UBS identifies significant upside potential in gold stocks despite a recent price correction, suggesting an anti-cyclical buying opportunity. Wheaton Precious Metals is projected to have a 24% upside, while Franco-Nevada is seen as having a 32% upside, following declines of 7.5% and nearly 10% respectively last month. Both companies operate in the streaming sector, with Franco-Nevada also benefiting from its licensing business.
Wheaton Precious Metals (TSE:WPM) has received a "strong-buy" rating from UBS Group, with several analysts raising their price targets, now averaging C$97.67. The stock opened at C$87.40, having a 12-month range of C$52.15 to C$94.84, and a market cap of C$39.65 billion. Despite its positive ratings, it was noted that top analysts recommend other stocks over Wheaton Precious Metals.
UBS analyst Daniel Major highlights two gold stocks with significant upside potential: Franco-Nevada (FNV) and Wheaton Precious Metals (WPM). FNV, focused on streaming and royalties, faces challenges but has a 32% upside target, while WPM, a leading streaming company, is projected to grow production by 40% by 2028, with a 24.5% upside forecast.
UBS has initiated coverage of Wheaton Precious Metals Corp. with a "buy" rating and a price target of USD 78. The analysis includes a note on potential conflicts of interest as per EU regulations, which can be reviewed on the analyst firm"s website.
Wheaton Precious Metals Corp, a Canadian precious metals streaming company, has established 38 long-term agreements with 32 mining companies, securing a share of future production across 18 operating mines and various development projects in 16 countries. Its portfolio includes interests in gold and silver streams from notable mines such as Salobo, Sudbury, and Penasquito.
Wheaton Precious Metals Corp., a Canadian precious metal streaming company, maintains a buy recommendation from UBS. The company has 38 long-term agreements with 32 mining companies, covering 18 operating mines and various development projects, including interests in gold and silver from notable sites like Salobo and Penasquito.
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