Wheaton Precious Metals Corp. (WPM) closed the most recent trading day at $41.93, moving -0.83% from the previous trading session. This change was narrower than the S&P 500’s daily loss of 2%. Meanwhile, the Dow lost 2.06%, and the Nasdaq, a tech-heavy index, lost 2.32%.
Heading into today, shares of the company had lost 6.85% over the past month, lagging the Basic Materials sector’s loss of 2.42% and the S&P 500’s gain of 2.88% in that time.
Wall Street will be looking for positivity from Wheaton Precious Metals Corp. as it approaches its next earnings report date. In that report, analysts expect Wheaton Precious Metals Corp. to post earnings of $0.24 per share. This would mark a year-over-year decline of 17.24%. Our most recent consensus estimate is calling for quarterly revenue of $250.54 million, down 9.94% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Wheaton Precious Metals Corp.Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 5.23% higher. Wheaton Precious Metals Corp. is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Wheaton Precious Metals Corp.’s current valuation metrics, including its Forward P/E ratio of 34.05. This valuation marks a premium compared to its industry’s average Forward P/E of 10.81.
Meanwhile, WPM’s PEG ratio is currently 6.81. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company’s expected earnings growth rate. The Mining – Miscellaneous was holding an average PEG ratio of 2.01 at yesterday’s closing price.
The Mining – Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 76, putting it in the top 31% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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