Wheaton Precious Metals (TSE:WPM) Reaches New 12-Month High – Still a Buy?

Shares of Wheaton Precious Metals Corp. (TSE:WPM) hit a new 52-week high during trading on Thursday . The company traded as high as C$102.22 and last traded at C$100.91, with a volume of 170275 shares traded. The stock had previously closed at C$101.78.

Analysts Set New Price Targets

Several brokerages have commented on WPM. TD Securities raised their price target on shares of Wheaton Precious Metals from C$76.00 to C$78.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. UBS Group upgraded Wheaton Precious Metals to a “strong-buy” rating in a research note on Monday, November 18th. Finally, Stifel Canada upgraded Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Five research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of C$94.86.

Wheaton Precious Metals Price Performance

The company has a market capitalization of C$31.85 billion, a P/E ratio of 52.26 and a beta of 0.70. The business’s 50-day moving average price is C$90.04 and its two-hundred day moving average price is C$87.00.

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.