Wheaton Precious Metals (TSE:WPM) Hits New 12-Month High – What’s Next?

Wheaton Precious Metals Corp. (TSE:WPM) hit a new 52-week high on Monday . The company traded as high as C$225.03 and last traded at C$222.58, with a volume of 443937 shares. The stock had previously closed at C$222.27.

Analyst Ratings Changes

A number of brokerages recently commented on WPM. Peel Hunt lifted their price target on Wheaton Precious Metals from C$165.00 to C$240.00 in a report on Monday, February 2nd. 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. TD Securities cut their price target on shares of Wheaton Precious Metals from C$165.00 to C$164.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. Canaccord Genuity Group raised their price objective on shares of Wheaton Precious Metals from C$220.00 to C$235.00 in a report on Tuesday, February 17th. Finally, Royal Bank Of Canada raised shares of Wheaton Precious Metals from a “hold” rating to a “moderate buy” rating and set a C$130.00 price objective on the stock in a research report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Wheaton Precious Metals has a consensus rating of “Buy” and a consensus price target of C$179.86.

Wheaton Precious Metals Price Performance

The stock has a market capitalization of C$102.90 billion, a P/E ratio of 102.88 and a beta of 0.96. The stock has a fifty day moving average price of C$187.69 and a 200 day moving average price of C$160.05.

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.