Wheaton Precious Metals had its Relative Strength (RS) Rating upgraded from 70 to 76 Tuesday — a welcome improvement, but still short of the 80 or higher score you prefer to see.
IBD's unique RS Rating tracks technical performance by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains typically have an RS Rating north of 80 as they begin their largest price moves. See if Wheaton Precious Metals can continue to show renewed price strength and clear that threshold.
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While the stock is not near an ideal buy zone right now, see if it goes on to form and break out from a proper base.
Top and bottom line growth moved higher last quarter. Earnings were up 26%, compared to 6% in the prior report. Revenue increased from 13% to 38%.
Wheaton Precious Metals earns the No. 10 rank among its peers in the Mining-Gold/Silver/Gems industry group. Agnico-Eagle Mines, Alamos Gold and Eldorado Gold are among the top 5 highly rated stocks within the group.
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