Wheaton Precious Metals: this royalty stock makes good sense for more conservative accounts looking to have exposure to the precious metals sector.
Under the terms of long-term contracts, the company purchases silver and gold from a variety of mines, including Goldcorp’s Penasquito mine in Mexico, Vale’s Salobo mine in Brazil, the Lundin Mining Zinkgruvan mine in Sweden, and Glencore’s Antamina and Yauliyacu mines in Peru, then sells the silver and gold into the open market.
Shareholders receive a 0.76% dividend.
Wheaton broke out on 9 April at 31.98 and confirmed on 20 August at 52.48.
The Support is now strong at 52.49, the resistance light through 60, and nothing higher.
Most Key technical indicators are Very Bullish, my analysis is Bullish across the board signaling a Buy rating.
My price target is now 76.60, up from 47.00. The consensus target is 55.33, and Wheaton Precious Metals stock finished at 52.48 Thursday in NY.
Wheaton Precious Metals Corp. was founded in Y 2004 and is HQ’d in Vancouver, Canada.
Have a healthy weekend, Keep the Faith!
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