Wheaton Precious Stock Price, News & Analysis

Wheaton Precious Metals will release its 2021 second quarter results on August 12, 2021, after market close. A conference call is scheduled for August 13, 2021, at 11:00 am ET to discuss these results. Participants can join via toll-free numbers for Canada and the US or from outside these regions. The live webcast will be available, and an archived version will be accessible for a year. Further details, including an accompanying slideshow, will be available on the Wheaton Precious Metals website.

Wheaton Precious Metals Corp. announced the election of its board of directors during the 2021 Annual and Special Meeting of Shareholders held on May 14, 2021. Key nominees included George L. Brack and Chantal Gosselin, with votes for Brack at 87.57% and Gosselin at 98.46%. Additionally, a non-binding advisory resolution regarding the company's executive compensation received 93.02% approval. These results indicate strong shareholder support for the current board and compensation strategies.

Wheaton Precious Metals Corp. has filed a new prospectus supplement for its at-the-market equity program, allowing it to issue up to US$300 million in common shares. This equity program is intended for the potential funding of precious metals purchase agreements and other corporate purposes. Notably, no shares have been issued under this program so far. The offering will be executed through various brokers on the NYSE and TSX, with sales occurring at prevailing market prices. Wheaton emphasizes its position as a leading precious metals streaming company, providing investors with a lower-risk investment profile.

Wheaton Precious Metals announced a 40% increase in its second quarterly cash dividend for 2021 to US$0.14 per share, payable on June 3, 2021, to shareholders on record as of May 21, 2021. This marks the third consecutive dividend increase. The company aims for dividends to represent approximately 30% of average cash generated from operating activities. Additionally, a Dividend Reinvestment Plan is available at a 1% discount for participation. Future dividends are subject to the Board's discretion and qualify as eligible dividends for tax purposes.

Wheaton Precious Metals reported strong Q1 2021 performance, achieving record revenue of $324 million and operating cash flow of $232 million. The company declared a $0.14 dividend per share, marking a 40% increase year-over-year. Notably, cobalt production commenced from the Voisey's Bay mine. Despite production declines in gold and silver, Wheaton remains focused on growth, evidenced by new precious metal agreements with Capstone. The balance sheet reflects robust cash reserves, with $191 million on hand and a fully repaid $2 billion revolving facility.

Wheaton Precious Metals will announce its 2021 first quarter results on May 6, 2021, after market close. A conference call is scheduled for May 7, 2021, at 11:00 am ET for discussing the results. Participants can join via a toll-free number or webcasting. The live event will also be available for archiving until May 14, 2021. Investors can access additional materials, including a slideshow, on Wheaton's website before the call.

Wheaton Precious Metals Corp. has filed its Form 40-F report with the SEC, providing access to its 2020 audited financial statements. The Company will hold its Annual and Special Meeting of Shareholders on May 14, 2021, at 10:30 a.m. PT, utilizing an online virtual platform to ensure safety amid COVID-19. Shareholders can join the meeting live to ask questions and vote in real time. Pre-registration is required for in-person attendance by May 12, 2021. More details are available on Wheaton's website.

Wheaton Precious Metals has entered a Precious Metal Purchase Agreement with Capstone Mining for the Santo Domingo project in Chile. The deal involves an upfront payment of US$290 million, with Wheaton acquiring 100% of payable gold production until 285 koz are delivered, then dropping to 67% for the mine's life. The project is expected to produce an average of 35-40 koz of gold per year initially, boosting Wheaton’s gold reserves significantly. Construction is slated to start in late 2021, with first production expected in 2024.