Wheaton Precious Metals (TSE:WPM) Sets New 1-Year High After Analyst Upgrade

Wheaton Precious Metals Corp. (TSE:WPM) shares reached a new 52-week high during mid-day trading on Wednesday after TD Securities raised their price target on the stock from C$76.00 to C$78.00. TD Securities currently has a buy rating on the stock. Wheaton Precious Metals traded as high as C$101.33 and last traded at C$100.92, with a volume of 206271 shares traded. The stock had previously closed at C$98.65.

A number of other brokerages have also recently issued reports 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 raised Wheaton Precious Metals to a “strong-buy” rating in a report on Monday, November 18th. Five equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wheaton Precious Metals currently has a consensus rating of “Buy” and an average target price of C$94.86.

Wheaton Precious Metals Stock Performance

The stock has a market capitalization of C$32.00 billion, a PE ratio of 52.51 and a beta of 0.70. The stock’s 50 day moving average is C$87.93 and its two-hundred day 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.