Canada's Wheaton Precious Metals Q2 revenue misses estimates

Wheaton Precious Metals

06/08/2026 22:14

Overview
Canada precious metals streaming firm's Q2 revenue rose 85% yr/yr but missed analyst expectations
Adjusted EPS for Q2 jumped 90% yr/yr, driven by higher realized prices and production
Company expanded streaming and royalty portfolio with new agreements in Australia, Canada and Japan

Outlook
Wheaton forecasts 2026 production of 400,000-430,000 oz gold, 27-29 mln oz silver, 19,000-21,000 GEOs other metals
Company maintains 2026 annual production guidance of 860,000-940,000 GEOs, unchanged from prior outlook
Wheaton expects annual production to rise about 50% to 1.2 mln GEOs by 2030, unchanged from prior forecast

Result Drivers
HIGHER REALIZED PRICES - Co said Q2 revenue growth was primarily due to a 61% increase in the average realized gold equivalent price
INCREASED PRODUCTION VOLUMES - Attributable gold equivalent production rose 6% yr/yr, driven by new and ramping assets including BHP Antamina PMPA, Hemlo, Fenix, Platreef and Goose
SILVER PRODUCTION BOOST - Newly acquired BHP Antamina PMPA led to a 56% increase in attributable silver production at Antamina

Company press release: ID:nPnbswZT5a

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Miss
$929.2 mln
$947.73 mln (3 Analysts)
Q2 EPS
 
$1.19
 
Q2 Net Income
 
$543.24 mln
 
Q2 EBIT
 
$667.06 mln
 
Q2 Pretax Profit
 
$645.03 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", no "hold" and no "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$250.00, about 44.9% above its August 5 closing price of C$172.48
The stock recently traded at 25 times the next 12-month earnings vs. a P/E of 25 three months ago

Reuters Recommended Reads
Aug 5 - Canada's Triple Flag Q2 adj EPS and EBITDA beat estimates, revenue up 37%
Aug 5 - Royal Gold Q2 revenue more than doubles on higher metal prices
Aug 5 - Canada's Gold Royalty Q2 revenue rises 76% yr/yr

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)