#5 - Wheaton Precious Metals (NYSE:WPM)
Gold is one of the best-performing asset classes in 2024. Wheaton Precious Metals Corp. (NYSE: WPM) is a stock to buy if you believe that gold and silver will continue to move higher in 2025.
And despite gold’s move lower after confirmation of Donald Trump’s victory, the dip isn’t likely to last. That’s because the root cause of gold’s surge is less about the geopolitical risks that investors can see; but the rise in government spending that is eroding the value of the dollar. That’s not likely to end in a meaningful way anytime soon.
The benefit of owning Wheaton is that the company doesn’t require you to take on the risks of owning physical gold or the cyclicality of mining stocks. Instead, the company secures long-term contracts to buy precious metals from mining companies at fixed, low prices. In times of rising prices, this can help Wheaton generate significant profits.
WPM stock is up 27% in 2024. However, analysts are forecasting earnings growth of 23% in the next 12 months. That may not be priced into the WPM stock price, which currently has a consensus price target that gives the stock an 8% upside.
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.
Read More - Current Price
- $64.41
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 8 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $70.25 (9.1% Upside)
