Wheaton Precious Metals - Starting as it means to continue
Once again, Wheaton’s Q119 results were closely in line with our prior expectations, with the exception of a large oversale of gold relative to production, which broadly offset a large under-sale of silver to result in net earnings that were within 3.5% of our prior forecast for the quarter. Consistent with its policy, Wheaton Precious Metals (WPM) declared a dividend of US$0.09/share for the quarter to bring the total for the year to date to US$0.18/share. In recognition of a lower precious metal price environment in Q219 than previously expected plus production disruptions owing to illegal industrial action at Penasquito, we have revised our EPS forecasts for FY19 downwards by a very modest 5.6%, but continue to remain optimistic for the medium to longer term.Wheaton Precious Metals is engaged in the silver mining business.
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