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

In a report released today, Lawson Winder from Bank of America Securities maintained a Buy rating on Wheaton Precious Metals, with a price target of $132.00. The company’s shares closed yesterday at $110.27.

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Winder covers the Basic Materials sector, focusing on stocks such as Newmont Mining, Barrick Mining, and Freeport-McMoRan. According to TipRanks, Winder has an average return of 19.8% and a 58.29% success rate on recommended stocks.

In addition to Bank of America Securities, Wheaton Precious Metals also received a Buy from Berenberg Bank’s Richard Hatch in a report issued on October 14. However, today, UBS maintained a Hold rating on Wheaton Precious Metals (NYSE: WPM).

The company has a one-year high of $114.01 and a one-year low of $55.47. Currently, Wheaton Precious Metals has an average volume of 2.09M.

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.