Wheaton Precious Metals (NYSE:WPM) Reaches New 12-Month High – Still a Buy?

Wheaton Precious Metals Corp. (NYSE:WPM) shares hit a new 52-week high on Wednesday . The company traded as high as $70.45 and last traded at $70.31, with a volume of 205743 shares trading hands. The stock had previously closed at $68.94.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on WPM shares. TD Securities increased their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a report on Friday, November 8th. Stifel Canada raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Finally, UBS Group initiated coverage on Wheaton Precious Metals in a research report on Monday, November 18th. They issued a “buy” rating and a $78.00 target price on the stock. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $71.67.

Wheaton Precious Metals Price Performance

The company has a 50-day moving average of $61.25 and a two-hundred day moving average of $61.76. The company has a market capitalization of $31.97 billion, a PE ratio of 52.66, a P/E/G ratio of 1.91 and a beta of 0.77.

Institutional Trading of Wheaton Precious Metals

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in Wheaton Precious Metals by 4.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 955,540 shares of the company’s stock worth $58,422,000 after buying an additional 36,970 shares during the period. Swiss National Bank lifted its position in shares of Wheaton Precious Metals by 0.8% in the third quarter. Swiss National Bank now owns 1,370,800 shares of the company’s stock valued at $83,854,000 after acquiring an additional 10,600 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Wheaton Precious Metals in the third quarter worth about $1,287,000. CWA Asset Management Group LLC boosted its stake in shares of Wheaton Precious Metals by 19.7% in the fourth quarter. CWA Asset Management Group LLC now owns 163,514 shares of the company’s stock worth $9,196,000 after acquiring an additional 26,924 shares during the period. Finally, King Luther Capital Management Corp raised its stake in Wheaton Precious Metals by 48.1% during the 3rd quarter. King Luther Capital Management Corp now owns 1,501,037 shares of the company’s stock valued at $91,683,000 after purchasing an additional 487,190 shares during the period. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.