Wheaton Precious Metals (LON:WPM) Stock Falls 5.4% – Here’s Why

Wheaton Precious Metals Corp. (LON:WPM) dropped 5.4% during mid-day trading on Friday. The company traded as low as GBX 8,668.06 and last traded at GBX 8,700. Approximately 1,120 shares changed hands during trading, a decline of 82% from the average daily volume of 6,198 shares. The stock had previously closed at GBX 9,200.

Analysts Set New Price Targets

Separately, Berenberg Bank restated a “buy” rating and issued a £117 target price on shares of Wheaton Precious Metals in a report on Thursday, September 17th. One research analyst has rated the stock with a Buy rating. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of £117.

Wheaton Precious Metals Trading Down 5.4%

The stock has a market capitalization of £39.51 billion, a PE ratio of 19.30 and a beta of 1.19. The stock’s fifty day simple moving average is £105.91 and its 200-day simple moving average is GBX 9,971.56.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals is the world’s premier precious metals streaming company with the highest-quality portfolio of long-life, low-cost assets. Its business model offers investors leverage to commodity prices and exploration upside but with a much lower risk profile than a traditional mining company. Wheaton delivers amongst the highest cash operating margins in the mining industry, allowing it to pay a competitive dividend and continue to grow through accretive acquisitions. As a result, Wheaton has consistently outperformed gold and silver, as well as other mining investments.