Wheaton Precious Metals Corp. (TSE:WPM) Beat Earnings, And Analysts Have Been Reviewing Their Forecasts

Wheaton Precious Metals Corp. (TSE:WPM) defied analyst predictions to release its second-quarter results, which were ahead of market expectations. The company beat expectations with revenues of US$929m arriving 5.2% ahead of forecasts. Statutory earnings per share (EPS) were US$1.19, 5.5% ahead of estimates. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year.

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After the latest results, the eleven analysts covering Wheaton Precious Metals are now predicting revenues of US$3.84b in 2026. If met, this would reflect a major 21% improvement in revenue compared to the last 12 months. Statutory earnings per share are predicted to accumulate 8.8% to US$4.91. In the lead-up to this report, the analysts had been modelling revenues of US$3.72b and earnings per share (EPS) of US$4.70 in 2026. So there seems to have been a moderate uplift in sentiment following the latest results, given the upgrades to both revenue and earnings per share forecasts for next year.

Check out our latest analysis for Wheaton Precious Metals

Despite these upgrades,the analysts have not made any major changes to their price target of CA$236, suggesting that the higher estimates are not likely to have a long term impact on what the stock is worth. The consensus price target is just an average of individual analyst targets, so - it could be handy to see how wide the range of underlying estimates is. There are some variant perceptions on Wheaton Precious Metals, with the most bullish analyst valuing it at CA$284 and the most bearish at CA$185 per share. There are definitely some different views on the stock, but the range of estimates is not wide enough as to imply that the situation is unforecastable, in our view.

Another way we can view these estimates is in the context of the bigger picture, such as how the forecasts stack up against past performance, and whether forecasts are more or less bullish relative to other companies in the industry. The analysts are definitely expecting Wheaton Precious Metals' growth to accelerate, with the forecast 46% annualised growth to the end of 2026 ranking favourably alongside historical growth of 19% per annum over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to grow their revenue at 13% per year. Factoring in the forecast acceleration in revenue, it's pretty clear that Wheaton Precious Metals is expected to grow much faster than its industry.

The Bottom Line

The most important thing here is that the analysts upgraded their earnings per share estimates, suggesting that there has been a clear increase in optimism towards Wheaton Precious Metals following these results. Pleasantly, they also upgraded their revenue estimates, and their forecasts suggest the business is expected to grow faster than the wider industry. The consensus price target held steady at CA$236, with the latest estimates not enough to have an impact on their price targets.

With that said, the long-term trajectory of the company's earnings is a lot more important than next year. At Simply Wall St, we have a full range of analyst estimates for Wheaton Precious Metals going out to 2028, and you can see them free on our platform here..

Even so, be aware that Wheaton Precious Metals is showing 1 warning sign in our investment analysis , you should know about...

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.