Canada's Wheaton Precious Metals Q3 revenue rises on higher realized gold equivalent prices

Wheaton Precious Metals

Thu 22:13

Overview
Canada precious metals streamer Q3 revenue rose 62% yr/yr but missed analyst expectations
Adjusted EPS for Q3 rose 46% yr/yr
Company maintained 2026 and long-term production guidance, citing progress at key projects

Outlook
Wheaton sees 2026 attributable production at 400,000-430,000 oz gold, 27-29 mln oz silver
Company maintains 2026 annual production guidance at 860,000-940,000 GEOs
Annual production forecast to rise ~50% to 1.2 mln GEOs by 2030, unchanged from prior outlook

Result Drivers
HIGHER REALIZED METAL PRICES - Co said Q3 revenue growth was driven primarily by a 36% increase in the average realized gold equivalent price
INCREASED SALES VOLUME - Number of gold equivalent ounces sold rose 19% yr/yr, contributing to higher revenue
ANTAMINA SILVER STREAM ACQUISITION - Acquisition of additional silver stream at Antamina drove a 60% increase in attributable silver production at that mine

Company press release: ID:nPn48CkVYa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Miss
$771.73 mln
$821.95 mln (4 Analysts)
Q3 EPS
 
$0.90
 
Q3 Net Income
 
$410.25 mln
 
Q3 EBIT
 
$511.01 mln
 
Q3 Pretax Profit
 
$487.68 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the gold peer group is "buy"
The stock recently traded at 28 times the next 12-month earnings vs. a P/E of 22 three months ago

Reuters Recommended Reads
Nov 4 - Royal Gold Q3 revenue rises 84% on higher metal prices
Nov 5 - Canada's Lundin Gold Q3 revenue rises on record gold production, higher prices
Nov 4 - Canada's Pan American Silver Q3 adjusted EPS misses estimates as silver, gold production drop below outlook  

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.)