Wheaton Precious Metals Corp

Wheaton Precious Metals Corp

WPM

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Market Cap$52.72B
Close$

Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Wheaton Precious Metals CorpWheaton Precious Metals Corp29.30.62%19%19.4-

Earnings Call Q1 2026

May 8, 2026 - AI Summary

Record financial performance (strong start to 2026) - Q1 production: 212k GEOs, +22% YoY; sales: 182k GEOs, -3% YoY due to higher PBND (timing between production and delivery). - Record quarterly revenue/earnings/cash flow: net earnings $582M (+129% YoY); adjusted net earnings $583M; operating cash flow $766M (+812% YoY). - Revenue mix: 51% gold / 47% silver (rest palladium + cobalt). - Cash position and liquidity: cash balance $2.2B at Mar 31; net cash inflow ~$1B in the quarter.
Major surprise/opportunity: Antamina silver stream with BHP (biggest deal in Wheaton history) - Wheaton announced/completed the Antamina silver stream with BHP: became effective April 1; upfront payment $4.3B funded via cash + draw on $2B revolver + $1.5B term loan. - Largest transaction in Wheaton’s history and described as the largest fresh-metal stream deal completed. - Production impact: Antamina attributable silver 1.6M oz in Q1 (+48% YoY); Wheaton attributable production expected to increase significantly starting 2026 (BHP stream contribution effective Q2). - Accounting/structure note: treated as one “Antamina” segment; depletion rate expected $26–$27/oz (combined).
2026 outlook reaffirmed: growth trajectory + timing “lumpiness” to model - Attributable production guidance unchanged: 860k–940k GEOs for 2026, with ~45% in H1 / 55% in H2. - Drivers of H2 weighting: Salobo + Peñasquito sequencing, Antamina BHP contract starting in Q2, and ramp-ups of new operating assets. - Longer-term growth: management reiterated organic profile of ~50% by 2030, reaching about 1.2M GEOs by 2030; 2031–2035 average ~1.2M GEOs annually (plus additional pre-development assets).

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$170.00

Target Price by Analysts

46.4% upsideWheaton Precious Metals Target Price DetailsTarget Price
$47.97

Current Fair Value

58.7% downside

Overvalued by 58.7% based on the discounted cash flow analysis.

Share Statistics

Market cap$52.72 Billion
Enterprise Value$50.56 Billion
Dividend Yield$0.72 (0.62%)
Earnings per Share$3.3
Beta1.16
Outstanding Shares454,044,000

Return

Return on Equity19.41%ROE
Return on Assets18.22%
Return on Invested Capital21.10%

Valuation & Multiples

P/E Ratio29.28P/E Ratio
PEG23.24PEG
Price to Sales19.35Price to Sales
Price to Book Ratio5.81Price to Book Ratio
Enterprise Value to Revenue18.41
Enterprise Value to EBIT25.51
Enterprise Value to Net Income28
Total Debt to Enterprise0
Debt to Equity0Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
May 14, 2026
EPS Estimate
$1.35
Average shareholder expectation
Revenue Estimate
$931.32 M
Average shareholder expectation

Next Earnings Call

Expected Date
August 6, 2026
EPS Estimate
$1.28
Average shareholder expectation
Revenue Estimate
$953.19 M
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio2.1849 56.21%
Total Calls2,025,400 15.77%
Total Puts4,425,251 13.40%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %62.05% 1.40%
Total Invested$36.99B 9.04%
Investors Holding893 48.00%

ESG Score

No data

About Wheaton Precious Metals Corp

CEO: Randy Smallwood

Relevant Senate Committees

Joint Committee on Taxation

This committee's role in analyzing and influencing corporate tax structures, capital investment credits, and the overall tax burden directly impacts WPM's financial performance and investment decisions.

Finance

This committee's control over taxation and trade policy directly impacts WPM's profitability, capital investment decisions, and the global market dynamics for precious metals.

Health, Education, Labor, and Pensions

This committee's oversight of labor laws and regulations directly impacts the operational costs, workforce management, and labor relations for the mining companies that WPM finances.

Banking, Housing, and Urban Affairs

This committee's oversight of the SEC impacts WPM as a publicly traded company, governing its disclosure and financial reporting. Its broader regulation of the financial system can also affect capital markets and financing for mining projects.

Energy and Natural Resources

This committee directly oversees national energy policy, public lands, and regulations for resource extraction, all of which are critical for the mining operations that WPM finances. Energy costs are also a significant operational factor.