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Wheaton Precious MetalsWPM.TODON'T BUYJan 16, 2017Stock price when the opinion was issued
As of Jun 19, 2026. Market Open.
He bought them a long time ago and sold with profit. They would be in the same class as Franco-Nevada. WPM is not going to finance anymore. The cashflow is what it is and there will be little upside since it is a royalty company. He would prefer Franco-Nevada. He would look elsewhere where you can get appreciation.
He does not trade these stocks because they are volatile and don’t have traditional earnings. He thinks of them as defensives. They peaked in the summer. He would argue that they are tied to the path of interest rates in the future. You don’t need to own gold as much right now. They don’t have operating risk so have high PE. It is not attractive to him.