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$11019.2m
Last closeC$24.93
High / Low (52 weeks)C$32.6 / C$22.8
Stock market listingUS, CN
Forecast net debt (US$m)750.8
Forecast gearing ratio (%)15
TeamResources - Mining
SectorMining

Price performance

%1m3m12m
Actual5.151.26(21.08)
Relative *1.51(2.8)(26.23)

* % Relative to local index

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Company news

Panoro Minerals Announces Receipt of Early Deposit Payment from Wheaton ...

Tue, 17 Oct 2017 18:45:00 GMT

Wheaton Precious Metals Corp. Could Have Significant Upside Potential

Thu, 21 Sep 2017 11:15:00 GMT

Why Wheaton Precious Metals Corp. Fell Nearly 10% in September

Wed, 04 Oct 2017 14:48:45 GMT

Have Investors Already Priced In Wheaton Precious Metals Corp's (TSX:WPM) Growth?

Wed, 18 Oct 2017 15:56:15 GMT

Wheaton Precious Metals: A Significant Move

Mon, 14 Aug 2017 14:48:45 GMT

Investment summary

Q2 earnings from operations were closely in line with our forecasts. In addition, management formally changed the company's dividend policy, which allowed it to declare a 10c third quarter dividend cf our prior expectation of 6c. Finally, WPM also announced that it had entered into an ‘Early Deposit’ agreement whereby it will advance US$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.

Last updated on 03/10/2017

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (c) P/E (x) P/CF (x)
2015A 648.7 426.2 223.6 53.0 37.3 18.0
2016A 891.6 602.7 269.8 62.0 31.9 14.0
2017E 843.4 564.4 279.7 63.0 31.4 15.3
2018E 951.8 668.5 395.0 89.0 22.2 13.1

Last updated on 14/09/2017

Latest research

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

Tax and other matters

Update | Mining | 22/10/2015

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$38.29, or C$48.71, in FY20 (at average 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 on 51% of valuation measurements, despite being associated with materially less risk.

Last updated on 03/10/2017

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
Vancouver
BC
V6C 2X8
Canada
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