Canaccord Genuity Group Forecasts Strong Price Appreciation for Wheaton Precious Metals (TSE:WPM) Stock

Wheaton Precious Metals (TSE:WPM - Get Free Report) had its target price upped by analysts at Canaccord Genuity Group from C$131.00 to C$134.00 in a research report issued on Tuesday,BayStreet.CA reports. Canaccord Genuity Group's price objective would indicate a potential upside of 10.02% from the company's previous close.

A number of other analysts also recently issued reports on WPM. National Bankshares lifted their price target on Wheaton Precious Metals from C$115.00 to C$120.00 and gave the stock an "outperform" rating in a report on Monday, March 17th. Stifel Nicolaus upped their price target on Wheaton Precious Metals from C$107.00 to C$141.00 in a report on Monday, April 21st. Peel Hunt increased their price target on shares of Wheaton Precious Metals from C$95.00 to C$110.00 and gave the company a "buy" rating in a research note on Tuesday, March 11th. BMO Capital Markets upgraded shares of Wheaton Precious Metals to a "strong-buy" rating in a research report on Tuesday, April 15th. Finally, CIBC increased their target price on shares of Wheaton Precious Metals from C$85.00 to C$88.00 and gave the company an "outperform" rating in a research report on Friday, March 14th. Five research analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of C$109.50.

Wheaton Precious Metals Stock Performance

Shares of TSE:WPM traded up C$1.20 during trading hours on Tuesday, reaching C$121.80. The stock had a trading volume of 456,946 shares, compared to its average volume of 781,019. The stock has a market capitalization of C$38.63 billion, a price-to-earnings ratio of 63.38 and a beta of 0.70. The firm's 50 day moving average is C$114.62 and its 200-day moving average is C$100.49. Wheaton Precious Metals has a 1 year low of C$71.18 and a 1 year high of C$129.87.

About Wheaton Precious Metals

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.