10:31 AM EDT, 03/14/2025 (MT Newswires) -- Wheaton Precious Metals ( WPM ) has kept its stock ratings and price targets at RBC Capital Markets and National Bank of Canada, according to notes published Thursday.

RBC maintained Wheaton's Sector Perform rating and US$75 price target after the company reported "neutral" results in the fourth quarter of 2024, including adjusted earnings per share of US$0.44 that beat RBC's forecast of US$0.42, while FCF was a higher $204m (RBC estimated $33m, $130m was the consensus), due to timing of capital spending. RBC noted earnings included a $109m impairment related to Voisey's Bay due to lower cobalt prices.

Wheaton also announced a 6.5% dividend hike to $0.165 per share.

National Bank retained Wheaton's C$115.0 price target and Outperform rating.

The price target was based on a weighted multiple of 2.30x NAV (33%) + 30.0x EV/2025E CF (33%) + 30.0x EV/2026E CF (33%).

The bank said the Outperform rating is predicated on Wheaton's "stable" financial position and "high-quality, low-cost long-life asset portfolio."

"The company's valuation remains compelling relative to peers and in a challenging deal environment within the royalty/streaming sector, Wheaton's embedded organic growth supports an improved outlook with completion of Salobo Phase 3 as well as Blackwater, Goose, Platreef and Mineral Park reaching production throughout H1/25," the bank said.

Wheaton was trading 0.9% higher at last look Friday to $105.98 on the TSX.

Price: 106.74, Change: +1.72, Percent Change: +1.64