Wheaton Precious Metals Corp. (WPM) is listed on NYSE and operates in the Gold industry (Basic Materials sector).
Wheaton Precious Metals Corp., a streaming company, primarily sells precious metals in Canada and internationally. The company sells gold, silver, palladium, and cobalt deposits. It has a portfolio of interests in the 23 operating mines and 13 development projects. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp. was founded in 2004 and is headquartered in Vancouver, Canada.
| Rating | Analysts |
|---|---|
| Strong Buy | 0 |
| Buy | 16 |
| Hold | 4 |
| Sell | 0 |
| Strong Sell | 0 |
Wheaton Precious Metals Corp. is a streaming company in the basic materials sector, focusing on the sale of precious metals. The company deals in gold, silver, palladium, and cobalt, operating both in Canada and internationally. Wheaton Precious Metals holds interests in 23 operating mines and 13 development projects, providing a diverse portfolio in the mining industry. Originally established as Silver Wheaton Corp. in 2004, the company rebranded to its current name in May 2017. Headquartered in Vancouver, Canada, Wheaton Precious Metals leverages its streaming agreements to acquire precious metals at reduced prices, which are then sold on the global market. This business model allows the company to maintain a steady supply of metals while minimizing operational risks associated with direct mining activities. Through its strategic partnerships and investments, Wheaton Precious Metals continues to expand its influence in the precious metals market.
Over the past three fiscal years, the company has demonstrated remarkable growth and profitability improvements. Revenue consistently increased at a robust CAGR of 52.2%, rising from $1.02 billion in 2023 to $2.36 billion in 2025. This growth was accompanied by significant margin expansion, with the gross margin improving by 15.7pp to 72.2%, and the operating margin increasing by 19.1pp to 68.8%. Despite some inconsistency, the net margin also improved by 10.7pp, reaching 63.6% by 2025. The company's earnings per share (EPS) grew inconsistently but impressively, with a CAGR of 66.3%, culminating at $3.29 in 2025. Cash generation was strong, with operating cash flow (OCF) increasing consistently at a 60.7% CAGR, and free cash flow (FCF) growing at an even more impressive 176.7% CAGR, reaching $573.6 million in 2025. The FCF margin improved by 17pp to 24.4%, indicating efficient cash conversion. The company maintained a net cash position, with net debt decreasing consistently from -$540.3 million to -$1.14 billion, underscoring its strong liquidity and financial health. Additionally, the interest coverage ratio increased significantly to 276.5x, reflecting robust earnings relative to interest obligations. Despite a slight increase in share count by 0.3%, the overall financial performance suggests strong operational execution and capital efficiency.
Wheaton Precious Metals Corp. is set to release its first-quarter 2026 financial results on May 7, 2026, after market close. The company is known for maintaining high cash operating margins, which supports its competitive dividend policy and growth through acquisitions. Analysts are optimistic about Wheaton's performance, with Zacks Investment Research suggesting the company might exceed earnings estimates again. The Motley Fool highlighted Wheaton as a strong buy due to its leverage to rising precious metal prices, which have been bolstered by central banks' increased gold purchases. In institutional trading, Moran Wealth Management LLC increased its stake in Wheaton by 8% during the fourth quarter, while AQR Capital Management LLC and Acadian Asset Management LLC initiated new positions in the first quarter. Conversely, Douglas Lane & Associates LLC reduced its holdings by 9% in the fourth quarter. These trading activities reflect routine portfolio adjustments. Overall, Wheaton's strategic positioning in the precious metals market and its robust financial framework continue to attract positive attention from analysts and investors alike.