Edison Investment Research - Wheaton Precious Metals Corp (WPM) Wheaton Precious Metals - Guidance changes already anticipated

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Edison Investment Research

Alison Turner

Wheaton Precious Metals - Guidance changes already anticipated

Underlying net earnings in Q222 were 4.4% above our forecasts. In general terms, Wheaton Precious Metals (WPM) produced 162,569 gold equivalent ounces (GEOs) during the quarter, which was 4.0% below our prior forecast, but sold 170,371 GEOs (which was 11.6% above) as a result of a 27,412 GEO draw down in the number of ounces produced but not yet delivered. Although WPM reduced its output guidance for FY22 as a consequence of lower production at Salobo and Stillwater and the sale of its Keno Hill stream, this was only to levels that Edison had already broadly anticipated in its last note (681.5koz GEOs cf updated guidance of 640–680koz GEOs). Given intervening precious metals price movements, this has actually resulted in us modestly increasing our financial forecasts for FY22.

16/08/2022 1 EN

Underlying

Wheaton Precious Metals Corp

Wheaton Precious Metals is engaged in the silver mining business.

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CA9628791027 Toronto Stock Exchange Canada

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Alison Turner

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Wheaton Precious Metals - Guidance changes already anticipated

Wheaton Precious Metals Corp: 3 directors

Wheaton Precious Metals - A strong start to FY24

Vermilion Compass: Weekly Equity Strategy

Basilea Pharmaceutica - Cresemba milestone payments continue to roll in

AAC Clyde Space - Solid start to the year with further order growth

Tinexta - Typical seasonality in Q124

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