(WPM) Wheaton Precious Metals - Ratings and Ratios

Wheaton Precious Metals Corp (NYSE:WPM) is a leading global precious metals streaming company with a diverse portfolio of assets across North America, Europe, Africa, and South America. The company generates revenue primarily through the sale of gold, silver, palladium, platinum, and cobalt. With a strong track record of growth, WPM was founded in 2004 and rebranded from Silver Wheaton Corp in May 2017, reflecting its expanded precious metals portfolio.

From a business perspective, WPMs streaming model allows it to provide upfront capital to mining companies in exchange for a percentage of the precious metals produced, thereby providing a stable source of revenue with minimal operating costs. This model has enabled WPM to build a diversified portfolio of high-quality assets with a range of counterparties, reducing its reliance on any single mine or commodity.

Analyzing the data, we can see that WPMs stock has established key support levels at $85.6, $80.9, and $76.1, with resistance at $100.0. Given the current price of $91.83, we can infer that the stock is testing the upper end of its recent trading range. Using the , we can observe that the stocks SMA20 and SMA50 are trending upwards, indicating a positive short-term momentum. Furthermore, the ATR of 2.62 (2.86%) suggests moderate volatility.

Combining the and , we can forecast that WPMs stock is likely to continue its upward trend, driven by its strong fundamental profile and improving technical momentum. With a market cap of $39.057 billion and a forward P/E of 40.00, WPM is expected to benefit from the growing demand for precious metals, particularly gold and silver, as a hedge against inflation and market volatility. Our forecast suggests that WPMs stock may reach the resistance level of $100.0 in the near term, with potential for further upside if the companys growth trajectory continues.

Based on the analysis, a potential trading strategy could involve buying WPMs stock on dips towards the support levels, with a target price of $100.0 and a stop-loss below $85.6. However, this strategy would require ongoing monitoring of the stocks price action and adjustments to the forecast as new data becomes available.