Edison Investment Research - Wheaton Precious Metals Corp (WPM) Wheaton Precious Metals - Honing Q323 numbers

Report

Edison Investment Research

Alison Turner

Wheaton Precious Metals - Honing Q323 numbers

Wheaton Precious Metals’ (WPM’s) Q323 results are scheduled for 9 November. This note adjusts our forecasts – principally for Q3 – for metals prices ( 0.3% simple average for the quarter since our last note), Penasquito (returning to production from mid October, rather than end August), a new life of mine production profile at Constancia (in the aftermath of a site visit in late September) and production at Salobo, Sudbury and Voisey’s Bay (in the aftermath of Vale’s production and sales report on 17 October). We have also re-phased capital payments for Salobo III from FY23 to FY24 and FY25.

23/10/2023 1 EN

Underlying

Wheaton Precious Metals Corp

Wheaton Precious Metals is engaged in the silver mining business.

See profile

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.

See profile

Analysts

Alison Turner

Other Reports on these Companies

SmartInsider

Wheaton Precious Metals Corp: 3 directors

Three Directors at Wheaton Precious Metals Corp sold/sold after exercising options 20,800 shares at between 76.500CAD and 76.636CAD. The significance rating of the trade was 72/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trad...

Free Trial

57m 57m 1 EN

Edison Investment Research

Wheaton Precious Metals - A strong start to FY24

Wheaton’s (WPM’s) Q124 results exceeded both our and the market’s forecasts. It produced more (with the single exception of gold, which recorded a small negative variance in production) and sold more at higher prices than our prior expectations for the period. This led to a positive 5.6% (US$15.8m) variance in sales that was minimally counteracted by a US$0.8m negative variance in costs (including G&A costs) to result in a US$15.3m (10.3%) positive variance in pre-tax profits that, to all intents and purposes, fell straight through to the bottom line.

May 13, 2024 May 13, 2024 1 EN

Vermilion Research

Vermilion Compass: Weekly Equity Strategy

Long-Term Breakouts for Emerging & Frontier Markets The bullish outlook we initiated in early November 2023 remains intact. The S&P 500 and Nasdaq 100 (QQQ) still refuse to close below their 20-day MAs/21-day EMAs for more than 2-3 consecutive days -- and even if/when they do, important supports are close by, including at 4983-5050 on the S&P 500 and $425-$433 on QQQ (gap supports from 2/22/24). The Fed's next move is almost guaranteed to be a cut (though when it happens is up for debate). And we also continue to get an ever-increasing number of global indexes and Sectors with long-term break...

EUR 46.06

April 10, 2024 April 10, 2024 1 EN

Dentsu Group - FY24 prospects weighted to H2

Dentsu’s Q1 results indicate a slow start to the year, with organic net revenue down by 3.7%. However, prospects are improving, buoyed by new business wins and weighted to H2, which leave full year expectations (and our forecasts) unchanged. The One dentsu initiative, bringing together skill sets in consulting, technology, media and creative, is supporting improved pitch win rates, and giving greater coherence and consistency to the group product and service offering. We expect this to be a central element of the new management medium-term strategy, set to be unveiled during H2. The rating rem...

2h / 2m 2h / 2m 1 EN

Pedro Fonseca

Pedro Fonseca

Record - AUME momentum and a sharper focus

Record’s Q424 trading update demonstrated continued growth in assets under management equivalent (AUME), which will support management fee growth into FY25. In FY24, AUME grew 17% to US$102.2bn, setting a new milestone in business scale. Net inflows for FY24 were US$6.8bn (FY23: US$9.1bn) or 8% of opening AUME. Performance fees of US$5.8m matched the record FY23 figure, and we expect this to offset the negative product mix in FY24. We have reduced our FY24e EPS by 1%, which is affected by £2.4bn in IT restructuring and impairment charges announced in March 2024. New CEO Dr Jan Witte is putting...

17h / 40m 17h / 40m 1 EN

Sean Conroy

Sean Conroy

Actinogen Medical - Funding in place through key catalysts

Actinogen announced a capital increase of up to A$8.9m on 3 May, consisting of a A$5.0m (gross) placement along with a shareholder rights offering (‘entitlement offer’) designed to raise up to A$3.9m (gross) from existing shareholders. The closing date of the rights offer is 29 May and, given that Actinogen shares are currently trading at c A$0.028, we assume full exercise of the rights offering in Q424 (Q2 CY24). The company expects that the proceeds (assuming full exercise of the rights offering) will extend its operating runway beyond the interim results release of the first 100 patients of...

May 15, 2024 May 15, 2024 1 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

Wheaton Precious Metals - Honing Q323 numbers

Wheaton Precious Metals Corp: 3 directors

Wheaton Precious Metals - A strong start to FY24

Vermilion Compass: Weekly Equity Strategy

Dentsu Group - FY24 prospects weighted to H2

Record - AUME momentum and a sharper focus

Actinogen Medical - Funding in place through key catalysts

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe