Wheaton Precious Metals (TSE:WPM) Reaches New 52-Week High – Here’s What Happened

Wheaton Precious Metals Corp. (TSE:WPM) reached a new 52-week high during trading on Friday . The stock traded as high as C$111.37 and last traded at C$109.87, with a volume of 358817 shares trading hands. The stock had previously closed at C$109.67.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Stifel Canada upgraded Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. National Bankshares raised their target price on shares of Wheaton Precious Metals from C$115.00 to C$120.00 and gave the company an “outperform” rating in a research note on Monday, March 17th. Peel Hunt boosted their price target on shares of Wheaton Precious Metals from C$95.00 to C$110.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. CIBC increased their price objective on shares of Wheaton Precious Metals from C$85.00 to C$88.00 and gave the company an “outperform” rating in a report on Friday, March 14th. Finally, TD Securities upped their target price on shares of Wheaton Precious Metals from C$78.00 to C$83.00 and gave the company a “buy” rating in a research report on Friday, March 14th. Six equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of C$98.38.

Wheaton Precious Metals Stock Up 0.3 %

The stock has a market capitalization of C$34.89 billion, a P/E ratio of 57.25 and a beta of 0.70. The company has a fifty day simple moving average of C$98.14 and a two-hundred day simple moving average of C$89.88.

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.