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 mid-day trading on Monday . The company traded as high as C$225.03 and last traded at C$222.58, with a volume of 443937 shares trading hands. The stock had previously closed at C$222.27.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Royal Bank Of Canada upgraded Wheaton Precious Metals from a “hold” rating to a “moderate buy” rating and set a C$130.00 price target on the stock in a research note on Wednesday, December 10th. Canaccord Genuity Group upped their price objective on shares of Wheaton Precious Metals from C$220.00 to C$235.00 in a report on Tuesday, February 17th. Peel Hunt increased their price objective on shares of Wheaton Precious Metals from C$165.00 to C$240.00 in a research report on Monday, February 2nd. Stifel Nicolaus lifted their target price on shares of Wheaton Precious Metals from C$205.00 to C$240.00 in a report on Tuesday, February 10th. Finally, TD Securities decreased their price target on shares of Wheaton Precious Metals from C$165.00 to C$164.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$179.86.

Wheaton Precious Metals Stock Up 1.5%

The firm has a market capitalization of C$95.34 billion, a price-to-earnings ratio of 95.32 and a beta of 0.96. The company’s 50 day moving average is C$189.64 and its 200 day moving average is C$161.27.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals is one of the largest precious metals streaming companies in the world. The Company has entered into agreements to purchase all or a portion of the precious metals or cobalt production from high-quality mines for an upfront payment and an additional payment upon delivery of the metal. Wheaton currently has streaming agreements for 21 operating mines and 13 development stage projects. The Company’s production profile is driven by a portfolio of low-cost, long-life assets, including a gold stream on Vale’s Salobo mine, and a silver stream on Newmont’s Penasquito mine.