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

Wheaton Precious Metals Corp. (TSE:WPM)’s stock 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 trading hands. The stock had previously closed at C$98.65.

Other research analysts have also issued reports about the stock. Stifel Canada upgraded shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. UBS Group raised shares of Wheaton Precious Metals to a “strong-buy” rating in a research note on Monday, November 18th. Five equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wheaton Precious Metals currently has an average rating of “Buy” and a consensus price target of C$94.86.

Wheaton Precious Metals Stock Performance

The stock has a market cap of C$32.00 billion, a price-to-earnings ratio of 52.51 and a beta of 0.70. The firm’s 50-day simple moving average is C$87.93 and its two-hundred day simple moving average is C$86.02.

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.