Wheaton Precious Metals (NYSE:WPM) Sets New 12-Month High – What’s Next?

Wheaton Precious Metals Corp. (NYSE:WPM) shares reached a new 52-week high on Wednesday . The stock traded as high as $71.01 and last traded at $70.94, with a volume of 1817438 shares. The stock had previously closed at $69.00.

Wall Street Analysts Forecast Growth

WPM has been the topic of a number of recent research reports. TD Securities raised their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, November 8th. UBS Group assumed coverage on Wheaton Precious Metals in a research note on Monday, November 18th. They issued a “buy” rating and a $78.00 price objective for the company. Finally, Stifel Canada raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Wheaton Precious Metals currently has a consensus rating of “Buy” and a consensus price target of $71.67.

Wheaton Precious Metals Price Performance

The company has a market cap of $31.99 billion, a PE ratio of 52.63, a price-to-earnings-growth ratio of 1.91 and a beta of 0.76. The company has a fifty day moving average price of $62.96 and a 200 day moving average price of $62.27.

Hedge Funds Weigh In On Wheaton Precious Metals

Large investors have recently bought and sold shares of the stock. US Bancorp DE raised its position in shares of Wheaton Precious Metals by 4.2% in the 3rd quarter. US Bancorp DE now owns 7,167 shares of the company’s stock worth $438,000 after acquiring an additional 290 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Wheaton Precious Metals by 31.0% in the third quarter. Farther Finance Advisors LLC now owns 1,825 shares of the company’s stock worth $111,000 after purchasing an additional 432 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Wheaton Precious Metals by 3.5% in the 3rd quarter. Janney Montgomery Scott LLC now owns 37,639 shares of the company’s stock worth $2,299,000 after buying an additional 1,273 shares during the last quarter. United Advisor Group LLC grew its stake in shares of Wheaton Precious Metals by 4.6% during the 3rd quarter. United Advisor Group LLC now owns 5,036 shares of the company’s stock valued at $308,000 after purchasing an additional 221 shares during the period. Finally, Principal Financial Group Inc. grew its position in Wheaton Precious Metals by 1.0% during the third quarter. Principal Financial Group Inc. now owns 19,761 shares of the company’s stock valued at $1,208,000 after buying an additional 196 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.