Wheaton Precious Metals (TSE:WPM) Price Target Raised to C$172.00 at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group has raised its price target for Wheaton Precious Metals from C$144.00 to C$172.00, indicating a potential upside of 12.85% from the stock's previous close.
• Other analysts have also adjusted their ratings, with Peel Hunt increasing their target to C$161.00 and UBS Group downgrading from a "strong-buy" to a "hold."
• Wheaton Precious Metals currently has a market cap of C$69.19 billion and a price-to-earnings ratio of 87.79, indicating significant valuation in the precious metals market.

Wheaton Precious Metals (TSE:WPM - Get Free Report) had its price objective increased by equities research analysts at Canaccord Genuity Group from C$144.00 to C$172.00 in a report released on Thursday,BayStreet.CA reports. Canaccord Genuity Group's price objective points to a potential upside of 12.85% from the stock's previous close.

Several other equities analysts have also recently commented on the stock. Peel Hunt lifted their target price on shares of Wheaton Precious Metals from C$149.00 to C$161.00 and gave the stock a "buy" rating in a research report on Monday, September 8th. UBS Group lowered Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a report on Monday, August 11th. Finally, CIBC lifted their target price on Wheaton Precious Metals from C$125.00 to C$130.00 and gave the stock an "outperform" rating in a research note on Friday, September 12th. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of C$134.50.

Wheaton Precious Metals Price Performance

Shares of WPM stock traded down C$3.01 during trading hours on Thursday, reaching C$152.41. The company had a trading volume of 489,231 shares, compared to its average volume of 772,669. Wheaton Precious Metals has a 12 month low of C$79.88 and a 12 month high of C$158.88. The business has a fifty day simple moving average of C$138.48 and a 200-day simple moving average of C$124.22. The company has a market cap of C$69.19 billion, a price-to-earnings ratio of 87.79 and a beta of 0.70.

About Wheaton Precious Metals

Wheaton Precious Metals is one of the largest precious metals streaming companies in the world. The Company has entered into agreements to purchase all or a portion of the precious metals or cobalt production from high-quality mines for an upfront payment and an additional payment upon delivery of the metal.

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