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.
Wheaton Precious Metals Corp. has filed its Form 40-F report with the Securities and Exchange Commission, making its 2022 audited financial statements available via EDGAR and on the company's website. Shareholders can request copies of these financial statements at no cost. The Annual and Special Meeting of Shareholders is set for May 12, 2023, at 10:30 a.m. Pacific Time, both virtually and at its Vancouver offices. Shareholders can participate online, with instructions provided on the company's website, where they can also find technical reminders and voting instructions.
Wheaton Precious Metals has declared its first quarterly cash dividend for 2023 at US$0.15 per common share. This dividend will be paid to shareholders on record by March 24, 2023, with a payment date set for April 6, 2023. The ex-dividend date is March 23, 2023. In line with its dividend policy, Wheaton aims to maintain a quarterly dividend amount that reflects at least 30% of average cash generated from operations over the past year, rounded to the nearest cent. The Company has a Dividend Reinvestment Plan (DRIP) in place, allowing shareholders the option to reinvest dividends into additional shares.
Wheaton Precious Metals reported strong financial results for 2022, achieving over $1 billion in revenue and over $740 million in operating cash flow. The fourth quarter saw revenue of $236 million and net earnings of $166 million, albeit with declines in gold and silver production due to lower grades. The company maintains a robust balance sheet with $696 million in cash and no debt. Sustainability efforts rank Wheaton highly among peers, with a commitment to net-zero carbon emissions by 2050. However, gold equivalent production decreased by 19.6% year-on-year, indicating challenges in maintaining output levels.
Wheaton Precious Metals (WPM) reported its 2022 production results, achieving the low end of guidance, with 286,985 gold ounces produced against a target of 300,000-320,000. They also highlighted diversification with four new development streams. Silver production was slightly lower at 23,979, while other metals totaled 31,347 GEOs. Challenges included lower output from Salobo and adverse weather impacts on Stillwater operations. For 2023, gold equivalent production is expected to rise slightly, driven by Salobo and Constancia, despite lower output from Antamina. Full financial details will be released on March 9, 2023.
Wheaton Precious Metals Corp. has declared a fourth quarterly cash dividend of US$0.15 per common share, payable on or about December 1, 2022. The record date is November 21, 2022, with an ex-dividend date set for November 18, 2022. This dividend reflects the company's revised policy, where quarterly dividends are aimed to be at least 30% of the average cash generated from operations. The dividend qualifies as an eligible dividend for Canadian tax purposes. Shareholders can participate in the Dividend Reinvestment Plan at a 1% discount.
Wheaton Precious Metals reported its Q3 2022 financial results, achieving $219 million in revenue and $154 million in operating cash flow. Net earnings rose to $197 million, a 45.6% increase compared to last year. Although gold production decreased by 14.2%, the company maintained a strong balance sheet with $495 million in cash and no debt. The company also announced the termination of the Keno Hill PMPA, leading to a gain of $104 million. Wheaton continues to focus on sustainability, with a commitment to net-zero carbon emissions by 2050.
Wheaton Precious Metals Corp. is set to release its 2022 third quarter results on November 3, 2022, after market close. A conference call will follow on November 4, 2022, at 11:00 am ET to discuss the results. Investors can participate via phone or live webcast. Wheaton, known for its streamlined business model in precious metals, boasts high cash operating margins and a competitive dividend, positioning itself favorably in the mining sector. The event will also include an archived webcast available for one year.
Wheaton Precious Metals has entered into an agreement to terminate its silver stream on the Yauliyacu Mine, Peru, for US$150 million. This move aims to facilitate Glencore's sale of the mine, which Wheaton originally acquired in 2006 for US$285 million. The transaction is expected to close by December 31, 2022, and Wheaton's projected average annual production for 2022 is between 640,000 and 680,000 gold equivalent ounces. The termination will reduce future production estimates to 800,000 GEOs over five years and 850,000 GEOs over ten years.
Wheaton Precious Metals Corp. has declared a third quarterly cash dividend of US$0.15 per common share for 2022. The ex-dividend date is August 25, 2022, with a payment date of September 8, 2022. This dividend aligns with the company's revised policy of distributing at least 30% of cash generated by operating activities. The company aims to provide stability in dividend payments, reflecting confidence in financial performance. The dividend qualifies as an 'eligible dividend' for Canadian tax purposes.
Wheaton Precious Metals has declared a third quarterly cash dividend of US$0.15 per common share for 2022. This dividend will benefit shareholders of record as of August 26, 2022, and payments will be distributed on or about September 8, 2022, with an ex-dividend date of September 7, 2022. The company is maintaining a minimum quarterly dividend, ensuring a stable income stream for investors. Shareholders are encouraged to consider participating in the company’s Dividend Reinvestment Plan at a 1% discount.
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