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. (WPM) regularly issues detailed news releases covering its precious metals streaming activities, financial performance and corporate initiatives. As a streaming company with exposure to gold, silver, palladium and cobalt, Wheaton's news flow often centers on new precious metals purchase agreements, changes to existing streams and updates on the mines and projects in its portfolio.
Investors following WPM news can expect frequent announcements on new gold streams and royalty interests, such as the agreements on the Spring Valley Project in Nevada and the Hemlo Mine in Canada. These releases typically outline upfront deposits, the percentage of payable metal Wheaton will receive, production thresholds and ongoing payment terms linked to spot prices. The company also reports on the performance of key operating assets, including attributable production from mines like Salobo, Antamina, Peñasquito, Constancia, San Dimas, Stillwater, Voisey's Bay, Blackwater and Goose.
Quarterly and year-to-date financial updates are another major component of Wheaton's news. The company has highlighted periods of record revenue, net earnings and operating cash flow, attributing results to higher realized gold equivalent prices and increased gold equivalent ounces sold. These releases often include commentary on cash operating margins, produced but not yet delivered ounces, and the status of its revolving credit facility and cash balances.
In addition, WPM news covers dividend declarations, changes to its Dividend Reinvestment Plan, conference call details for quarterly results, and ESG-related initiatives such as the Future of Mining Challenge and community support contributions. Readers who track WPM news can use this page to monitor new streaming transactions, portfolio developments, dividend announcements and the company’s commentary on its growth profile and sustainability priorities.
Wheaton Precious Metals has entered into an agreement to terminate its silver stream on the Yauliyacu Mine, Peru, for US$150 million. This move aims to facilitate Glencore's sale of the mine, which Wheaton originally acquired in 2006 for US$285 million. The transaction is expected to close by December 31, 2022, and Wheaton's projected average annual production for 2022 is between 640,000 and 680,000 gold equivalent ounces. The termination will reduce future production estimates to 800,000 GEOs over five years and 850,000 GEOs over ten years.
Wheaton Precious Metals Corp. has declared a third quarterly cash dividend of US$0.15 per common share for 2022. The ex-dividend date is August 25, 2022, with a payment date of September 8, 2022. This dividend aligns with the company's revised policy of distributing at least 30% of cash generated by operating activities. The company aims to provide stability in dividend payments, reflecting confidence in financial performance. The dividend qualifies as an 'eligible dividend' for Canadian tax purposes.
Wheaton Precious Metals has declared a third quarterly cash dividend of US$0.15 per common share for 2022. This dividend will benefit shareholders of record as of August 26, 2022, and payments will be distributed on or about September 8, 2022, with an ex-dividend date of September 7, 2022. The company is maintaining a minimum quarterly dividend, ensuring a stable income stream for investors. Shareholders are encouraged to consider participating in the company’s Dividend Reinvestment Plan at a 1% discount.
Wheaton Precious Metals reported second quarter 2022 financial results, achieving over $300 million in revenue and $206 million in operating cash flow. The company's cash balance stood at $449 million with no debt. Adjusted net earnings were $149 million, but production decreased across gold, palladium, and cobalt due to various challenges. The company announced updated production guidance for 2022, lowering its forecast to 640,000 to 680,000 gold equivalent ounces. Wheaton remains focused on sustainability initiatives, having been recognized as one of Canada's Best 50 Corporate Citizens.
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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.
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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.