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Wheaton Precious Metals Corp. - WPM STOCK NEWS

Welcome to our dedicated page for Wheaton Precious Metals news (Ticker: WPM), a resource for investors and traders seeking the latest updates and insights on Wheaton Precious Metals stock.

Founded in 2004, Wheaton Precious Metals Corp. (NYSE: WPM) has established itself as the leading precious metals streaming company globally. Wheaton’s unique business model involves purchasing all or a portion of the silver and/or gold production from high-quality mines in exchange for an upfront payment. This allows Wheaton to acquire precious metals at a low fixed cost, significantly reducing the risks commonly associated with traditional mining operations.

Wheaton has secured over 20 long-term purchase agreements with 17 different mining companies. These agreements span approximately 19 operating mines and nine development projects. Some of the notable projects in Wheaton’s portfolio include the Salobo mine owned by Vale, the Antamina mine operated by Glencore, and Goldcorp’s Peñasquito mine.

Recently, Wheaton announced the acquisition of a silver stream from the Mineral Park Mine in Arizona, USA, owned by Waterton Copper. This addition is expected to enhance Wheaton’s portfolio significantly, allowing the company to leverage its historical knowledge of the mine to assist in bringing it back into production sustainably.

As of June 30, 2023, Wheaton reported having approximately $829 million in cash on hand. This financial position, combined with a $2 billion revolving term loan, ensures that Wheaton is well-equipped to fund current and future acquisitions. The company’s business model not only provides leverage to commodity prices but also offers exploration upside while maintaining a lower risk profile. This has allowed Wheaton to consistently outperform other mining investments.

Wheaton is committed to strong Environmental, Social, and Governance (ESG) practices. The company has a robust ESG framework and actively contributes to the communities where it operates. With a focus on long-life, low-cost assets, Wheaton creates sustainable value for all stakeholders through its streaming agreements.

In the latest financial results, Wheaton delivered a strong quarter with $219 million in operating cash flows for Q1 2024. The company forecasts a 40% increase in production by 2028, driven by multiple development projects achieving significant milestones. Wheaton continues to pursue accretive acquisitions, ensuring sustainable growth and value creation for its shareholders.

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Wheaton Precious Metals has declared a fourth quarterly cash dividend of US$0.12 per common share, reflecting a 20% increase from the previous quarter. This dividend will be payable to shareholders on record as of November 25, 2020, with a payment date on or about December 10, 2020. The company’s policy targets dividends at approximately 30% of average cash generated from operating activities. The anticipated annualized dividend for 2020 indicates a more than 90% increase over five years. Future dividends remain at the Board's discretion.

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Wheaton Precious Metals reported impressive financial results for Q3 2020, achieving nearly $230 million in operating cash flow and over $555 million for the first nine months, allowing for a 20% dividend increase. Production rebounded significantly post-COVID-19, with attributable gold equivalent production at 171,900 ounces. Revenue surged 37% year-over-year, driven by a 35% hike in gold equivalent prices. Additionally, the company announced a precious metals purchase agreement for the Marmato Project in Colombia. Debt decreased by $231 million to $278 million, improving financial stability.

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Wheaton Precious Metals announced a Precious Metals Purchase Agreement with Caldas Gold Corp for the Marmato Project in Colombia. Wheaton International will purchase 6.5% of gold and 100% of silver production until certain thresholds are met, after which the stream will adjust to 3.25% gold and 50% silver. The total cash payment is US$110 million, with US$38 million payable initially. The agreement enhances Wheaton's production capacities while supporting Caldas Gold’s ESG initiatives in local communities.

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Wheaton Precious Metals Corp. announced its admission to the Official List of the FCA and commencement of trading on the London Stock Exchange under the ticker 'WPM' from 8:00 am London time on October 28, 2020. This listing follows the publication of their Prospectus on October 23, 2020, and involves no new funds being raised. Wheaton has 449,280,476 Common Shares issued, positioning itself as a premier option for UK investors interested in precious metals. CEO Randy Smallwood highlighted this as a pivotal moment for the company, reinforcing its growth strategy.

