10 Best Silver Mining Stocks to Buy Right Now

5) Wheaton Precious Metals Corp. (NYSE:WPM)

Average Upside Potential: 23.1%

Number of Hedge Fund Holders: 23

Wheaton Precious Metals Corp. (NYSE:WPM) is primarily engaged in selling precious metals in North America, Europe, and South America. The company produces and sells gold, silver, palladium, and cobalt deposits.

Wheaton Precious Metals Corp. (NYSE:WPM) announced that its wholly-owned subsidiary, Wheaton Precious Metals International Ltd., entered into a definitive Precious Metals Purchase Agreement with Montage Gold Corp. with respect to its Koné Gold Project located in Côte d’Ivoire. Wall Street analysts are optimistic about 2 accretive, precious metals streaming agreements, which include a new stream on Montage’s Koné Project and an amendment to the existing stream on Rio2’s Fenix Project.

Together, these transactions are expected to further diversify strategic partnerships and the portfolio’s geography. Once ramped up, the Koné Project is expected to contribute meaningful near-term production, reinforcing Wheaton Precious Metals Corp. (NYSE:WPM)’s already prominent position as a leader in the sector’s growth landscape.

As per Wall Street analysts, the shares of Wheaton Precious Metals Corp. (NYSE:WPM) have an average price target of $75.00.