For the second quarter in succession, Wheaton Precious Metals (WPM) has announced record revenue, adjusted earnings and operational cash flows, posting adjusted net EPS that was 7.7% better than our forecast and above the top of analysts' expectations (source: LSEG Data & Analytics, 7 August). The main reasons for the outperformance were a 12.8% positive variance in silver production coupled with a 5.0% positive variance in gold sales, which were 7.6% (or 7,005oz) above production for the quarter. Together, these drove a US$38.6m (8.3%) positive variance in revenue, only partially offset by a US$12.1m negative variance in costs, resulting in a US$20.4m positive variance in earnings and a 4.5c positive variance in adjusted net EPS. As a result, we have upgraded our FY25 adjusted net EPS forecast by 2.1c/share (0.9%). At current metals prices, our FY26 EPS estimate rises by 84.0% from that shown below to US$2.65/share.Den vollständigen Artikel lesen ...
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