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 announced a 40% increase in its second quarterly cash dividend for 2021 to US$0.14 per share, payable on June 3, 2021, to shareholders on record as of May 21, 2021. This marks the third consecutive dividend increase. The company aims for dividends to represent approximately 30% of average cash generated from operating activities. Additionally, a Dividend Reinvestment Plan is available at a 1% discount for participation. Future dividends are subject to the Board's discretion and qualify as eligible dividends for tax purposes.
Wheaton Precious Metals reported strong Q1 2021 performance, achieving record revenue of $324 million and operating cash flow of $232 million. The company declared a $0.14 dividend per share, marking a 40% increase year-over-year. Notably, cobalt production commenced from the Voisey's Bay mine. Despite production declines in gold and silver, Wheaton remains focused on growth, evidenced by new precious metal agreements with Capstone. The balance sheet reflects robust cash reserves, with $191 million on hand and a fully repaid $2 billion revolving facility.
Wheaton Precious Metals will announce its 2021 first quarter results on May 6, 2021, after market close. A conference call is scheduled for May 7, 2021, at 11:00 am ET for discussing the results. Participants can join via a toll-free number or webcasting. The live event will also be available for archiving until May 14, 2021. Investors can access additional materials, including a slideshow, on Wheaton's website before the call.
Wheaton Precious Metals Corp. has filed its Form 40-F report with the SEC, providing access to its 2020 audited financial statements. The Company will hold its Annual and Special Meeting of Shareholders on May 14, 2021, at 10:30 a.m. PT, utilizing an online virtual platform to ensure safety amid COVID-19. Shareholders can join the meeting live to ask questions and vote in real time. Pre-registration is required for in-person attendance by May 12, 2021. More details are available on Wheaton's website.
Wheaton Precious Metals has entered a Precious Metal Purchase Agreement with Capstone Mining for the Santo Domingo project in Chile. The deal involves an upfront payment of US$290 million, with Wheaton acquiring 100% of payable gold production until 285 koz are delivered, then dropping to 67% for the mine's life. The project is expected to produce an average of 35-40 koz of gold per year initially, boosting Wheaton’s gold reserves significantly. Construction is slated to start in late 2021, with first production expected in 2024.
Wheaton Precious Metals has declared its first quarterly cash dividend for 2021, increasing it by 30% to US$0.13 per share compared to 2020. This dividend will benefit shareholders of record as of March 26, 2021, with payment expected around April 13, 2021. The company aims for dividends to reflect approximately 30% of average cash generated over the prior year while maintaining a minimum dividend of $0.13. The dividend qualifies as an 'eligible dividend' for Canadian taxes.
Wheaton Precious Metals reported record financial results for 2020, achieving over $1 billion in revenue and $765 million in operating cash flow, marking increases of 27% and 52.6% year-over-year, respectively. The company reduced net debt by $275 million, ending with a net debt position of only $2 million. A quarterly dividend of $0.13 was declared, reflecting a 30% increase. Notably, Wheaton added two new precious metal streams and commenced trading on the London Stock Exchange. Production guidance for 2021 is estimated at 370,000 to 400,000 ounces of gold and 22.5 to 24 million ounces of silver.
Wheaton Precious Metals (WPM) reported strong performance in 2020, with gold equivalent production of 672,619 ounces, exceeding its guidance. Despite pandemic challenges, production from key assets like Peñasquito and Antamina was resilient. For 2021, the company forecasts gold production of 370,000 to 400,000 ounces, mainly due to growth at Salobo and Constancia. Production is anticipated to increase annually, supported by new projects like Pampacancha. Full financial results are scheduled for release on March 11, 2021, with a conference call on March 12.
Wheaton Precious Metals Corp. announced a Precious Metal Purchase Agreement with Capstone Mining Corp. related to the Cozamin Mine in Mexico. Wheaton will pay US$150 million upfront for 50% of silver production until 10 million ounces are delivered, then 33% for the mine's life. This acquisition boosts Wheaton’s Proven and Probable silver reserves by 6.8 million ounces and is anticipated to yield about 820,000 ounces per year over the next five years. It also opens potential discussions for a gold stream on Capstone's Santo Domingo project.
FAQ
What is the current stock price of Wheaton Precious Metals (WPM)?
What is the market cap of Wheaton Precious Metals (WPM)?
What is Wheaton Precious Metals Corp.?
What are some notable projects in Wheaton’s portfolio?
What is Wheaton's recent acquisition?
How much cash does Wheaton have on hand?
What are Wheaton’s ESG commitments?
What is Wheaton’s business model?
What financial results did Wheaton achieve in Q1 2024?
How many purchase agreements does Wheaton have?
What is Wheaton’s forecast for production growth?
How does Wheaton create value for its stakeholders?
