Wheaton Precious Metals (NYSE:WPM) Hits New 12-Month High – Should You Buy?

Wheaton Precious Metals Corp. (NYSE:WPM)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $72.00 and last traded at $71.16, with a volume of 1813557 shares trading hands. The stock had previously closed at $69.70.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Stifel Canada raised shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. UBS Group assumed coverage on Wheaton Precious Metals in a report on Monday, November 18th. They issued a “buy” rating and a $78.00 target price for the company. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Wheaton Precious Metals currently has an average rating of “Buy” and a consensus target price of $71.67.

Wheaton Precious Metals Price Performance

The firm’s 50 day moving average price is $63.80 and its two-hundred day moving average price is $62.47. The firm has a market cap of $32.28 billion, a price-to-earnings ratio of 53.10, 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 have recently added to or reduced their stakes in the stock. Comprehensive Money Management Services LLC acquired a new position in shares of Wheaton Precious Metals in the fourth quarter valued at approximately $1,063,000. Total Wealth Planning & Management Inc. acquired a new position in Wheaton Precious Metals in the 4th quarter valued at $244,000. Employees Retirement System of Texas purchased a new position in Wheaton Precious Metals during the fourth quarter worth about $780,000. Leigh Baldwin & CO. LLC purchased a new position in Wheaton Precious Metals in the fourth quarter worth $232,000. Finally, Mackenzie Financial Corp lifted its holdings in Wheaton Precious Metals by 54.4% in the fourth quarter. Mackenzie Financial Corp now owns 3,223,154 shares of the company’s stock valued at $181,227,000 after acquiring an additional 1,135,699 shares during the period. 70.34% of the stock is owned by institutional investors and hedge funds.

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.