheaton Precious Metals has a 1-year low of $68.03 and a 1-year high of $165.76.

Institutional Trading of Wheaton Precious Metals

Several large investors have recently modified their holdings of the stock. Quarry LP bought a new stake in shares of Wheaton Precious Metals in the 4th quarter valued at $34,000. Triumph Capital Management bought a new position in Wheaton Precious Metals during the third quarter worth $33,000. EFG International AG acquired a new stake in Wheaton Precious Metals in the fourth quarter worth $54,000. Greenline Wealth Management LLC acquired a new stake in Wheaton Precious Metals in the fourth quarter worth $62,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Wheaton Precious Metals in the fourth quarter valued at $63,000. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on WPM shares. Zacks Research downgraded Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wheaton Precious Metals in a research note on Monday, December 29th. Jefferies Financial Group reissued a “buy” rating and set a $145.00 target price on shares of Wheaton Precious Metals in a research report on Sunday, December 7th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Wheaton Precious Metals in a report on Wednesday, February 4th. Finally, UBS Group restated a “neutral” rating and issued a $158.00 price target on shares of Wheaton Precious Metals in a research report on Friday, January 30th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $140.44.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.