Wheaton Precious Stock Price, News & Analysis

Wheaton Precious Metals will announce its 2022 second-quarter results on August 11, 2022, after the market closes. A conference call is scheduled for August 12, 2022, at 11:00 am ET for discussion of the results. Investors can participate via phone or live webcast. Wheaton Precious Metals is recognized as a leading precious metals streaming company, noted for its low-cost, high-quality assets that deliver strong cash operating margins and competitive dividends.

Wheaton Precious Metals Corp. has entered into a definitive agreement with Hecla Mining Company to terminate its silver stream on the Keno Hill Silver District for US$135 million. This move allows Wheaton to strengthen its balance sheet, as it will receive Hecla common shares, giving it approximately 5.6% ownership of Hecla. The transaction is contingent upon Hecla completing its acquisition of Alexco Resource Corp. The announcement emphasizes Wheaton's strategic approach to value creation amid exploration potential in Keno Hill.

Wheaton Precious Metals has been recognized as one of the Best 50 Corporate Citizens in Canada by Corporate Knights in 2022. This acknowledgment highlights the company’s strong commitment to sustainability, with high standards in its Environmental, Social, and Governance (ESG) practices. Out of 332 Canadian companies assessed, Wheaton ranked third among 207 global companies in the Asset Management peer group and ninth among 304 companies in the Metals and Mining sector. Their third annual Sustainability Report also underscores their ESG performance.

Wheaton Precious Metals Corp. announced the election of new directors at its 2022 Annual and Special Meeting of Shareholders. George Brack replaces Doug Holtby as Chair of the Board. Jaimie Donovan joins the board, contributing significant operational experience, as the company achieves its gender diversity goal ahead of schedule. The shareholder vote reflected strong support for the nominees: Brack received 86.73% approval, while Donovan gained 99.44%. Furthermore, a non-binding advisory resolution on executive compensation was also approved with 91.56% in favor.

Wheaton Precious Metals reported strong Q1 2022 results, generating over $210 million in operating cash flow and achieving $307 million in revenue, despite a 5% year-over-year decline. The company declared a quarterly dividend of $0.15, a 7% increase compared to Q1 2021. New precious metal purchase agreements were established with Adventus Mining and Sabina Gold & Silver, while existing agreements were amended to increase gold streams. Notably, Wheaton also formalized a climate change policy aimed at achieving net zero carbon emissions by 2050.

Wheaton Precious Metals has declared a quarterly cash dividend of US$0.15 per common share for Q2 2022. The dividend will be payable to shareholders on record as of May 20, 2022, with distribution occurring on or about June 3, 2022. The ex-dividend date is May 19, 2022. This aligns with the company's revised policy, targeting a minimum quarterly dividend equal to the previous quarter's amount. The dividend qualifies as an 'eligible dividend' for Canadian tax purposes. Future dividends will be determined by the Board of Directors.

Wheaton Precious Metals will announce its 2022 first quarter results on May 5, 2022, after market close. A conference call is scheduled for May 6, 2022, at 11:00 am ET to discuss these results. Investors can join the call via toll-free numbers or a live webcast. An archived version of the call will be accessible until May 13, 2022. The company, noted for its high-quality, low-cost asset portfolio, aims to deliver sustainable value through its streaming model, providing leverage to commodity prices.