Wheaton Precious Metals (LON:WPM) Trading Down 1.9% – Here’s Why

Shares of Wheaton Precious Metals Corp. (LON:WPM) dropped 1.9% during mid-day trading on Tuesday . The company traded as low as GBX 8,800 and last traded at GBX 8,903.55. Approximately 5,872 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 7,840 shares. The stock had previously closed at GBX 9,080.

Wall Street Analyst Weigh In

Separately, Berenberg Bank boosted their price objective on Wheaton Precious Metals from £112 to £117 and gave the stock a “buy” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Wheaton Precious Metals has a consensus rating of “Buy” and an average price target of £117.

Wheaton Precious Metals Trading Up 0.7%

The stock’s fifty day moving average price is GBX 9,675.58 and its two-hundred day moving average price is GBX 9,877.64. The firm has a market capitalization of £39.22 billion, a price-to-earnings ratio of 21.83 and a beta of 1.16.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals is the world’s premier precious metals streaming company with the highest-quality portfolio of long-life, low-cost assets. Its business model offers investors leverage to commodity prices and exploration upside but with a much lower risk profile than a traditional mining company. Wheaton delivers amongst the highest cash operating margins in the mining industry, allowing it to pay a competitive dividend and continue to grow through accretive acquisitions. As a result, Wheaton has consistently outperformed gold and silver, as well as other mining investments.