Wheaton Precious Metals Corp. WPM was a big mover last session, as the company saw its shares rise more than 14% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $15.32 to $16.65 in the past one-month time frame.
The stock gained following news that the company has reached a settlement with the Canada Revenue Agency (CRA) regarding income generated by its fully-owned foreign subsidiaries outside Canada.
The company has seen two negative estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
Wheaton Precious Metals currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
Wheaton Precious Metals Corp. Price
Wheaton Precious Metals Corp. Price | Wheaton Precious Metals Corp. Quote
A better-ranked stock in the Mining- Miscellaneous industry is Cameco Corporation CCJ, which currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Is WPM going up? Or down? Predict to see what others think: Up or Down
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Cameco Corporation (CCJ) : Free Stock Analysis Report
Silver Wheaton Corp (WPM) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research