CIBC Increases Wheaton Precious Metals (TSE:WPM) Price Target to C$130.00

Key Points

• CIBC has raised its price target for Wheaton Precious Metals from C$125.00 to C$130.00, maintaining an "outperform" rating on the stock.
• Several other analysts have also reviewed the stock, with UBS downgrading it to "hold," while Peel Hunt and Canaccord Genuity raised their target prices to C$161.00 and C$134.00, respectively.
• As of the latest trading, Wheaton Precious Metals stock was at C$147.67, reflecting a potential downside of approximately 11.97% from CIBC's new price target.

Wheaton Precious Metals (TSE:WPM - Get Free Report) had its target price boosted by CIBC from C$125.00 to C$130.00 in a report released on Friday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. CIBC's price target points to a potential downside of 11.97% from the stock's current price.

Several other equities analysts also recently weighed in on the stock. UBS Group downgraded shares of Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a report on Monday, August 11th. Peel Hunt raised their price objective on shares of Wheaton Precious Metals from C$149.00 to C$161.00 and gave the stock a "buy" rating in a research note on Monday. Finally, Canaccord Genuity Group upped their target price on Wheaton Precious Metals from C$131.00 to C$134.00 in a research note on Tuesday, June 10th. Three research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of C$124.14.

Wheaton Precious Metals Price Performance

WPM traded down C$0.77 during trading on Friday, reaching C$147.67. 215,666 shares of the stock were exchanged, compared to its average volume of 750,508. The company has a market capitalization of C$67.04 billion, a price-to-earnings ratio of 85.06 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 business's 50 day moving average price is C$131.48 and its two-hundred day moving average price is C$119.59.

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.

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