Wheaton Precious Metals (LON:WPM) Hits New 12-Month High – Time to Buy?

Wheaton Precious Metals Corp. (LON:WPM) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as GBX 9,400 and last traded at GBX 9,279.74, with a volume of 813 shares traded. The stock had previously closed at GBX 8,980.

Analysts Set New Price Targets

Separately, Berenberg Bank lifted their price objective on shares of Wheaton Precious Metals from GBX 9,600 to GBX 9,700 and gave the company a “buy” rating in a report on Friday, November 7th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Wheaton Precious Metals currently has a consensus rating of “Buy” and an average price target of GBX 9,700.

Wheaton Precious Metals Stock Performance

The business has a 50-day simple moving average of GBX 8,013.57 and a 200-day simple moving average of GBX 7,536.90. The company has a market cap of £42.04 billion, a price-to-earnings ratio of 42.03 and a beta of 0.70.

About Wheaton Precious Metals

Wheaton Precious Metals is the world’s premier precious metals streaming company with the highest-quality portfolio of long-life, low-cost assets. Its business model offers investors leverage to commodity prices and exploration upside but with a much lower risk profile than a traditional mining company. Wheaton delivers amongst the highest cash operating margins in the mining industry, allowing it to pay a competitive dividend and continue to grow through accretive acquisitions. As a result, Wheaton has consistently outperformed gold and silver, as well as other mining investments.