Wheaton Precious Metals (TSE:WPM) Sets New 1-Year High – What’s Next?

Wheaton Precious Metals Corp. (TSE:WPM)’s stock price hit 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. The stock had previously closed at C$109.67.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. TD Securities lifted their target price on 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. National Bankshares increased their price objective on Wheaton Precious Metals from C$115.00 to C$120.00 and gave the company an “outperform” rating in a report on Monday, March 17th. Peel Hunt boosted their target price on shares of Wheaton Precious Metals from C$95.00 to C$110.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. CIBC increased their price target on shares of Wheaton Precious Metals from C$85.00 to C$88.00 and gave the company an “outperform” rating in a research note on Friday, March 14th. Finally, 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. Six investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$98.38.

Wheaton Precious Metals Trading Up 0.3 %

The business’s 50 day moving average price is C$98.14 and its 200-day moving average price is C$89.88. The company has a market cap of C$34.89 billion, a price-to-earnings ratio of 57.25 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.