Wheaton Precious Metals (TSE:WPM) Price Target Raised to C$78.00

Wheaton Precious Metals (TSE:WPM) had its target price boosted by investment analysts at TD Securities from C$76.00 to C$78.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD Securities’ price objective points to a potential downside of 22.71% from the company’s current price.

Several other research firms have also recently weighed in on WPM. Stifel Canada upgraded Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. UBS Group upgraded Wheaton Precious Metals to a “strong-buy” rating in a report on Monday, November 18th. Five analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$94.86.

Wheaton Precious Metals Stock Up 2.3 %

Shares of TSE WPM traded up C$2.27 during trading hours on Wednesday, reaching C$100.92. 206,271 shares of the stock traded hands, compared to its average volume of 589,968. The company has a market capitalization of C$32.00 billion, a P/E ratio of 52.51 and a beta of 0.70. Wheaton Precious Metals has a 52-week low of C$52.87 and a 52-week high of C$101.33. The company’s 50-day simple moving average is C$87.93 and its two-hundred day simple moving average is C$86.02.

About Wheaton Precious Metals

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.