Wheaton Precious Metals Q2 Earnings Beat Estimates, Revenues Rise Y/Y
WPM Q2 Revenues Reflect Higher Metal Prices
Wheaton Precious Metals generated record revenues of around $503 million, which improved 68.3% on a year-over-year basis. The upside was caused by a 32% increase in average realized price and a 28% improvement in gold equivalent ounces (GEOs) sold. The top line beat the Zacks Consensus Estimate of $468 million.
In the second quarter, the average realized gold price was $3,318 per ounce. The figure was 40.8% higher than the year-ago quarter. Silver prices were $34.05 per ounce, up 17% year over year. Palladium prices were $996 per ounce compared with $979 per ounce in the prior-year quarter. Cobalt prices improved 16.1% year over year to $18.60 per pound.
Wheaton Precious Metals' Q2 Gold Equivalent Production Rises Y/Y
WPM's gold production was 91,968 ounces, up from the prior-year quarter's 83,743 ounces. Attributable silver production increased 7.1% year over year to 5,407 ounces, while palladium production fell 43.9% to 2,435 ounces. The company produced 158,608 GEOs in the June-end quarter, up 9.5% from the prior-year quarter's 144,904 GEOs.
Wheaton Precious Metals sold 157,916 GEOs, up 27.9% from the last-year quarter.
WPM's Margins Rise Y/Y in Q2
The total cost of sales was up 33% year over year to around $150 million in the second quarter. The gross profit surged 86.9% to $353 million. The gross margin was 70.2% in the reported quarter compared with 62.3% in the prior-year quarter.
General and administrative expenses increased 7.6% year over year to $11 million. Earnings from operations were $330 million, a 95.1% rise from $169 million in the second quarter of 2024.
Average cash costs in the second quarter of 2025 were $470 per GEO, up from $437 in the year-ago quarter. The cash operating margin increased 37% year over year to $2,717 per GEO sold due to a higher realized price per ounce.
Wheaton Precious Metals' Balance Sheet Updates
The company had around $1 billion of cash in hand at the end of the second quarter of 2025 compared with $0.83 billion at the end of 2024. It reported an operating cash flow of $415 million compared with $234 million in the prior-year quarter. The company has a $2-billion undrawn revolving credit facility. The maturity date has been extended to June 23, 2030.
WPM Reaffirms 2025 Outlook
Gold production is expected to be 350,000-390,000 ounces. Silver production is projected between 20.5 million and 22.5 million ounces. The production of other metals is anticipated to be 12,500-13,500 GEOs.
Wheaton Precious Metals Stock's Price Performance
Shares of Wheaton Precious Metals have gained 77.7% in the past year compared with the industry's 15.7% growth.
Image Source: Zacks Investment Research
WPM's Zacks Rank
Wheaton currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Wheaton Precious Metals' Peer Performances
Kinross Gold CorporationKGC reported adjusted earnings of 44 cents per share compared with the prior-year quarter's 14 cents. The bottom line beat the Zacks Consensus Estimate of 33 cents.
Kinross Gold's revenues rose 41.7% year over year to $1,728.5 million in the second quarter. It topped the Zacks Consensus Estimate of $1,347.3 million. The rise is attributed to a higher average realized gold price.
Agnico Eagle Mines LimitedAEM reported adjusted earnings of $1.94 per share for the second quarter of 2025, up from $1.07 in the year-ago quarter. The bottom line topped the Zacks Consensus Estimate of $1.83.
Agnico Eagle Mines generated revenues of $2,816.1 million, up 35.6% year over year. The top line surpassed the Zacks Consensus Estimate of $2,553 million.
Teck Resources LimitedTECK came out with earnings of 27 cents per share in the second quarter of 2025, beating the Zacks Consensus Estimate of 2 cents. This compares with earnings of 58 cents per share a year ago.
Teck Resources posted revenues of $1.46 billion in the quarter, missing the Zacks Consensus Estimate by 8.7%. This compares with year-ago revenues of $2.83 billion.
See our %%CTA_TEXT%% report – free today!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
This article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CTV News
12 minutes ago
- CTV News
Calgary advocates for mega rail projects to make Ottawa's shortlist for major builds
Calgary has a wish list for major infrastructure projects needing support from Ottawa, and Alberta is also pushing for pipelines to make the cut. As the prime minister considers nation-building projects to fast-track, Calgary is hoping a pair of regional proposals make the list. In a number of letters to Mark Carney and his government, Calgary Mayor Jyoti Gondek says two projects should be streamlined through the Building Canada Act: Prairie Economic Gateway and a passenger rail link between Calgary and Banff. 'The West has been forgotten and ignored for far too long, and it is critical that we demonstrate what kind of projects we are ready to move on,' Gondek said Monday. 'We are able to move people if we get the passenger rail, we are able to move goods with Prairie Economic Gateway and a pipeline is something that we have long been advocating for.' In a letter to the federal energy and intergovernmental affairs minister, Gondek called for a meeting in order to advocate for Prairie Economic Gateway, a massive proposal to build an inland port along a rail line southeast of the city. The plan, which is part of an agreement with Rocky View County, would see industrial and manufacturing hubs developed along the rail corridors in order to ship goods across North America. Last month, Gondek also signed a letter with the mayors of Banff, Cochrane and Canmore to urge Ottawa to consider a passenger rail link between the Calgary airport and Banff as a project to streamline. 'To get four mayors to look regionally, beyond their municipal boundaries, is a big achievement, and it's an important message that's being sent both to the province and to the federal government,' said Bruce Graham, the executive director of the Calgary Airport-Banff Rail group. As the prime minister considers nation-building projects to fast-track, Calgary is hoping a pair of regional proposals make the list. As the prime minister considers nation-building projects to fast-track, Calgary is hoping a pair of regional proposals make the list. The Carney government recently passed Bill C-5, which gives Ottawa the power to fast-track projects meant to boost the national economy. The prime minister has asked premiers to indicate projects they'd like to see considered under the new legislation. While mayors in the region push for rail, Alberta Premier Danielle Smith has repeatedly pushed for pipelines to be considered. Gondek says it should not be one or the other. 'A pipeline is something that we have long been advocating for, so it can't just be one thing. We need to talk about everything that the West can deliver,' she said. In a statement, Alberta's transportation minister says the province's Master Rail Plan is expected to be made public by the end of the summer. 'Alberta welcomes advocacy from municipalities on major projects that can strengthen our province's economy and transportation network. We are always open to working with our municipal and federal partners to identify national interest projects,' the statement read. 'Our government is finalizing Alberta's first Master Rail Plan, which will provide a long-term strategy for expanding rail capacity across the province. This plan will help us evaluate opportunities, including passenger and freight rail connections, and ensure Alberta's transportation corridors remain competitive, efficient and ready to serve the needs of Albertans.'
