Wheaton Precious Metals (LON:WPM) Reaches New 52-Week High - Should You Buy?

Key Points

• Wheaton Precious Metals shares reached a new 52-week high, trading at GBX 7,940 ($107.11) before settling at GBX 7,797.72 ($105.19).
• Berenberg Bank increased their price target for Wheaton from GBX 7,200 to GBX 7,800, maintaining a "buy" rating for the stock.
• The company boasts a market capitalization of £35.40 billion and presents a unique investment model with lower risks compared to traditional mining firms.

Wheaton Precious Metals Corp. (LON:WPM - Get Free Report) shares hit a new 52-week high during trading on Monday . The stock traded as high as GBX 7,940 ($107.70) and last traded at GBX 7,797.72 ($105.77), with a volume of 3827 shares. The stock had previously closed at GBX 7,785.58 ($105.61).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank raised their price objective on shares of Wheaton Precious Metals from GBX 7,800 to GBX 8,300 and gave the stock a "buy" rating in a report on Thursday. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of GBX 8,300.

Wheaton Precious Metals Price Performance

The firm has a market capitalization of £35.75 billion, a PE ratio of 4,536.28 and a beta of 0.70. The business's 50 day moving average is GBX 7,122.62 and its two-hundred day moving average is GBX 6,481.74.

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.