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Wheaton Precious Metals (WPM) Receives a Hold from Credit Suisse

Credit Suisse analyst Fahad Tariq maintained a Hold rating on Wheaton Precious Metals (WPMResearch Report) today and set a price target of C$50.00. The company’s shares opened today at $36.54.

According to TipRanks, Tariq is a 4-star analyst with an average return of 11.1% and a 58.73% success rate. Tariq covers the Basic Materials sector, focusing on stocks such as Hudbay Minerals, Wheaton Precious Metals, and Centerra Gold.

Currently, the analyst consensus on Wheaton Precious Metals is a Strong Buy with an average price target of $44.72.

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Based on Wheaton Precious Metals’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $302.92 million and a net profit of $149.07 million. In comparison, last year the company earned a revenue of $330.39 million and had a net profit of $166.12 million

Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of WPM in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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