Wheaton Precious Metals (WPM)

Business description

Wheaton Precious Metals is the pre-eminent pure precious metals streaming company, with c 30 high quality, precious metals streaming and early deposit agreements relating to assets in Mexico, Peru, Canada, Brazil, Chile, Argentina, Sweden, Greece, Portugal, the US and Guyana.

Stock data

Market cap.C$12258.3m
Last closeC$27.71
High / Low (52 weeks)C$30.0 / C$22.8
Stock market listingUS, CN
Forecast net debt (US$m)759.1
Forecast gearing ratio (%)15
TeamResources - Mining

Price performance

Relative *

* % Relative to local index

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Company news

At $21.61, Is Wheaton Precious Metals Corp (NYSE:WPM) A Buy?

Thu, 14 Dec 2017 13:07:30 GMT

Wheaton Precious Metals: What To Do Now

Mon, 20 Nov 2017 09:45:00 GMT

Ex-Dividend Reminder: Wheaton Precious Metals, Wyndham Worldwide and Dunkin ...

Wed, 22 Nov 2017 15:08:22 GMT

Wheaton Precious Metals' Dividend History: What Investors Need To Know

Fri, 17 Nov 2017 14:26:15 GMT

Is This Just A Random Move? – Wheaton Precious Metals Corp. (WPM), DryShips ...

Tue, 12 Dec 2017 20:03:45 GMT

Investment summary

Q317 results were characterised by improvements in production relative to Q2, but a 24.2% under-sale of silver relative to production and a 13.9% under-sale of gold. As a result, gold sales exceeded silver sales in the ratio 52:48 (cf 46:54 in Q217) and financial results were little changed vs Q2. Note that at least one quarter of inventory build is normal in a typical WPM year and allows for a bounce when it is then ‘flushed through’ in Q4.

Last updated on 13/12/2017

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (fd) (c) P/E (x) P/CF (x)
2015A 648.7 426.2 223.6 53.0 41.0 19.7
2016A 891.6 602.7 269.8 62.0 35.0 15.4
2017E 828.2 555.0 275.7 62.0 35.0 17.2
2018E 951.8 668.2 394.5 89.0 24.4 14.4

Last updated on 06/12/2017

Latest research

Never knowingly undersold

Update | Mining | 10/11/2017

Still shining

Outlook | Mining | 30/08/2017

Formerly Silver Wheaton (SLW)

Update | Mining | 18/05/2017

What a difference a quarter makes

Update | Mining | 29/03/2017

Q3 in perspective and Q4 preview

Update | Mining | 06/12/2016

Q3 results scheduled for 9 November

Update | Mining | 02/11/2016

Going for gold

Update | Mining | 30/08/2016

Forecasts weighted to H2

Update | Mining | 25/05/2016

Buying future growth

Update | Mining | 18/04/2016

Exceeding expectations

Update | Mining | 24/03/2016

Q415e results, Cotabambas analysis and CRA

Update | Mining | 15/02/2016

Q3 results and Antamina stream purchase

Update | Mining | 11/11/2015

Latest video

Analyst Interview - Silver Wheaton

Industry outlook

Assuming no material purchases of additional streams (which is unlikely), we forecast a value per share for WPM of US$38.24, or C$48.54, in FY20 (at precious metal prices of US$23.98/oz Ag and US$1,362/oz Au). In the meantime, WPM’s shares are trading on near-term financial measures that are consistently cheaper than those of its royalty/streaming ‘peers’ and are cheaper than the miners themselves in 41% of cases, despite being associated with materially less risk. Among others, Pascua-Lama, Rosemont and Salobo expansion then offer additional upside.

Last updated on 13/12/2017

Key management

Randy V. J. Smallwood , CEO
Gary D. Brown , CFO
Patrick Drouin , Director of Investor Relations
Rory Quinn , IR

Company address

Suite 3150
666 Burrard Street
V6C 2X8
View website