Wheaton Precious Metals

Website: www.wheatonpm.com
Primary ticker: NYSE:WPM; TSX:WPM
Stage of development: Development, Production
Commodity: Gold, Silver, Palladium & Cobalt
Project to promote: /
Project location: Argentina, Brazil, Canada, Greece, Guyana, Mexico, Peru, Portugal, Sweden, USA
Company presentation: Click here

Live financials

Cash: USD$103.9M
Debt: USD$874.5

Major shareholders:
First Eagle –5.4%
Van Eck Associates – 4.8%
Blackrock Investment Management – 4.7%
Templeton Global Advisors – 3.9%
The Vanguard Group – 2.9%
Management Ownership – 1.5%

Wheaton is the world’s premier precious metals streaming company with the highest-quality portfolio of long-life, low-cost assets. Its business model offers investors commodity price leverage and exploration upside but with a much lower risk profile than a traditional mining company. Wheaton delivers amongst the highest cash operating margins in the mining industry, allowing it to pay a competitive dividend and continue to grow through accretive acquisitions. As a result, Wheaton has consistently outperformed gold and silver, as well as other mining investments. Wheaton creates sustainable value through streaming.

Analyst Insight – provided by Independent Investment Research

Wheaton Precious Metals is a NYSE and TSX-listed company that is the world’s premier precious metals streaming business, with the highest-quality portfolio of long-life, low-cost assets. Its business model offers investors commodity price leverage and exploration upside but with a much lower risk profile than a traditional mining company.

Wheaton delivers amongst the highest cash operating margins in the mining industry, allowing it to pay a competitive dividend and continue to grow through accretive acquisitions. As a result, Wheaton has consistently outperformed gold and silver, as well as other mining investments. Wheaton creates sustainable value through streaming.

Wheaton is one of the largest precious metals streaming companies in the world. The company has entered into agreements to purchase all or a portion of the precious metals or cobalt production from high-quality mines for an upfront payment and an additional payment upon delivery of the metal. Wheaton currently has streaming agreements for 20 operating mines and 9 development stage projects.

The company’s production profile is driven by a portfolio of low-cost, long-life assets, including a gold stream on Vale’s Salobo mine, and silver streams on Glencore’s Antamina mine and Newmont Goldcorp’s Peñasquito mine.

Wheaton offers these benefits while at the same time reducing many of the downside risks faced by traditional mining companies. In particular, Wheaton offers its investors both capital and operating cost predictability. Other than its initial upfront payment, Wheaton typically has no ongoing capital or exploration costs.

Wheaton has had a strong start to 2020, generating more than $177 million in operating cash flow during the first quarter, an increase of over 50%. Attributable gold-equivalent production was over 180,000 ounces in the first quarter, whilst net debt fell by $182 million, with Wheaton ending the first quarter in a net debt position of $589 million. The company declared a quarterly dividend of $0.10 per common share.