Wheaton Precious Metals (WPM): New Buy Recommendation for This Basic Materials Giant

In a report released today, Lawson Winder from Bank of America Securities maintained a Buy rating on Wheaton Precious Metals (WPM – Research Report). The company’s shares opened today at $65.81.

Winder covers the Basic Materials sector, focusing on stocks such as Newmont Mining, Wheaton Precious Metals, and IAMGOLD. According to TipRanks, Winder has an average return of 5.3% and a 54.82% success rate on recommended stocks.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Wheaton Precious Metals with a $71.75 average price target, a 9.03% upside from current levels. In a report released on October 25, Raymond James also maintained a Buy rating on the stock with a $75.00 price target.

Based on Wheaton Precious Metals’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $299.06 million and a net profit of $122.32 million. In comparison, last year the company earned a revenue of $264.97 million and had a net profit of $142.12 million

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Wheaton Precious Metals (WPM) Company Description:

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.