The Attractiveness of Investing In Wheaton Precious Metals Corp. (WPM) is Growing

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In the meantime, Goldman initiated its Wheaton Precious Metals Corp. [WPM] rating to a Buy in a research note published on Tuesday. A number of analysts have revised their coverage, including KeyBanc Capital Markets’s analysts, who began to cover the stock in late September with a ‘”an Overweight”‘ rating. RBC Capital Mkts also remained covering WPM and has increased its forecast on March 08, 2021 with a “an Outperform” recommendation from previously “Sector perform” rating. BMO Capital Markets revised its rating on March 08, 2021. It rated WPM as “an Outperform” which previously was an “a Market perform”.


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Price Performance Review of WPM

On Tuesday, Wheaton Precious Metals Corp. [NYSE:WPM] saw its stock jump 0.73% to $45.72. On the same session, the stock had its day’s lowest price of $41.33, but rose to a high of $45.785. Over the last five days, the stock has gained 3.74%. Wheaton Precious Metals Corp. shares have risen nearly 16.99% since the year began. Nevertheless, the stocks have risen 12.06% over the past one year. While a 52-week high of $51.90 was reached on 01/24/23, a 52-week low of $28.62 was recorded on 01/03/23. SMA at 50 days reached $40.26, while 200 days put it at $37.66. A total of 1.73 million shares were traded, compared to the trading of 2.5 million shares in the previous session.

Levels Of Support And Resistance For WPM Stock

The 24-hour chart illustrates a support level at 42.77, which if violated will result in even more drops to 39.82. On the upside, there is a resistance level at 47.23. A further resistance level may holdings at 48.73. The Relative Strength Index (RSI) on the 14-day chart is 73.12, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.53, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 1.35%. Stochastics %K at 99.05% indicates the stock is a selling.

How much short interest is there in Wheaton Precious Metals Corp.?

A steep rise in short interest was recorded in Wheaton Precious Metals Corp. stocks on Oct 13, 2022, growing by 0.51 million shares to a total of 16.66 million shares. Yahoo Finance data shows the prior-month short interest on Sep 14, 2022 was 16.15 million shares. There was a rise of 3.06%, which implies that there is a positive sentiment for the stock.

Wheaton Precious Metals Corp. [WPM] – Who Are The Largest Shareholders?

In filings from Capital Research & Management Co, it is revealed that the company now owns 30,746,463 shares, or roughly 6.80% of the outstanding WPM shares. In other words, the investor’s shares have risen by 3,784,499 from its previous 13-F filing of 26961964.0. Additionally, First Eagle Investment Management increased 13.92% of its stake after which the total value it holdings stand at $758,260,877, while Van Eck Associates Corp. added 1.45% of its stake to hold $745.66 million in the firm. Over the last quarter, The Vanguard Group, Inc. purchased 244,607 shares of Wheaton Precious Metals Corp., while Fidelity Management & Research Co bought -2,337,669 shares. At present, RBC Global Asset Management, Inc. is holding 7,077,994 shares valued at $276.61 million. Massachusetts Financial Services owned 6,766,392 shares of the company at the time of its most recent 13F filing, worth $264.43 million.

According to FactSet, Wheaton Precious Metals Corp.’s share price will average $48.90 in the next year, based on opinions of analysts polled by the firm. This is up nearly 9.23 percent from its previous closing price of $45.39. Analysts expect Wheaton Precious Metals Corp. stock to reach the higher price of $60.00, while the lowest price estimate is $40.00. However, 17 analysts have rated WPM stock as a Buy in their predictions for 2023. The most recent change occurred on March 04, 2021 when JP Morgan began covering the stock and recommended ‘”an Overweight”‘ rating along with a $56 price target.

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