BMO Resumes Coverage of Wheaton Precious Metals with an Outperform Rating, C$240 Price Target

BMO Capital Markets on Thursday resumed coverage of Wheaton Precious Metals (WPM.TO, WPM) with an outperform rating on the shares and C$240 price target.The rating and price target were based on 2.8x P/NAV and 28x P/CF (NTM) multiples, weighted 50/50%.BMO said it resumed coverage of WPM following a period of research restriction after the closure of the Antamina stream acquisition from BHP."We see the WPM portfolio as offering significant scale, growth, and cash flow," BMO said. "WPM is well positioned vs. the miners in the event of sustained energy cost inflation and with the stock down 14% from its highs, WPM is trading at its highest forward free cash flow yield in years."We resume coverage of WPM following a period of research restriction after the closure of the Antamina stream acquisition from BHP.Price: $195.07, Change: $+0.93, Percent Change: +0.48%

-- BMO Capital Markets on Thursday resumed coverage of Wheaton Precious Metals (WPM.TO, WPM) with an outperform rating on the shares and C$240 price target.

The rating and price target were based on 2.8x P/NAV and 28x P/CF (NTM) multiples, weighted 50/50%.

BMO said it resumed coverage of WPM following a period of research restriction after the closure of the Antamina stream acquisition from BHP.

"We see the WPM portfolio as offering significant scale, growth, and cash flow," BMO said. "WPM is well positioned vs. the miners in the event of sustained energy cost inflation and with the stock down 14% from its highs, WPM is trading at its highest forward free cash flow yield in years."

We resume coverage of WPM following a period of research restriction after the closure of the Antamina stream acquisition from BHP.

Price: $195.07, Change: $+0.93, Percent Change: +0.48%