Wheaton Precious Metals - Good operations offset by prices & finance costs
Production of gold, silver and palladium attributable to WPM from its streaming assets were all better than our expectations in Q3, as a result of which the company expects to exceed its previous guidance for FY18. Gold once again surpassed silver as WPM’s biggest sales contributor. However, the company’s financial performance was restrained by a 122.1% increase in financing costs, as net debt increased by 46.0% after WPM’s investment of US$500m in the Stillwater stream earlier this year.Wheaton Precious Metals is engaged in the silver mining business.
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