RBC Capital Upgrades Wheaton Precious Metals (WPM) to Outperform

RBC Capital analyst Josh Wolfson upgraded Wheaton Precious Metals (NYSE: WPM) from Sector Perform to Outperform with a price target of $51.00.

The analyst comments "WPM operates a highly cash-generative business, backed by long-duration, low-cost assets. Recent share price weakness from lower precious metals prices has improved WPM’s valuation and we see anticipated catalysts at the company’s cornerstone Salobo stream having potential to support upside to our estimates. We upgrade the shares to Outperform from Sector Perform. Our updated forecasts include RBC’s revised cobalt price outlook."

For an analyst ratings summary and ratings history on Wheaton Precious Metals click here. For more ratings news on Wheaton Precious Metals click here.

Shares of Wheaton Precious Metals closed at $36.21 yesterday.

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