Wheaton Precious Metals - Barely missing a beat
Although below the levels of Q1 – unsurprisingly, given the emergence of the worst manifestations of the coronavirus during the quarter – Wheaton’s Q2 results were nevertheless materially above our expectations, as all six of its partners’ disrupted operations returned to production, to a greater or lesser extent, during the period. As a result, EPS that was almost identical to Q120 (which was largely unaffected by COVID-19). In conjunction with the strength of precious metals since our last note, this has caused us to upgrade our EPS forecasts for both FY20 and FY21 by 40% and 58%, respectively.Wheaton Precious Metals is engaged in the silver mining business.
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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