Wheaton Precious Metals (TSE:WPM) Sets New 52-Week High – What’s Next?

Wheaton Precious Metals Corp. (TSE:WPM)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as C$213.79 and last traded at C$213.90, with a volume of 204669 shares traded. The stock had previously closed at C$213.54.

Wall Street Analyst Weigh In

Several brokerages have recently commented on WPM. Stifel Nicolaus lifted their target price on Wheaton Precious Metals from C$205.00 to C$240.00 in a research note on Tuesday, February 10th. Peel Hunt increased their price objective on shares of Wheaton Precious Metals from C$165.00 to C$240.00 in a research report on Monday, February 2nd. Royal Bank Of Canada upgraded shares of Wheaton Precious Metals from a “hold” rating to a “moderate buy” rating and set a C$130.00 target price for the company in a research note on Wednesday, December 10th. Canaccord Genuity Group upped their price target on shares of Wheaton Precious Metals from C$220.00 to C$235.00 in a research note on Tuesday, February 17th. Finally, TD Securities reduced their price objective on Wheaton Precious Metals from C$165.00 to C$164.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Wheaton Precious Metals has a consensus rating of “Buy” and an average price target of C$179.86.

Wheaton Precious Metals Price Performance

The company’s 50-day moving average is C$183.03 and its two-hundred day moving average is C$157.68. The firm has a market cap of C$97.43 billion, a P/E ratio of 97.41 and a beta of 0.96.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals is one of the largest precious metals streaming companies in the world. The Company has entered into agreements to purchase all or a portion of the precious metals or cobalt production from high-quality mines for an upfront payment and an additional payment upon delivery of the metal. Wheaton currently has streaming agreements for 21 operating mines and 13 development stage projects. The Company’s production profile is driven by a portfolio of low-cost, long-life assets, including a gold stream on Vale’s Salobo mine, and a silver stream on Newmont’s Penasquito mine.