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

Wheaton Precious Metals (TSE:WPM - Get Free Report) had its price objective upped by investment analysts at Canaccord Genuity Group from C$131.00 to C$134.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. Canaccord Genuity Group's price objective would indicate a potential upside of 7.57% from the company's current price.

Several other analysts also recently weighed in on WPM. BMO Capital Markets upgraded shares of Wheaton Precious Metals to a "strong-buy" rating in a research report on Tuesday, April 15th. National Bankshares boosted their price objective on Wheaton Precious Metals from C$115.00 to C$120.00 and gave the stock an "outperform" rating in a research report on Monday, March 17th. TD Securities raised their target price on Wheaton Precious Metals from C$78.00 to C$83.00 and gave the company a "buy" rating in a research report on Friday, March 14th. Stifel Nicolaus increased their price target on Wheaton Precious Metals from C$107.00 to C$141.00 in a research note on Monday, April 21st. Finally, Peel Hunt lifted their price objective 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. Five research analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of C$109.50.

Wheaton Precious Metals Stock Up 1.3%

Shares of TSE:WPM traded up C$1.57 on Tuesday, reaching C$124.57. 1,014,546 shares of the company's stock were exchanged, compared to its average volume of 781,923. The business's 50-day moving average is C$115.48 and its two-hundred day moving average is C$100.80. Wheaton Precious Metals has a fifty-two week low of C$71.18 and a fifty-two week high of C$129.87. The firm has a market capitalization of C$39.50 billion, a price-to-earnings ratio of 64.82 and a beta of 0.70.

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.