Silver Wheaton Takes a Hit

By Doug Ehrman – Apr 15, 2013 at 11:59AM

NYSE: WPM

Wheaton Precious Metals

Market Cap

$23B

Today's Change

(1.15%) $0.59

Current Price

$52.11

Price as of April 23, 2024, 10:57 a.m. ET

The slide in gold prices helped to pull down Silver Wheaton at the end of last week.

As gold prices tumbled during Friday's trading session, precious metals companies were dragged down too, including Goldcorp (GG) and the gold ETF, the SPDR Gold Trust (GLD -0.50%). Given its recent increase in exposure to gold, Silver Wheaton's (WPM 1.15%) inability to escape the slide is not a big surprise. Despite increased signs of global economic instability, gold fell below $1500 for the first time since July 2011.

In the below video, Fool.com contributor Doug Ehrman discusses the impact of gold prices on the stock, both in the immediate-term and longer-term investment perspective. Silver Wheaton remains one of the strongest plays in the silver market, but recent price action should not be overlooked.

Motley Fool contributor Doug Ehrman has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.