Wheaton Precious Metals Corp.

Wheaton Precious Metals is the largest pure precious metals streaming company in the world. The company has streams on some of the largest and lowest cost mines in the world. Wheaton Precious Metals' production and growth are founded on cornerstone assets including the Salobo mine in Brazil, the Peñasquito and San Dimas mines in Mexico, and the Antamina mine in Peru. Based upon its current agreements, forecast 2016 estimated annual attributable production is approximately 32 million ounces of silver and 305,000 ounces of gold. Wheaton Precious Metals' estimated average annual attributable production over the next five years is anticipated to be approximately 31 million ounces of silver and 330,000 ounces of gold per year.

Expert Comments:

Charles Gibson, Edison Investment Research (9/21/17)
"Management formally changed Wheaton Precious Metals Corp.'s dividend policy, which allowed it to declare a $0.10 Q3/17 dividend, compared to our prior expectation of $0.06. Finally, the company also announced that it had entered into an 'early deposit' agreement whereby it will advance $65M to Desert Star in return for the right to purchase 100% of the silver and gold from Kutcho in British Columbia at 20% of spot over the life of the mine."

Andrew Kaip, BMO Capital Markets (9/5/17)
"We favor Wheaton Precious Metals Corp. on cash generation and liquidity. . .following the old adage that 'cash is king,' the company is king, generating +40% of total cash flow among its peer group annually. . .barring any future equity raises, it is one of two companies that have the most enviable liquidity positions to be able to transact on future opportunities."

Charles Gibson, Edison Investment Research (8/30/17)
"Wheaton Precious Metals Corp. announced that it had entered into a nonbinding agreement with Desert Star regarding an 'early deposit' arrangement over the Kutcho project. . .the company will advance $65M to Desert Star in return for the right to purchase 100% of the silver and gold production from Kutcho at 20% of the spot price of the two metals until 51 Koz Au and 5.6 Moz Ag have been delivered, at which point the stream will decrease to a 66.67% share for a term of the life of the mine."

Michael Gray, Macquarie Capital Markets (8/21/17)
"On Aug. 10, Wheaton Precious Metals Corp. reported in line financial results of adjusted EPS/CFPS at $0.15/$0.29 versus our estimates at $0.13/$0.29 and consensus at $0.14/$0.31. . .the company also announced that it is increasing its dividend from 20 to 30% of average operating cash flow for the previous four quarters. . .we reiterate our Outperform, Top Pick status."

Andrew Kaip, BMO Capital Markets (8/10/17)
"Wheaton Precious Metals Corp. reported a slight beat in Q2/17 relative to expectations. . .silver deliveries of 7.2 Moz were above our estimate of 6.5 Moz, based on better-than-expected production at Penasquito and Antamina. . .adjusted earnings per share of $0.16 was above our estimate of $0.14 and consensus of $0.15."

Charles Gibson, Edison Investment Research (7/27/17)
"Wheaton Precious Metals Corp.'s Q1/17 net earnings were within 0.4% of our prior expectations. . .in relative terms, the company's shares are trading on near-term financial measures that are cheaper than those of its royalty/streaming 'peers' in about 92% of instances considered and the miners themselves in about 44%, despite being associated with materially less risk."

More Expert Comments

Experts Following This Company

Ralph Aldis, Portfolio Manager, Gold and Natural Resources – U.S. Global Investors
Cosmos Chiu, Executive Director of Precious Metals Equity Research – CIBC World Markets
Adrian Day, Founder – Adrian Day Asset Management
Charles Gibson, Director, Mining – Edison Investment Research
Michael Gray, Analyst – Macquarie Capital Markets
Timothy Hayes – Davenport & Co.
Frank Holmes, Chairman – U.S. Global Investors
Andrew Kaip, Analyst – BMO Capital Markets
Brian MacArthur, Analyst – UBS Securities
Phil Russo, Research Associate – Raymond James
Michael Siperco, Analyst, Mining Equity Research – Macquarie Capital Markets
Josh Wolfson, Precious Metals Analyst – Eight Capital

The information provided above is from analysts, newsletters, the company and other contributors.

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