Wheaton Precious Metals (WPM-T)

This pick is for the person who doesn't currently own anything in the space, or who is a more conservative long-term investor. By far the strongest theme in the market. He believes we're the first year into a multi-year bull market in gold, with pullbacks. 

In safe jurisdictions, collecting royalty fees. Great dividend growth. About 60% gold, 40% silver. No debt. Yield is 0.82%.

Stable, long-term cashflow. Zero debt and huge line of credit give it lots of flexibility to grow. Sees a 6.5% increase in dividend. Big projects are moving forward. Sees 4-5% upside, but she has been trimming to rebalance.

Gold is almost like an insurance policy. Good diversifier. Should be a good, long-term hedge. Deposits have become harder to find. 

He prefers the business model of the royalty companies like FNV or WPM. As well, they operate counter-cyclically -- give money when gold prices are low and harvest when prices are high. Always looks expensive, but it's expensive for a reason.

From a trade perspective, a bit overbought. He's a trader at heart, and buys into dips. If you're a bull, by all means keep holding. But he took some $$ off the table.

Likes both gold and silver here. Gold and silver equities and exposure to them are very undervalued relative to long-term trends; analysts tell him it's likely going to stay that way for a while. The market just doesn't believe that gold and silver prices are going to remain elevated. 

Unsure on whether stock will rise in commodity price increase. Would wait before buying. Overall, is heading in the right direction. Would wait before more strength before buying. 

Excellent company for gold exposure. Ranks 9/10 for portfolio. Bullish on gold outlook. Excellent fundamentals. Will continue to buy and hold. 

It's been sideways for a few years, but finding support at current levels. He sees lots of upside. He's been buying in three tranches. But if it doesn't rise, he will sell it. 

It should at least return to previous highs around $61, but possibly $70 if gold continues to do well.

World's premier precious metals company.
Less risk thank traditional mining companies.
High margins & diversified business.
Expecting gold prices to rise with weak US Dollar & lower interest rates. 

World's best precious metals company.
Leverage to mining upside.
Very positive view on high quality asset class.
$69 price target on share price.
Expecting further growth.
Gold is a safe haven against interest rate hikes.
High exposure to silver which is used in EV manufacturing.

He bought them a long time ago and sold with profit. They would be in the same class as Franco-Nevada. WPM is not going to finance anymore. The cashflow is what it is and there will be little upside since it is a royalty company. He would prefer Franco-Nevada. He would look elsewhere where you can get appreciation.