Image: Wheaton Precious Metals.
Overview
- Wheaton Precious Metals’ Q3 revenue reaches $476 million, driven by higher gold prices;
- Net earnings for Q3 hit record $367 million, reflecting strong operational performance;
- Company announces gold stream transaction on Hemlo mine, enhancing asset portfolio.
Outlook
- Wheaton maintains 2025 production guidance at 600,000 to 670,000 GEOs;
- Annual production forecast to increase by 40% to 870,000 GEOs by 2029.
Result drivers
- Production growth – Increased production led by stronger output at Salobo and Antamina mines;
- Sales volumes – A 12.5% YoY increase in gold-equivalent ounces sold to 137,563 GEOs contributed to top-line growth;
- Higher gold prices – Revenue increase driven by 37% YoY rise in average realized gold-equivalent price.
Analyst coverage
- The current average analyst rating on the shares is “buy” and the breakdown of recommendations is 10 “strong buy” or “buy”, 1 “hold” and 1 “sell” or “strong sell”;
- The average consensus recommendation for the gold peer group is “buy”;
- Wall Street’s median 12-month price target for Wheaton Precious Metals Corp is C$161.05, about 15.6% above its November 6 closing price of C$135.99;
- The stock recently traded at 35 times the next 12-month earnings vs. a P/E of 39 three months ago.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)