Wheaton Precious Metals upgraded to Buy after 26% drop, strong fundamentals support rebound.

Wheaton Precious Metals (WPM) stock has fallen 26% since February, mainly due to gold miners' price drops amid geopolitical tensions like the US-Iran war. Despite this, WPM has been upgraded to a Buy rating because of its strong production outlook, improved earnings forecast, and a forward price-to-earnings ratio well below its five-year average. While there is some risk that gold price assumptions might be too optimistic, the current fundamentals strongly favor WPM as an attractive investment opportunity.