Canada's Wheaton Precious Metals Q3 revenue jumps on higher gold prices

Overview

• Wheaton Precious Metals' Q3 revenue reaches $476 mln, driven by higher gold prices

• Net earnings for Q3 hit record $367 mln, 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

Key Details

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

Press Release: ID:nCNWqL2jja

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