Canaccord Genuity analyst Carey MacRury maintained a Buy rating on Wheaton Precious Metals (WPM) on August 13 and set a price target of C$87.00. The company’s shares closed last Thursday at $52.48, close to its 52-week high of $57.89.
According to TipRanks.com, MacRury is a top 100 analyst with an average return of 28.6% and a 81.2% success rate. MacRury covers the Basic Materials sector, focusing on stocks such as Osisko Gold Royalties, Kirkland Lake Gold, and Newmont Mining.
Currently, the analyst consensus on Wheaton Precious Metals is a Moderate Buy with an average price target of $54.90, which is a 7.3% upside from current levels. In a report issued on August 5, Merrill Lynch also maintained a Buy rating on the stock with a $64.50 price target.
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The company has a one-year high of $57.89 and a one-year low of $18.66. Currently, Wheaton Precious Metals has an average volume of 2.63M.
Based on the recent corporate insider activity of 79 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of WPM in relation to earlier this year.
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Wheaton Precious Metals Corp. is a mining company, which engages in the sale of precious metals and cobalt production. It operates through the following segments: Gold, Silver, Palladium, Cobalt, and Other. It focuses on the following precious metals streams: Salobo, Peñasquito, Antamina, Constancia, Stillwater, San Dimas, Sudhury, Zinkgruvan, Yauliyacu, Neves-Corvo, Pascua-Lama, Rosemont, Voisey’s Bay, and others. The company was founded by Peter Derek Barnes on December 17, 2004 and is headquartered in Vancouver, Canada.
