Wheaton posts $582m quarterly net earnings among multiple Q1 financial records
London-, Toronto-, and New York-listed streaming company Wheaton Precious Metals started the 2026 financial year off strong with a record $901-million of quarterly revenue generated, as well as a record $582-million in net earnings, a record $583-million in adjusted net earnings and a record $766-million in operating cash flow.
These amounts were $470-million, $253-million, $250-million and $360-million, respectively, in the quarter ended March 31, 2025, marking increases of between 91% and 132% year-on-year.
The group declared a dividend of $0.195 apiece for the three months ended March 31.
Wheaton’s attributable production was 211 951 gold-equivalent ounces (GEOs) in the quarter, compared with 174 391 GEOs in the same quarter last year.
The company’s attributable production in the quarter included a 4.8% year-on-year rise in gold production to 97 106 oz, a 41% rise in silver to 6 636 oz, a 21.6% rise in cobalt to 657 lb and a 2.6% year-on-year decrease in palladium to 2 591 oz.
The group reported increased production in the quarter at the Peñasquito, Antamina and Blackwater mines, coupled with the restart of production at Aljustrel. Wheaton also received first deliveries from the Hemlo, Fenix and Mineral Park purchase agreements in the quarter under review.
Wheaton currently has streaming and royalty agreements on 22 operating mines and 26 development and other projects.
Notably, about 80% of attributable production from assets are in the lowest half of their respective cost curves.
Wheaton’s estimated attributable production for the full-year is set at between 400 000 oz and 430 000 oz of gold, 27-million to 29-million ounces of silver and 19 000 to 21 000 GEOs of other metals, for full-year attribitable gold-equivalent production of between 860 000 oz and 940 000 oz.
The group’s yearly attributable production is expected to increase by about 50% to 1.2-milllion GEOs by 2030.
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