Wheaton Precious Metals (LON:WPM) Hits New 52-Week High - Here's Why

Key Points

• Wheaton Precious Metals reached a new 52-week high of GBX 8,320 ($111.54) during trading, with a current trading price of GBX 8,267.87 ($110.84).
• Berenberg Bank raised its target price on Wheaton's shares from GBX 7,800 to GBX 8,300, reaffirming a "buy" rating.
• The company boasts a market capitalization of £37.36 billion and operates a low-risk business model focused on precious metals streaming.

Wheaton Precious Metals Corp. (LON:WPM - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as GBX 8,320 ($111.54) and last traded at GBX 8,267.87 ($110.84), with a volume of 2780 shares. The stock had previously closed at GBX 8,072.29 ($108.22).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank increased their target price on shares of Wheaton Precious Metals from GBX 7,800 to GBX 8,300 and gave the stock a "buy" rating in a research note on Thursday, September 11th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of GBX 8,300.

Wheaton Precious Metals Stock Up 2.0%

The stock has a market capitalization of £37.36 billion, a P/E ratio of 4,740.62 and a beta of 0.70. The business's 50 day simple moving average is GBX 7,371.45 and its two-hundred day simple moving average is GBX 6,661.04.

Wheaton Precious Metals Company Profile

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.

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