Wheaton Precious Metals (TSE:WPM) Stock Rating Lowered by UBS Group

Key Points

• Wheaton Precious Metals was downgraded from a "strong-buy" rating to a "hold" rating by UBS Group.
• Despite the downgrade, the company has a consensus rating of "Buy" and a price target of C$110.86 according to MarketBeat data.
• The stock opened at C$134.30 on Monday, with a previous 12-month high of C$143.00 and a market capitalization of C$42.59 billion.

Wheaton Precious Metals (TSE:WPM - Get Free Report) was downgraded by stock analysts at UBS Group from a "strong-buy" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

Other analysts also recently issued research reports about the stock. Canaccord Genuity Group upped their price target on shares of Wheaton Precious Metals from C$131.00 to C$134.00 in a research report on Tuesday, June 10th. Stifel Nicolaus upped their price objective on shares of Wheaton Precious Metals from C$107.00 to C$141.00 in a research report on Monday, April 21st. Finally, BMO Capital Markets upgraded shares of Wheaton Precious Metals to a "strong-buy" rating in a research report on Tuesday, April 15th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Wheaton Precious Metals has a consensus rating of "Buy" and a consensus price target of C$110.86.

Wheaton Precious Metals Price Performance

WPM stock opened at C$134.30 on Monday. The company has a fifty day moving average price of C$125.42 and a 200 day moving average price of C$113.18. Wheaton Precious Metals has a 12 month low of C$77.08 and a 12 month high of C$143.00. The company has a market cap of C$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 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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