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New Buy Rating for Wheaton Precious Metals (WPM), the Basic Materials Giant

Tipranks - Tipranks - Tue Jul 28, 8:54PM CDT

In a report released yesterday, Josh Wolfson from RBC Capital maintained a Buy rating on Wheaton Precious Metals, with a price target of $160.00.

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Wolfson covers the Basic Materials sector, focusing on stocks such as Triple Flag Precious Metals, Agnico Eagle, and Royal Gold. According to TipRanks, Wolfson has an average return of 18.2% and a 58.56% success rate on recommended stocks.

In addition to RBC Capital, Wheaton Precious Metals also received a Buy from Bank of America Securities’s Lawson Winder in a report issued on July 9. However, on July 14, Scotiabank maintained a Hold rating on Wheaton Precious Metals (NYSE: WPM).

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Based on Wheaton Precious Metals’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of C$886.69 million and a net profit of C$572.5 million. In comparison, last year the company earned a revenue of C$470.41 million and had a net profit of C$253.98 million

Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is neutral on the stock.

Read More on WPM:

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