Wheaton Precious Metals (LON:WPM) Trading 1.4% Higher - Should You Buy?

Key Points

• Wheaton Precious Metals shares rose by 1.4% on Thursday, trading between GBX 7,560 ($101.67) and GBX 7,434.32 ($99.98), with a significant decline in trading volume.
• Berenberg Bank upgraded the price target for Wheaton Precious Metals from GBX 6,800 ($91.45) to GBX 7,200 ($96.83) while maintaining a "buy" rating.
• The company boasts a market capitalization of £42.45 billion and offers a lower risk profile compared to traditional mining firms through its precious metals streaming business model.

Shares of Wheaton Precious Metals Corp. (LON:WPM - Get Free Report) rose 1.4% during mid-day trading on Thursday . The company traded as high as GBX 7,560 ($101.68) and last traded at GBX 7,434.32 ($99.99). Approximately 1,500 shares traded hands during trading, a decline of 53% from the average daily volume of 3,212 shares. The stock had previously closed at GBX 7,330 ($98.59).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank upped their price objective on shares of Wheaton Precious Metals from GBX 6,800 ($91.46) to GBX 7,200 ($96.84) and gave the stock a "buy" rating in a research report on Wednesday, July 2nd.

Wheaton Precious Metals Trading Up 3.5%

The stock's 50-day moving average is GBX 6,777.73 and its 200-day moving average is GBX 6,118.94. The firm has a market capitalization of £42.59 billion, a price-to-earnings ratio of 69.88 and a beta of 0.70.

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.