Raymond James raised its price target on Wheaton Precious Metals Corp. (WPM.TO, WPM) to US$72 from US$70 on Wednesday.
Analyst Brian MacArthur maintained an Outperform rating on shares of the Vancouver-based precious metals streaming company following its Investor Day.
"For 2024, WPM continues to expect attributable production to be 325,000 to 370,000 ounces of gold, 18.5 to 20.5 million ounces of silver, and 12,000 to 15,000 GEOs of other metals, resulting in annual production of about 550,000 to 620,000 GEOs," MacArthur said in a note to clients.
"However, WPM expects production to grow to over 800,000 GEOs by 2028 (up about 40%) with about 80% of the growth from assets that are either operating, in construction, and/or permitted."
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