#5 - Wheaton Precious Metals (NYSE:WPM)
Year-to-Date Gain: 78%
Before we take a look at a mining exchange-traded fund (ETF), let’s take a look at a mining stock that behaves similar to an ETF. That would be Wheaton Precious Metals (NYSE: WPM). It doesn’t have traditional mining operations. Rather, Wheaton’s model is one in which it doesn’t mine the metals directly. Instead, Wheaton buys the output from other mines at a predetermined price.
By occupying this middle ground between pure-play mining stocks and ETFs, WPM gives investors stability. This stability comes at a slight cost because in times like these where the price of gold is surging, Wheaton does not climb as high. However, when gold goes down, Wheaton has lower lows.
But in 2020, investors are seeing the WPM stock price be much higher than the price for physical gold. That may be because, as its name implies, Wheaton Precious Metals is involved in more than just the production of gold. WPM stock hit an all-time high in May and has not stopped climbing. With sentiment for gold expected to stay strong, Wheaton looks like a solid bet for the rest of 2020.
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
- $57.11
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 9 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $71.67 (25.5% Upside)