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

Tipranks - Wed Mar 4, 8:06PM CST

RBC Capital analyst Josh Wolfson maintained a Buy rating on Wheaton Precious Metals on March 2 and set a price target of $145.00. The company’s shares closed yesterday at C$226.64.

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According to TipRanks, Wolfson is a top 100 analyst with an average return of 29.6% and a 72.33% success rate. Wolfson covers the Basic Materials sector, focusing on stocks such as Royal Gold, Triple Flag Precious Metals, and Barrick Mining.

Currently, the analyst consensus on Wheaton Precious Metals is a Strong Buy with an average price target of $167.22, representing a -26.22% downside. In a report released on February 26, Bank of America Securities also maintained a Buy rating on the stock with a $188.00 price target.

Based on Wheaton Precious Metals’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of C$476.26 million and a net profit of C$367.22 million. In comparison, last year the company earned a revenue of C$308.25 million and had a net profit of C$154.64 million

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