Wheaton Precious Metals Corp

Record Financial Performance: Wheaton Precious Metals reported record quarterly revenue of $470 million for Q1 2025, marking a 59% increase compared to the previous year. Adjusted net earnings reached $251 million, an increase of 53% year-over-year. Cash flow from operations also set a record at $361 million, reflecting a 65% increase, indicating robust operational efficiency and profitability.

Production and Sales Dynamics: Total production for Q1 was 151,000 gold equivalent ounces (GEOs), down 4% year-over-year, attributed to lower production at Peñasquito and Constancia. However, sales volumes increased by 16% to 161,000 GEOs, driven by high production levels in the previous quarter. The company expects ongoing consistency between production and sales moving forward despite a back-ended production profile for 2025.

Strong Growth Outlook: The company maintains a production forecast of 600,000 to 670,000 GEOs for 2025 and projects an impressive 40% annual growth rate, expected to reach 870,000 GEOs by 2029. This growth is supported by several development projects coming online, notably the recently transitioned Blackwater mine into commercial production.