Street Calls of the Week
Wheaton Precious Metals Corp has reached a significant milestone, as its stock has hit an all-time high of 112.13 USD, with analysts setting price targets ranging from $100.05 to $135. According to InvestingPro analysis, technical indicators suggest the stock is in overbought territory. This achievement reflects a substantial increase in the company’s market performance, with the stock experiencing a remarkable 83.1% increase over the past year and an impressive 97.61% gain year-to-date. The surge in Wheaton Precious Metals’ stock price, which has pushed its market capitalization to $50.91 billion, underscores the company’s robust growth, evidenced by its 46.79% revenue growth and strong liquidity position with a current ratio of 7.38. This all-time high marks a new chapter for the company, as it continues to capitalize on favorable market conditions and strategic initiatives. For deeper insights into WPM’s valuation and growth prospects, check out the comprehensive research report available on InvestingPro, which includes over 20 additional key insights.
In other recent news, Wheaton Precious Metals reported record second-quarter earnings, surpassing Visible Alpha consensus estimates by 7% for adjusted EPS and 15% for operating cash flows. The company achieved record revenue of $503 million, marking a 68% increase from the previous year, and operating cash flow of $415 million, a 77% rise compared to the same period last year. These strong results have led several financial firms to adjust their price targets for Wheaton Precious Metals. CFRA increased its price target to C$158.00, while maintaining a Buy rating, citing the company’s exceptional quarterly performance. Berenberg also raised its price target to C$78.00, highlighting the record earnings. Jefferies adjusted its price target to $114.00, emphasizing Wheaton’s high-quality and diversified asset base. Meanwhile, Scotiabank raised its price target to $109.00, noting the progress of development assets expected to contribute significantly to production this year. These developments reflect a positive outlook from analysts on Wheaton Precious Metals’ future performance.
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