Wheaton Precious Metals Corp [NYSE: WPM] stock went on a downward path that fall over -7.87% on Wednesday, amounting to a one-week price decrease of less than -5.87%. The company report on February 20, 2024 at 7:31 PM that Wheaton Precious Metals Announces 2023 Production and Sales Results and Forecasts 40% Growth in the Next Five Years.
“In 2023, the importance of our diversified portfolio of high-quality, low-cost assets was underscored by Wheaton’s ability to meet its annual production guidance, well within the projected range for the year, as strong outperformances by Salobo and Constancia offset headwinds faced by other assets. Moreover, in 2023, we expanded our portfolio by securing agreements for eight development assets, further enhancing our production profile and contributing to our five-year growth profile of 40%,” said Randy Smallwood, President and Chief Executive Officer of Wheaton Precious Metals. “While our projected 2024 production is consistent with levels attained in 2023, we anticipate growth in the near-term as several assets are slated to commence operations by year-end, with the expanded range in our 2024 guidance accommodating the typical variability associated with development project ramp-ups.
As the premier streaming company with the highest proportion of revenue stemming from precious metals, we consider Wheaton to be the best investment vehicle available to gain long term exposure to precious metals. In addition, with the strength of our balance sheet combined with the demand for streaming capital, we believe Wheaton is strategically positioned to further enhance its industry-leading growth profile.”.
Over the last 12 months, WPM stock dropped by -3.64%. The one-year Wheaton Precious Metals Corp stock forecast points to a potential upside of 28.34. The average equity rating for WPM stock is currently 1.50, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $18.46 billion, with 453.00 million shares outstanding and 452.34 million shares in the current float. Compared to the average trading volume of 1.79M shares, WPM stock reached a trading volume of 6044222 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Wheaton Precious Metals Corp [WPM]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WPM shares is $56.85 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WPM stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
TD Securities have made an estimate for Wheaton Precious Metals Corp shares, keeping their opinion on the stock as Hold, with their previous recommendation back on February 21, 2024. The new note on the price target was released on February 21, 2024, representing the official price target for Wheaton Precious Metals Corp stock. Previously, the target price had yet another raise to $45, while RBC Capital Mkts analysts kept a Sector Perform rating on WPM stock.
The Average True Range (ATR) for Wheaton Precious Metals Corp is set at 1.41, with the Price to Sales ratio for WPM stock in the period of the last 12 months amounting to 19.66. The Price to Book ratio for the last quarter was 2.70, with the Price to Cash per share for the same quarter was set at 1.84. Price to Free Cash Flow for WPM in the course of the last twelve months was 44.87 with Quick ratio for the last quarter at 38.82.
WPM Stock Performance Analysis:
Wheaton Precious Metals Corp [WPM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.87. With this latest performance, WPM shares dropped by -11.65% in over the last four-week period, additionally sinking by -1.33% over the last 6 months – not to mention a drop of -3.64% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WPM stock in for the last two-week period is set at 27.00, with the RSI for the last a single of trading hit 21.33, and the three-weeks RSI is set at 31.73 for Wheaton Precious Metals Corp [WPM]. The present Moving Average for the last 50 days of trading for this stock 47.19, while it was recorded at 43.38 for the last single week of trading, and 44.96 for the last 200 days.
Insight into Wheaton Precious Metals Corp Fundamentals:
Wheaton Precious Metals Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 38.82 and a Current Ratio set at 38.93.
WPM Stock EPS
With the latest financial reports released by the company, Wheaton Precious Metals Corp posted 0.23/share EPS, while the average EPS was predicted by analysts to be reported at 0.25/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -8.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for WPM. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Wheaton Precious Metals Corp go to 4.90%.
Wheaton Precious Metals Corp [WPM] Institutonal Ownership Details
The top three institutional holders of WPM stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in WPM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in WPM stock with ownership which is approximately 5.8325%.
