Wheaton Precious Metals (LON:WPM) Sets New 12-Month High - Time to Buy?

Key Points

• Wheaton Precious Metals reached a new 12-month high share price of GBX 8,240 ($112.09) during trading, indicating significant market interest.
• Berenberg Bank has raised their target price on shares of Wheaton Precious Metals from GBX 7,800 to GBX 8,300, maintaining a "buy" rating on the stock.
• The company has a market cap of £35.68 billion and a price-to-earnings ratio of 4,527.65, reflecting its robust financial standing.

Wheaton Precious Metals Corp. (LON:WPM - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as GBX 8,240 ($111.02) and last traded at GBX 8,080 ($108.87), with a volume of 718 shares changing hands. The stock had previously closed at GBX 7,940 ($106.98).

Wall Street Analysts Forecast Growth

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

Wheaton Precious Metals Stock Up 3.9%

The stock has a market capitalization of £35.95 billion, a P/E ratio of 4,562.21 and a beta of 0.70. The company has a 50-day moving average price of GBX 7,244.95 and a two-hundred day moving average price of GBX 6,555.74.

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.