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

Wheaton Precious Metals Corp. (TSE:WPM) hit a new 52-week high during 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 changing hands. The stock had previously closed at C$98.65.

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

Wheaton Precious Metals Stock Up 2.2 %

The firm has a 50 day moving average of C$88.29 and a 200 day moving average of C$86.19. The firm has a market cap of C$31.97 billion, a price-to-earnings ratio of 52.46 and a beta of 0.70.

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.