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

Wheaton Precious Metals Corp. (TSE:WPM)’s stock price hit 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.

Analyst Ratings Changes

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

Wheaton Precious Metals Stock Up 0.5%

The firm has a market capitalization of C$97.43 billion, a price-to-earnings ratio of 97.41 and a beta of 0.96. The business’s fifty day moving average is C$183.03 and its 200 day moving average is C$157.68.

About Wheaton Precious Metals

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.