Wheaton Precious Metals - Continuing to beat expectations
Wheaton’s Q3 performance was characterised by a strong recovery in silver production coupled with a materially higher silver price to result in a record operating cash flow (of US$228.1m, or US$0.508/share), revenue and sales volumes in the first nine months of the year. One notable feature of the quarter was the absence of any inventory build among WPM’s gold assets, which contributed to revenues being 9.9% above our forecasts for the quarter, although this was partially offset by costs to result in basic EPS that were 5.0% ahead of our expectations.Wheaton Precious Metals is engaged in the silver mining business.
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