Wheaton Precious Metals (TSE:WPM) Sets New 52-Week High - Here's What Happened

Wheaton Precious Metals Corp. (TSE:WPM - Get Free Report) reached a new 52-week high on Thursday . The stock traded as high as C$102.22 and last traded at C$100.91, with a volume of 170275 shares changing hands. The stock had previously closed at C$101.78.

Analyst Upgrades and Downgrades

WPM has been the topic of several recent research reports. Stifel Canada raised Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 4th. TD Securities raised their price objective on Wheaton Precious Metals from C$76.00 to C$78.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Finally, UBS Group raised Wheaton Precious Metals to a "strong-buy" rating in a report on Monday, November 18th. Five equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of C$94.86.

Wheaton Precious Metals Stock Performance

The stock has a market capitalization of C$32.14 billion, a price-to-earnings ratio of 52.73 and a beta of 0.70. The company has a fifty day simple moving average of C$90.78 and a 200 day simple moving average of C$87.30.

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.