Bank of America Securities analyst Lawson Winder maintained a Buy rating on Wheaton Precious Metals yesterday and set a price target of $127.00.
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Lawson Winder has given his Buy rating due to a combination of factors related to the Blackwater mine’s potential impact on Wheaton Precious Metals. The Blackwater mine, operated by Artemis Gold and located in British Columbia, is a significant asset for Wheaton Precious Metals, which holds a precious metals stream on the mine. This stream entitles Wheaton to a portion of the mine’s gold and silver production, contributing to its net asset value and projected revenue growth.
Winder highlights the expected increase in gold equivalent ounce volume from the mine, driven by planned expansions and increased processing throughput. The mine’s long life, low costs, and favorable location in a top-tier jurisdiction further enhance its attractiveness. These factors, combined with the mine’s potential for substantial exploration upside, position Wheaton Precious Metals as a growth leader in the royalty and streaming sector, justifying the Buy rating.
In another report released yesterday, Berenberg Bank also maintained a Buy rating on the stock with a p9,600.00 price target.
Based on the recent corporate insider activity of 21 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.