Wheaton Precious Metals (TSE:WPM) Price Target Cut to C$164.00 by Analysts at TD Securities

Wheaton Precious Metals (TSE:WPM) had its target price dropped by TD Securities from C$165.00 to C$164.00 in a research note issued on Wednesday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD Securities’ target price indicates a potential downside of 17.40% from the company’s previous close.

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

Wheaton Precious Metals Stock Performance

Shares of WPM stock traded up C$4.57 during mid-day trading on Wednesday, reaching C$198.55. The company’s stock had a trading volume of 297,823 shares, compared to its average volume of 811,888. The firm’s 50-day moving average is C$179.46 and its two-hundred day moving average is C$155.69. Wheaton Precious Metals has a 1-year low of C$95.96 and a 1-year high of C$214.41. The company has a market cap of C$90.15 billion, a P/E ratio of 90.13 and a beta of 0.96.

About Wheaton Precious Metals

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.