In a report released yesterday, David Hove from Jefferies maintained a Buy rating on Wheaton Precious Metals (WPM – Research Report), with a price target of $79.00.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
David Hove has given his Buy rating due to a combination of factors related to Wheaton Precious Metals’ production forecasts and growth potential. The company demonstrated strong production results in Q4, surpassing expectations across all metals, which enhances its position among peers. Although the 2025 production guidance was slightly below estimates, the long-term forecast from 2030 to 2034 is notably positive, projecting an average annual production that exceeds previous expectations and implies substantial growth from 2024 levels.
Wheaton Precious Metals’ strategic development projects and stable production profiles contribute to its promising outlook. The anticipated increase in production is supported by higher silver grades and the commencement of key projects like Blackwater, Platreef, and Goose. While there are expected reductions in output from some sites in 2025, the overall long-term growth trajectory is encouraging, bolstered by a favorable pricing environment for gold and silver. These factors collectively underpin David Hove’s confidence in the company’s future performance, justifying the Buy rating.
In another report released today, Bank of America Securities also maintained a Buy rating on the stock with a $77.00 price target.