WHEATON PRECIOUS METALS CORP (NYSE:WPM) – A High-Growth Momentum Stock with Strong Technical Setup

WHEATON PRECIOUS METALS CORP (NYSE:WPM) stands out as a high-growth momentum candidate with a solid technical foundation. The company, a leader in precious metals streaming, has demonstrated strong earnings and revenue growth while also presenting a favorable chart pattern for potential breakout traders.

Growth Momentum Highlights

• Earnings Growth: WPM reported a 52.9% year-over-year EPS growth in the most recent quarter, with next quarter estimates pointing to a further 61.2% increase.
• Revenue Expansion: Sales grew 58.5% in the latest quarter, with full-year revenue up 32.8%.
• Profit Margins: Quarterly profit margins improved to 54%, up from 23.2% in the prior quarter.
• Free Cash Flow: FCF per share surged 69.1% over the past year, reflecting strong operational performance.
• Analyst Revisions: EPS estimates for next year have been revised upward by 11.2%, signaling confidence in future growth.

Technical Strength & Setup

WPM scores a perfect 10 out of 10 in ChartMill’s Technical Rating, indicating a strong uptrend across short and long-term timeframes. Key technical observations include:

• Trend Strength: Both short-term and long-term trends are positive, with the stock outperforming 86% of the market over the past year.
• Support Levels: Multiple support zones exist between $85.70 and $89.98, providing a cushion against pullbacks.
• Consolidation Pattern: The stock has been trading in a tight range ($85.59 - $92.76) recently, reducing volatility and setting up for a potential breakout above $92.76 resistance.

The combination of accelerating fundamentals and a well-defined technical setup makes WPM an interesting candidate for momentum investors.

For a deeper technical breakdown, review the full technical report here.

Our High Growth Momentum Breakout Setups Screen lists more stocks with similar growth and technical characteristics.

Disclaimer

This is not investment advice. The observations here are based on data at the time of writing, and market conditions can change. Always conduct your own research before making investment decisions.