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Wheaton Precious Metals Corp. has announced the approval and publication of its prospectus for listing on the London Stock Exchange (LSE), set to commence trading on October 28, 2020, under ticker LSE:WPM. The prospectus supports Wheaton's application for the admission of 449,280,476 common shares to the Official List of the FCA. The company aims to enhance access to equity capital in the UK and EMEA regions, and expects significant interest from new investors. Wheaton, a leader in precious metal streaming, reported record half-year results with over US$500 million in revenues and strong operating cash flow.

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Wheaton Precious Metals Corp. (TSX: WPM, NYSE: WPM) will announce its 2020 third quarter results on November 9, 2020, after market hours. A conference call to discuss these results is scheduled for November 10, 2020, at 11:00 am ET. Investors can participate via a toll-free number or an online webcast. The call will be recorded, available until November 17, 2020, for those who wish to listen later. This upcoming earnings report will be crucial for assessing the company's performance amidst market fluctuations.

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Wheaton Precious Metals Corp. intends to list its shares on the London Stock Exchange (LSE) as part of its growth strategy, focusing on enhancing access to equity capital. The planned Admission, scheduled for Q4 2020, follows the required regulatory approvals and aims to position Wheaton as a leader in the precious metals sector. The Company reports record half-year results for 2020, including over US$500 million in revenues and a cash operating margin of US$1,170 per gold equivalent ounce. No capital raise is intended with this listing.

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Wheaton Precious Metals Corp. announced that Randy Smallwood has been appointed as the new Chair of the World Gold Council, highlighting the increasing importance of gold in investment portfolios. Smallwood, who has led Wheaton since 2014, emphasized the Council's role in advocating for gold and supporting responsible gold mining standards. Industry leaders, including David Tait, praised his experience and commitment to sustainability. This appointment is expected to enhance Wheaton's influence in the gold sector and further promote gold as a key asset class.

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Wheaton Precious Metals Corp. has declared a third quarterly cash dividend of US$0.10 per common share for 2020. This will be paid to shareholders on record as of August 27, 2020, with payments distributed around September 10, 2020. The company aims to maintain dividends at approximately 30% of average cash generated from operations over the last year, setting a minimum of $0.10 to minimize volatility. This represents an 11% increase over 2019, with a forecast of more than 90% annualized growth over five years.

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FAQ

What is the current stock price of Wheaton Precious Metals (WPM)?

The current stock price of Wheaton Precious Metals (WPM) is $57.11 as of December 20, 2024.

What is the market cap of Wheaton Precious Metals (WPM)?

The market cap of Wheaton Precious Metals (WPM) is approximately 26.3B.

What is Wheaton Precious Metals Corp.?

Wheaton Precious Metals Corp. is the world's leading precious metals streaming company, focusing on purchasing silver and gold from high-quality mines at a low fixed cost.

What are some notable projects in Wheaton’s portfolio?

Notable projects include Vale's Salobo mine, Glencore's Antamina mine, and Goldcorp's Peñasquito mine.

What is Wheaton's recent acquisition?

Wheaton recently acquired a silver stream from the Mineral Park Mine in Arizona, USA, owned by Waterton Copper.

How much cash does Wheaton have on hand?

As of June 30, 2023, Wheaton had approximately $829 million in cash on hand.

What are Wheaton’s ESG commitments?

Wheaton is committed to strong Environmental, Social, and Governance (ESG) practices and actively contributes to the communities where it operates.

What is Wheaton’s business model?

Wheaton's business model involves purchasing silver and/or gold from high-quality mines in exchange for an upfront payment, offering leverage to commodity prices with lower risk than traditional mining.

What financial results did Wheaton achieve in Q1 2024?

Wheaton delivered $219 million in operating cash flows for Q1 2024 and forecasts a 40% increase in production by 2028.

How many purchase agreements does Wheaton have?

Wheaton has over 20 long-term purchase agreements with 17 different mining companies.

What is Wheaton’s forecast for production growth?

Wheaton forecasts a 40% increase in production by 2028, driven by several development projects achieving significant milestones.

How does Wheaton create value for its stakeholders?

Wheaton creates sustainable value through its streaming agreements, focusing on long-life, low-cost assets and maintaining strong ESG practices.

Wheaton Precious Metals Corp.

NYSE:WPM

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WPM Stock Data

26.30B
452.99M
0.13%
69.92%
1.79%
Gold
Basic Materials
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