Wheaton Precious Metals (LON:WPM) Reaches New 1-Year 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.

Shares of Wheaton Precious Metals Corp. (LON:WPM - Get Free Report) hit a new 52-week high on Monday . The company traded as high as GBX 7,940 ($107.11) and last traded at GBX 7,797.72 ($105.19), with a volume of 3827 shares traded. The stock had previously closed at GBX 7,785.58 ($105.03).

Wall Street Analyst Weigh In

Separately, Berenberg Bank boosted their price objective on Wheaton Precious Metals from GBX 7,200 to GBX 7,800 and gave the stock a "buy" rating in a research report on Friday, August 8th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Wheaton Precious Metals presently has an average rating of "Buy" and an average price target of GBX 7,800.

Wheaton Precious Metals Stock Up 0.2%

The business's 50 day moving average is GBX 6,998.58 and its two-hundred day moving average is GBX 6,404.82. The firm has a market cap of £35.40 billion, a P/E ratio of 4,491.77 and a beta of 0.70.

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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