Wheaton Precious Metals - Metals price moves de-risk valuation
While Wheaton’s production of gold and silver in Q219 was closely in line with – or even above – our expectations, temporary under-sales of both relative to production led to a US$6.3m negative variance in (underlying) net earnings and a 9.1% (or 1 cent) negative variance in EPS relative to our prior expectations. More significantly, given the improved metals price environment, we have upgraded our EPS forecasts for FY19 by 14% to 57c/share, which is now near the top of the range of analysts’ expectations, despite continuing to use gold prices that are 5% below spot, at US$1,416/oz and US$1,418 for Q3 and Q4, respectively. We also expect the quarterly dividend to be increased in Q4, from 9cps to 10cps.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.
.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.