Wheaton Precious Metals Corp. (WPM) Soars 6.53% to Record High on Analyst Upgrade

Wheaton Precious Metals Corp. (WPM) surged to a record high today, with an intraday gain of 6.53%.

Analysts at Raymond James have raised their price target for WPM from $75 to $88, indicating a favorable outlook. This increase in the price target reflects the analysts' confidence in the company's future performance and potential for growth.

WPM has significantly outperformed the Canadian Metals and Mining industry and the broader Canadian market over the past year, with a 59.9% return compared to the industry’s 12.5% and the market’s 1.2%. This strong performance has attracted investors and contributed to the recent surge in the stock price.

WPM has declared a first-quarter cash dividend, payable on or about April 11, 2025. This dividend announcement is likely to attract income-focused investors, further boosting the stock's appeal and potentially driving up its price.