Wheaton Precious Metals (TSE:WPM) Stock Price Expected to Rise, CIBC Analyst Says

Wheaton Precious Metals (TSE:WPM) had its target price boosted by equities researchers at CIBC from C$125.00 to C$130.00 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. CIBC’s price target suggests a potential downside of 11.94% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the stock. Canaccord Genuity Group raised their price target on shares of Wheaton Precious Metals from C$131.00 to C$134.00 in a research report on Tuesday, June 10th. Peel Hunt increased their price target on shares of Wheaton Precious Metals from C$149.00 to C$161.00 and gave the stock a “buy” rating in a research report on Monday, September 8th. Finally, UBS Group downgraded shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 11th. Three analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of C$124.14.

Wheaton Precious Metals Price Performance

WPM stock opened at C$147.63 on Friday. The company has a market cap of C$67.02 billion, a P/E ratio of 85.04 and a beta of 0.70. Wheaton Precious Metals has a 1 year low of C$79.88 and a 1 year high of C$150.50. The firm has a 50-day moving average of C$131.95 and a 200 day moving average of C$120.06.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals is one of the largest precious metals streaming companies in the world. The Company has entered into agreements to purchase all or a portion of the precious metals or cobalt production from high-quality mines for an upfront payment and an additional payment upon delivery of the metal.