CTV News
12 minutes ago
- CTV News
Historic Bell Mansion in search of new owners to ‘reinvent,' ‘reimagine' its future
Northern Ontario News Historic Bell Mansion in search of new owners to 'reinvent,' 'reimagine' its future The 118-year-old Bell Mansion, a heritage site on 2.1 acres near Bell Park, is up for sale. Laurentian University now seeks a buyer to restore the 8,000-sq.-ft.
CTV News
12 minutes ago
- CTV News
Air Canada flight attendants picket outside YYC ahead of possible strike
Air Canada flight attendants picketed at four major airports, including YYC, after over 99 per cent of union members voted in favour of striking. Air Canada flight attendants picketed outside Calgary International Airport after more than 99 per cent of union members voted in favour of striking if negotiations for fair pay don't produce a deal by the end of the week. 'An entry-level flight attendant at Air Canada makes $1,952 a month. They have to live in Calgary, Montreal, Toronto and Vancouver,' said Brittany Thomas, vice-president of CUPE Local 4095, the union that oversees the workers. Some of the roughly 400 Air Canada flight attendants based out of Calgary walked out Monday morning, carrying signs of protest as their counterparts in Vancouver, Montreal and Toronto did the same. It was an hour-long demonstration they called 'a day of action,' meant to raise awareness about their pay. 'These levels of wages are absolutely unacceptable, especially coming out of a 10-year contract and especially considering how much Air Canada has profited,' said Daylen Mitansky, also with CUPE 4095 and a service director with Air Canada. Along with higher wages, they want to be paid for all of their work. Right now, they're only compensated for the time the plane is in the air and often do hours of unpaid work each day. 'You could be on duty for 12 to 13 hours, and your credit could be just under seven hours—six and a half,' said Thomas. John Gradek, a professor in aviation management with McGill University, said the pay is supposed to offset those unrecognized hours, but the contract signed 11 years ago lags far behind inflation. 'The cost of living, as we all know, has gone off the deep end, and that's why I'm basically saying 30 [to] 35 per cent in a wage increase is not unheard of for this group,' he said. Air Canada flight attendants picketed outside Calgary International Airport after more than 99 per cent of union members voted in favour of striking if negotiations for fair pay don't produce a deal by the end of the week. Air Canada flight attendants picketed outside Calgary International Airport after more than 99 per cent of union members voted in favour of striking if negotiations for fair pay don't produce a deal by the end of the week. The old ways are also changing, with Delta Airlines in the United States being the first to start paying wages pre- and post-flight. 'Flight attendants now have a precedent that's been set,' said Gradek. 'Air Canada is a canary in a coal mine in this one; they're the first guys out, and we'll see how CUPE manages the Air Canada negotiators over the next few days.' Contract talks with the airline started at the beginning of the year, and workers have now voted almost unanimously to strike if there isn't a deal soon. An Air Canada statement says it is 'determined to reach a fair and equitable collective agreement that recognizes the contributions of its flight attendants and supports the competitiveness and long-term growth of the company.' Air Canada flight attendants picketed outside Calgary International Airport after more than 99 per cent of union members voted in favour of striking if negotiations for fair pay don't produce a deal by the end of the week. Air Canada flight attendants picketed outside Calgary International Airport after more than 99 per cent of union members voted in favour of striking if negotiations for fair pay don't produce a deal by the end of the week. While bargaining talks continue, travellers at YYC are taking it in stride. 'Nobody likes to be held up, especially at an airport, but if it's in their right to do so, then it's OK for them to do it,' said Gary Loo. 'They've probably got just cause. I'm sure it's working conditions. I'm sure it's too many hours, not enough pay,' said Janine Thompson. 'All for them to have more money and everything. They're all pleasant, and I enjoy flying with them,' said Janette Davis. A strike could happen as early as this weekend. There would have to be at least 72 hours' notice, and experts say if you are impacted, don't try to change your flight before it is cancelled, or you won't qualify for full compensation. If a strike impacts your flight, the airline must find you an alternate solution. You get to decide whether or not you like their suggestion, and if you don't, you can get a full refund. With files from The Canadian Press
