Wheaton Precious Metals Corp. (TSE:WPM) Receives C$98.38 Consensus Price Target from Analysts

Wheaton Precious Metals Corp. (TSE:WPM) has garnered a consensus rating of 'Buy' from nine research firms currently analyzing the company, according to MarketBeat.com. Of these analysts, six have issued a buy rating while three have given a more optimistic strong buy rating. The average target price over the next 12 months, as evaluated by these analysts, stands at C$98.38.

The stock has recently been the focus of numerous updates from research analysts. For instance, Stifel Canada upgraded Wheaton Precious Metals from a 'hold' to a 'strong-buy' rating in a report published on February 4. Following that, CIBC increased its target price from C$85.00 to C$88.00 for Wheaton, reinforcing an 'outperform' rating in their report on March 14. Further, National Bankshares raised their price target for the stock from C$115.00 to C$120.00 and maintained an 'outperform' rating in a report from March 17. Similarly, Peel Hunt adjusted their target from C$95.00 to C$110.00, continuing to support a buy rating in their note on March 11. Additionally, TD Securities also raised their price objective from C$78.00 to C$83.00 while assigning a buy rating on March 14.

Wheaton Precious Metals Stock Performance

On the trading front, shares of WPM opened at C$107.30 recently. The company’s 50-day moving average price is C$96.05, while the 200-day moving average is C$89.04. Over the past year, Wheaton Precious Metals has experienced a low of C$60.61 and a high of C$110.46. The firm’s current market capitalization stands at approximately C$34.03 billion, with a price-to-earnings ratio of 55.83 and a beta of 0.70, indicating relatively lower volatility compared to the broader market.

Company Background

Wheaton Precious Metals Corp. primarily engages in selling precious metals across North America, Europe, and South America. The company produces and sells a range of metals including gold, silver, palladium, and cobalt. Originally known as Silver Wheaton Corp., it rebranded as Wheaton Precious Metals Corp. in May 2017.

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Wheaton, Metals, Analysis