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

Shares of Wheaton Precious Metals Corp. (TSE:WPM) hit a new 52-week high on Thursday . The stock traded as high as C$106.17 and last traded at C$104.55, with a volume of 283467 shares trading hands. The stock had previously closed at C$102.40.

Wall Street Analyst Weigh In

WPM has been the topic of several research reports. TD Securities boosted their price target on shares of Wheaton Precious Metals from C$76.00 to C$78.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Peel Hunt lifted their price objective on shares of Wheaton Precious Metals from C$95.00 to C$110.00 and gave the stock a “buy” rating in a research note on Tuesday. UBS Group raised shares of Wheaton Precious Metals to a “strong-buy” rating in a research note on Monday, November 18th. Finally, Stifel Canada upgraded shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Five investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$97.00.

Wheaton Precious Metals Price Performance

The firm’s fifty day simple moving average is C$92.05 and its 200 day simple moving average is C$87.71. The company has a market capitalization of C$33.30 billion, a price-to-earnings ratio of 54.65 and a beta of 0.70.

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.