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

Wheaton Precious Metals Corp. (TSE:WPM)’s share price 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.

A number of other brokerages have also recently commented on WPM. Stifel Canada raised 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 research note on Monday, November 18th. Five research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Wheaton Precious Metals presently has an average rating of “Buy” and a consensus target price of C$94.86.

Wheaton Precious Metals Price Performance

The stock has a fifty day moving average price of C$88.29 and a two-hundred day moving average price of C$86.19. The company has a market cap of C$31.97 billion, a P/E ratio of 52.46 and a beta of 0.70.

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.