On October 9, Wheaton Precious Metals rose 3.11% in regular trading, reaching $139.16 per share, with turnover of approximately $17.69 million. The primary catalyst was UBS raising its price target on the stock from $153 to $160 while maintaining a Buy rating.
The analyst action comes shortly after the company's latest quarterly results, where adjusted EPS of $1.19 and revenue of $929.2 million both missed consensus estimates, triggering selling pressure earlier in the week. Despite the earnings miss, UBS's upward target revision reflects continued confidence in the streaming model, which provides stable cash flows through long-term precious metals purchase agreements. The stock's recovery follows several prior target adjustments, including a cut by Berenberg to $157 and by Bank of America to $145, suggesting the latest UBS move is viewed as a positive signal amid sector-wide strength, with peers such as Gold Fields and Coeur Mining also advancing over 3%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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