Raymond James analyst Brian MacArthur raised the firm’s price target on Wheaton Precious Metals (WPM) to $88 from $75 and keeps an Outperform rating on the shares. The firm updated its commodity price forecasts for the precious and base metals complex. It increased gold and silver price estimates in the near and long term to reflect the strong year-to-date performance, sector demand at higher than historical levels, and continued political uncertainty. Long-term price forecasts were increased on higher reserve and resource pricing driving higher operating costs and incentive pricing, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WPM:
- Wheaton Precious Metals price target raised to $80 from $75 at RBC Capital
- Wheaton Precious Metals price target raised to 6,900 GBp at Berenberg
- Wheaton Precious Metals price target raised to C$130 at National Bank
- Wheaton Precious Metals Announces Filing of Form 40-F and Upcoming Shareholder Meeting
- February PCE Report: Inflation Comes in Hotter Than Expected