#4 - Wheaton Precious Metals (NYSE:WPM)
Wheaton Precious Metals (NYSE:WPM) is one of the largest metals streaming companies in the world. The company pays mining companies a fixed up-front payment to help develop a project. In exchange, Wheaton gets rights to purchase a portion of the production at a fixed cost.
Of course, the company can then sell those metals at their current market price and pocket the difference. It’s an efficient business model that makes the company an attractive investment. Like the other stocks we’ve listed, Wheaton had a strong fourth quarter with earnings and revenue solidly beating expectations.
Since the beginning of 2020, institutions have been increasing their purchases of WPM stock. Currently, the stock enjoys about 60% institutional ownership.
Of the 15 analysts that offer a rating for WPM stock, 11 give the stock a buy rating. And the consensus price target of $57.73 is a 43% increase from the stock’s current price.
In the short term, Wheaton may experience a little headwind as the company digests its acquisition of Capstone Mining’s Santo Domingo Project. Although the $290 million that Wheaton is spending is not payable all at once, analysts will be looking for further guidance to see how that may affect the company’s earnings.
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)
