Welcome to our dedicated page for Wheaton Precious news (Ticker: WPM), a resource for investors and traders seeking the latest updates and insights on Wheaton Precious stock.
Wheaton Precious Metals Corp. reports developments tied to its precious metals streaming business, which generates revenue from sales of gold, silver, palladium and cobalt produced under agreements with mining partners. Recurring updates cover operating and financial results, cash operating margins, production contributions from assets such as Salobo, Peñasquito and Antamina, and the effect of fixed per-ounce production payments in its stream portfolio.
Company news also covers quarterly dividends, Dividend Reinvestment Plan terms, new or completed precious metals purchase agreements through Wheaton Precious Metals International Ltd., and shareholder meeting matters. Governance updates include director elections, board roles, advisory compensation votes and other special matters submitted to shareholders.
Wheaton Precious Metals Corp. intends to list its shares on the London Stock Exchange (LSE) as part of its growth strategy, focusing on enhancing access to equity capital. The planned Admission, scheduled for Q4 2020, follows the required regulatory approvals and aims to position Wheaton as a leader in the precious metals sector. The Company reports record half-year results for 2020, including over US$500 million in revenues and a cash operating margin of US$1,170 per gold equivalent ounce. No capital raise is intended with this listing.
Wheaton Precious Metals Corp. announced that Randy Smallwood has been appointed as the new Chair of the World Gold Council, highlighting the increasing importance of gold in investment portfolios. Smallwood, who has led Wheaton since 2014, emphasized the Council's role in advocating for gold and supporting responsible gold mining standards. Industry leaders, including David Tait, praised his experience and commitment to sustainability. This appointment is expected to enhance Wheaton's influence in the gold sector and further promote gold as a key asset class.
Wheaton Precious Metals Corp. has declared a third quarterly cash dividend of US$0.10 per common share for 2020. This will be paid to shareholders on record as of August 27, 2020, with payments distributed around September 10, 2020. The company aims to maintain dividends at approximately 30% of average cash generated from operations over the last year, setting a minimum of $0.10 to minimize volatility. This represents an 11% increase over 2019, with a forecast of more than 90% annualized growth over five years.
Wheaton Precious Metals reported strong financial results for the first half of 2020, generating over $500 million in revenue and nearly $330 million in operating cash flow. Despite COVID-19 impacting production in Q2, the company achieved record sales of 322,000 gold equivalent ounces. The Q2 operating cash flow reached $151 million, a nearly 40% increase from the previous year. The net debt was reduced by $80 million, totaling $509 million. Additionally, the company established a $5 million fund to combat COVID-19 effects in communities around their operations.
Wheaton Precious Metals will release its 2020 second quarter results on August 12, 2020, following market close. A conference call is scheduled for August 13, 2020, at 11:00 am ET to discuss the results. Dial-in options include 1-888-231-8191 for North America and 1-647-427-7450 for international participants, with a passcode of 1968427. The call will be recorded and available until August 20, 2020.
Wheaton Precious Metals Corp. announced a non-binding term sheet with Caldas Gold Corp. for a Precious Metals Purchase Agreement regarding the Marmato Project in Colombia. Wheaton International will acquire 6.5% of gold and 100% of silver production until certain thresholds are met, with a total cash consideration of $110 million. The project includes an operational mine and potential for increased production through the Marmato Deeps Zone. This agreement indicates Wheaton's commitment to expanding its portfolio and securing high-quality assets despite global market challenges.