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Will Wheaton Precious Metals Make New Highs in 2022? | The Mesh Report

Will Wheaton Precious Metals Make New Highs in 2022?

The Gold Enthusiast April 29, 2022 Comments Off on Will Wheaton Precious Metals Make New Highs in 2022?

Wheaton Precious Metals Corp. (WPM) in Vancouver, Canada, is a precious metals seller in Canada and globally. The company’s offerings include gold, silver, palladium, and cobalt deposits. In 2021, WPM reported the sale of 663.4 thousand gold equivalent ounces at $1,811 per ounce. Given Russia’s move to peg its currency to gold, the company might benefit from the strength in gold futures. WPM has experienced substantial growth over the past year, due to a surge in silver prices.

WPM’s stock has gained 8.3% over the past year and 4.9% year-to-date to close yesterday’s trading session at $45.04. It has gained 15.5% in price over the past three months. However, the stock has declined 6.7% over the past month and 8.3% over the past five days.

Here is what could shape WPM’s performance in the near term.

Solid Bottomline

For its  fiscal year ended Dec. 31, 2021, WPM’s sales increased 9.6% year-over-year to $1.20 billion. Its earnings from operations rose 45.2% from the prior year to $754.66 million. Its net earnings and EPS came in at $754.89 million and $1.67, registering improvements of 48.7% and 48.3%, respectively,  from the prior-year period.

Mixed Analyst Sentiments

The consensus EPS estimate of $0.34 for the first fiscal quarter (ended March 2022) indicates a 4.5% year-over-year decrease. Likewise, the consensus revenue estimate for the same quarter of $313.27 million reflects a decline of 3.4% from the prior-year quarter.

However, analysts expect WPM’s EPS to increase 2.2% year-over-year to $0.37 for the second fiscal quarter (ending June 3o, 2022), while the Street expects revenue for the same quarter to increase 4.2% from the same period in the prior year to $344.41 million.

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