Welcome to our dedicated page for Wheaton Precious Metals news (Ticker: WPM), a resource for investors and traders seeking the latest updates and insights on Wheaton Precious Metals 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 has announced the filing of its Form 40-F report with the Securities and Exchange Commission, now available on EDGAR and the company's website. The company's 2024 audited financial statements are also accessible online and available upon request to their Investor Relations Department.
The company will hold its Annual and Special Meeting of Shareholders on Friday, May 9, 2025, at 10:30 a.m. Pacific Time, offering both virtual and in-person attendance options in Vancouver. Shareholders are encouraged to participate through the online platform, where registered shareholders and proxyholders can listen live and vote in real-time through the TSX Trust virtual meeting platform.
Wheaton Precious Metals (WPM) reported record financial performance in 2024, with revenue reaching $1,285 million, operating cash flow of $1,028 million, and adjusted net earnings of $640 million. The company exceeded its production guidance, delivering 635,000 gold equivalent ounces (GEOs).
Q4 2024 highlights include record revenue of $381 million and operating cash flow of $319 million. The company maintained a strong balance sheet with $818 million in cash and no debt. Production increased 14% year-over-year, driven by stronger performance at Salobo and Peñasquito.
Key developments include four new streaming agreements, including Koné and Kurmuk projects. The company's five-year forecast projects a 40% increase in annual production to 870,000 GEOs. However, WPM recorded a $109 million impairment charge on the Voisey's Bay PMPA due to declining cobalt prices.
Wheaton Precious Metals (WPM) has announced an increase in its first quarterly cash dividend for 2025 to US$0.165 per common share, representing a 6.5% increase from the previous quarter's US$0.155. The company achieved record dividend payments in 2024, totaling US$0.62 per common share.
The dividend will be paid to shareholders of record as of April 1, 2025, with distribution scheduled for April 11, 2025. The ex-dividend date is set for April 1, 2025. Shareholders can participate in the optional Dividend Reinvestment Plan (DRIP), which allows for the reinvestment of dividends into additional common shares issued through treasury at the Average Market Price without a discount.
Wheaton Precious Metals has announced ReThink Milling Inc. as the winner of its inaugural Future of Mining Challenge, awarding them US $1 million for their innovative Conjugate Anvil Hammer Mill (CAHM) and MonoRoll technologies.
The winning technology aims to revolutionize the milling process by delivering greater efficiency with significantly lower energy consumption, reducing greenhouse gas emissions and operating costs. The challenge, launched in September 2024 in partnership with Foresight Canada, focused on finding innovative, scalable solutions for reducing greenhouse gas emissions across mining operations.
ReThink Milling's technology has already gained support from nine leading mining companies and various industry partners. The company plans to use the award funds to scale their CAHM Platform Technology closer to mine site implementation.
Wheaton Precious Metals (WPM) exceeded its 2024 production guidance, achieving over 633,000 gold equivalent ounces (GEOs), surpassing the upper target of 620,000 GEOs. The strong performance was primarily driven by Salobo's record quarterly production in Q4 and higher grades at Constancia.
The company provides 2025 production guidance of 600,000 to 670,000 GEOs and projects approximately 40% growth to 870,000 GEOs by 2029. Long-term outlook forecasts production to average over 950,000 GEOs annually during 2030-2034.
2024 actual production included 379,742 gold ounces, 20,657,000 silver ounces, and 16,196 other metal GEOs. As of December 31, 2024, approximately 163,850 GEOs were produced but not yet delivered. The company updated its 2025 commodity price assumptions to $2,600/oz for gold and $30/oz for silver.
THE Mining Investment Event, Canada's Only Tier 1 Global Mining Investment Conference, has announced its 2025 participants and sponsors for the upcoming event in Quebec City, June 3-5, 2025. Over 100 international issuers have confirmed their participation, with new sponsors including Agnico Eagle, AtkinsRéalis, VRIFY, CAUR Technologies and the Gold Telegraph.
The event features multiple tiers of sponsorship, including the Government of Québec as a Special Participant, Platinum Sponsors like Agnico Eagle and National Bank Financial Markets, and Glencore Canada as the Student Sponsor. The conference will maintain its format of corporate presentations, private investor one-on-one meetings, and networking events across three days, with each day focusing on different sectors: Producers and Royalty Companies (Day 1), Critical & Transition Metals (Day 2), and Explorers & Developers (Day 3).
Wheaton Precious Metals announced a planned CFO transition, with Gary Brown stepping down effective March 31, 2025, after nearly 17 years of service. Vincent Lau, current Vice President of Finance, will succeed as the new CFO.
Brown's tenure was marked by contributions to the company's financial growth, strategic direction, and risk management. Lau brings 13 years of experience as Wheaton's VP of Finance, managing corporate finance and risk management functions. His background includes senior finance roles at CHC Helicopters and KPMG's Transaction Services group in New York. He holds CPA and CFA designations with a Bachelor of Commerce from the University of British Columbia.
Wheaton Precious Metals has entered into a Gold Stream agreement with Allied Gold for the Kurmuk Project in Ethiopia. The deal involves a $175 million upfront cash consideration, paid in four equal installments during construction. Under the agreement, WPMI will purchase 6.7% of payable gold until 220,000 ounces are delivered, then 4.8% for the life of mine.
The project is expected to produce an average of 16,000 ounces of gold annually for the first ten years, with production starting in mid-2026. The mine has an 11-year life based on reserves. The acquisition will increase Wheaton's total gold reserves by 0.18 million ounces. The company participated in Allied's equity financing with a C$20.15 million investment.
Wheaton Precious Metals has declared its fourth quarterly cash dividend for 2024 of US$0.155 per common share. The dividend will be paid to shareholders of record as of November 21, 2024, with distribution scheduled for December 6, 2024. The company offers a Dividend Reinvestment Plan (DRIP), allowing shareholders to reinvest their dividends in common shares issued through treasury at the Average Market Price without a discount. Participation in the DRIP is optional, and both registered and beneficial shareholders can enroll through various channels.
Wheaton Precious Metals (WPM) reported record operating cash flow in Q3 2024, with revenue of $308 million and net earnings of $155 million. The company achieved 144,200 gold equivalent ounces production and maintained its 2024 guidance of 550,000 to 620,000 GEOs. Cash operating margins increased by over 30% compared to Q3 2023. The company announced two new streaming agreements: one with Montage's Koné Project and an amendment to Rio2's Fenix Project. WPM ended the quarter with $694 million in cash, no debt, and an undrawn $2 billion credit facility.