Wheaton Precious Metals stock The stock (NYSE.WPM) has experienced a significant increase of 15% in the last month (around 21 days), outperforming the wider markets. These gains can be attributed to several factors. First, the gold price rose by almost 4% in the last month to $1,785 an ounce, which helped Wheaton’s revenue outlook. The sentiment appears to have improved for precious metals in general, following the U.S. Federal Reserve’s comments that it could ease the pace of rate hikes with inflation showing some signs of cooling. The market expected that the Fed would moderate the rate increase to 50 basis points at its next meeting on December 14, despite the fact that the most recent four interest rate increases were 75 basis points. Separately, Wheaton’s Q3 2022 results, which were published in early November, were also largely in line with expectations, and this has also helped the stock.
WPM stock has experienced a 15% gain over the past month. Will it continue this upward trend in the short term or will it begin to decline? Looking at historical performance, it appears that WPM stock has had a rise of about 15% over the last month. A 55% chance exists for Wheaton stock to rise the following month. Wheaton Precious Metals’ (WPM) stock has seen 262 instances of a 21-day increase of 15% or greater in the last 10 year. WPM stock rose over the next one-month period (21 days). This historical pattern shows 145 of 262, which is about 55% of the chance of Wheaton Precious Metals stock rising over the next month. Check out our analysis. Wheaton Stock Chance of A Rise for more details.
Calculation of ‘Event Probability’ and ‘Chance of Rise’ using the last ten years data
- The stock moved 1% or more in five days. However, it rose 52% in five days.
- Stock rose by 50% on the occasion of 50% of the occasions after moving 3.2% or greater over ten consecutive days
- Stock rose by at least 15% within a period of twenty-one consecutive days. The stock also rose on 55% occasions in the next twenty one days.
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| Returns | Dec 2022 MTD [1] |
2022 YTD [1] |
2017-22 Total [2] |
| WPM Return | 1% | -8% | 104% |
| S&P 500 Return | -4% | -17% | 76% |
| Trefis Multi-Strategy Portfolio | -4% | -21% | 214% |
[1] Month-to date and year-to – as of 12/8/2022
[2] Cumulative total return since the end 2016
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These views and opinions are solely the opinions of the author. They do not necessarily reflect the views of Nasdaq, Inc.