Canaccord Genuity Group Forecasts Strong Price Appreciation for Wheaton Precious Metals (TSE:WPM) Stock

Wheaton Precious Metals (TSE:WPM) had its target price raised by research analysts at Canaccord Genuity Group from C$131.00 to C$134.00 in a note issued to investors on Tuesday,BayStreet.CA reports. Canaccord Genuity Group’s target price suggests a potential upside of 11.01% from the company’s current price.

A number of other equities analysts have also commented on the stock. Peel Hunt boosted their price target on shares of Wheaton Precious Metals from C$95.00 to C$110.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. CIBC upped their price target on shares of Wheaton Precious Metals from C$85.00 to C$88.00 and gave the stock an “outperform” rating in a research report on Friday, March 14th. TD Securities raised their price target on shares of Wheaton Precious Metals from C$78.00 to C$83.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. BMO Capital Markets upgraded shares of Wheaton Precious Metals to a “strong-buy” rating in a research note on Tuesday, April 15th. Finally, Stifel Nicolaus lifted their target price on shares of Wheaton Precious Metals from C$107.00 to C$141.00 in a research report on Monday, April 21st. Five analysts have rated the stock with a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of C$109.50.

Wheaton Precious Metals Price Performance

Wheaton Precious Metals stock traded down C$1.25 during midday trading on Tuesday, reaching C$120.71. The stock had a trading volume of 213,771 shares, compared to its average volume of 779,805. The firm’s fifty day simple moving average is C$114.42 and its two-hundred day simple moving average is C$100.27. The firm has a market cap of C$38.28 billion, a price-to-earnings ratio of 62.81 and a beta of 0.70. Wheaton Precious Metals has a twelve month low of C$71.18 and a twelve month high of C$129.87.

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.