Wheaton Precious Metals (TSE:WPM) Sets New 52-Week High – Time to Buy?

Wheaton Precious Metals Corp. (TSE:WPM) shares 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.

Wall Street Analyst Weigh In

WPM has been the topic of a number of research reports. CIBC boosted their price target on 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. Stifel Canada upgraded shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. National Bankshares boosted their target price on shares of Wheaton Precious Metals from C$115.00 to C$120.00 and gave the stock an “outperform” rating in a report on Monday, March 17th. Peel Hunt increased their price objective on Wheaton Precious Metals from C$95.00 to C$110.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. Finally, TD Securities raised their price target on shares of Wheaton Precious Metals from C$78.00 to C$83.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. Six research 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.com, the company presently has a consensus rating of “Buy” and an average target price of C$98.38.

Wheaton Precious Metals Price Performance

The firm has a market cap of C$34.89 billion, a P/E ratio of 57.25 and a beta of 0.70. The company’s 50-day moving average is C$97.61 and its two-hundred day moving average is C$89.60.

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.