Wheaton Precious Metals Q3 revenue jumps on higher gold prices

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…