Wheaton Precious Metals (TSE:WPM) Reaches New 52-Week High – Still a Buy?

Wheaton Precious Metals Corp. (TSE:WPM) reached a new 52-week high on Thursday . The company traded as high as C$102.22 and last traded at C$100.91, with a volume of 170275 shares changing hands. The stock had previously closed at C$101.78.

Wall Street Analyst Weigh In

WPM has been the subject of a number of recent research reports. TD Securities increased their target price on Wheaton Precious Metals from C$76.00 to C$78.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Stifel Canada raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Finally, UBS Group raised shares of 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. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of C$94.86.

Wheaton Precious Metals Price Performance

The company has a market cap of C$32.14 billion, a price-to-earnings ratio of 52.73 and a beta of 0.70. The business has a 50 day simple moving average of C$90.40 and a 200 day simple moving average of C$87.15.

Wheaton Precious Metals Company Profile

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.