TD Securities Forecasts Strong Price Appreciation for Wheaton Precious Metals (TSE:WPM) Stock

Wheaton Precious Metals (TSE:WPM - Get Free Report) had its price objective upped by equities researchers at TD Securities from C$76.00 to C$78.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. TD Securities' target price points to a potential downside of 21.91% from the stock's previous close.

A number of other analysts have also recently weighed in on the company. UBS Group raised Wheaton Precious Metals to a "strong-buy" rating in a research report on Monday, November 18th. Stifel Canada raised 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 company. Based on data from MarketBeat, Wheaton Precious Metals currently has an average rating of "Buy" and a consensus price target of C$94.86.

Wheaton Precious Metals Stock Performance

TSE:WPM traded up C$1.68 during trading hours on Wednesday, reaching C$99.89. The company's stock had a trading volume of 2,569,709 shares, compared to its average volume of 645,380. The company has a market capitalization of C$31.68 billion, a P/E ratio of 51.98 and a beta of 0.70. Wheaton Precious Metals has a 12 month low of C$54.95 and a 12 month high of C$101.33. The stock has a 50 day moving average price of C$88.97 and a two-hundred day moving average price of C$86.61.

Wheaton Precious Metals Company Profile

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.