Core Viewpoint - Wheaton Precious Metals Corp. has entered into a Precious Metals Purchase Agreement with Allied Gold Corporation for the Kurmuk Project in Ethiopia, marking a significant step in advancing the construction of the first commercial gold mine in the country [1][2]. Transaction Key Terms - Wheaton Precious Metals International Ltd. will pay Allied a total upfront cash consideration of US$175 million in four equal installments during construction [3]. - Wheaton will purchase 6.7% of the payable gold until 220,000 ounces are delivered, after which the percentage will decrease to 4.8% for the life of the mine [3][9]. - The project is expected to average over 16,000 ounces of gold production per year for the first ten years, with first production anticipated in mid-2026 [3][7]. Production Profile - The Kurmuk Project is forecasted to have an 11-year mine life based on reserves, with significant exploration potential [3][7]. - The project aims for an average annual gold production of approximately 270,000 ounces over the first five years and over 240,000 ounces annually over a 10-year mine life, with all-in sustaining costs around US$1,000 per ounce [7]. Financial Position - As of September 30, 2024, Wheaton had approximately US$694 million in cash and access to a $2 billion revolving term loan, positioning the company well to fund the acquisition and other commitments [5]. Environmental and Social Governance - Allied is expected to comply with various international standards on environmental and social sustainability, indicating a commitment to ESG practices [4]. Project Overview - The Kurmuk Project is located in the Benishangul-Gumuz region of Ethiopia and involves a two-phase development plan with a total capital investment of approximately US$500 million [7].

Randy Smallwood, chief executive officer of Silver Wheaton Corp., speaks at the Prospectors & ... [+] Developers Association of Canada (PDAC) conference in Toronto, Ontario, Canada, on Sunday, March 5, 2023. Thousands of executives, investors, bankers and government officials are converging on Toronto over six days to attend one of the world's largest industry conferences as project pipelines shrink and companies face pressure to buy growth. Photographer: Christopher Katsarov Luna/Bloomberg© 2023 Bloomberg ...

Wheaton Precious Metals (WPM) reported adjusted earnings per share of 34 cents in third-quarter 2024, in line with the Zacks Consensus Estimate. The bottom line increased 32.7% year over year.Including one-time items, WPM reported earnings per share of 34 cents compared with earnings of 26 cents in the third quarter of 2023.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.WPM’s Q3 Revenues Gain on Higher PricesWheaton Precious generated revenues of around $308 million in the quarter, w ...

For the quarter ended September 2024, Wheaton Precious Metals Corp. (WPM) reported revenue of $308.25 million, up 38.1% over the same period last year. EPS came in at $0.34, compared to $0.27 in the year-ago quarter.The reported revenue represents a surprise of -5.03% over the Zacks Consensus Estimate of $324.57 million. With the consensus EPS estimate being $0.34, the company has not delivered EPS surprise.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- a ...

Wheaton Precious Metals Corp. (WPM) came out with quarterly earnings of $0.34 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.27 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this company would post earnings of $0.29 per share when it actually produced earnings of $0.33, delivering a surprise of 13.79%.Over the last four quarters, the company has surpassed consensus EPS estimates three times.Wheaton Precious ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.While many investors like to look for moment ...

Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Wheaton Precious Metals Corp. (WPM) , which belongs to the Zacks Mining - Miscellaneous industry. This company has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 18.97%. For the most recent quarter, Wheaton Precious Metals was expecte ...

VANCOUVER, BC, Oct. 9, 2024 /PRNewswire/ - Wheaton Precious Metals™ Corp. will release its 2024 third quarter results on November 7, 2024, after market close. RapidConnect URL: Click here Live webcast: Click here Dial toll free: 1-888-510-2154 or 1-437-900-0527 Conference Call ID: 48142 A conference call will be held on Friday, November 8, 2024, starting at 11:00 am ET (8:00 am PT) to discuss these results. To participate in the live call, please use one of the following methods: The accompanying slideshow ...

Company Overview - Wheaton Precious Metals Corp. (WPM) reached a 52-week high of $64.27 before closing at $61.30, driven by rising gold prices [1] - The company has a market capitalization of $28 billion and holds a Zacks Rank 3 (Hold) [1] Production Guidance - Wheaton Precious Metals anticipates a 40% increase in production over the next five years, expecting to exceed 800,000 GEOs by 2028 [2] - From 2029 to 2033, the company expects average attributable production to exceed 850,000 GEOs, factoring in additional production from various pre-development assets [4] Growth Drivers - Production growth will be primarily driven by operating assets such as Salobo, Antamina, Peñasquito, Voisey's Bay, and Marmato, along with several development projects [3] - The company has made strategic acquisitions, with eight acquisitions totaling over $1 billion in commitments in 2023, enhancing its growth plan [7] Financial Health - As of June 30, 2024, Wheaton Precious Metals is debt-free and has extended its undrawn $2 billion revolving credit facility, maturing on June 22, 2028 [5] - The company had $540 million in cash at the end of Q2 2024, with cash operating margins among the highest in the mining industry [5] Market Performance - Gold prices have increased by 25% year-to-date in 2024, reaching an all-time high of $2,600 per ounce, currently around $2,591 [8] - WPM shares have outperformed the industry, gaining 38.8% over the past year, while the industry has declined by 4.5% [10]

Core Viewpoint - Wheaton Precious Metals Corp. has launched the Future of Mining Challenge, offering US$1 million to support innovative technologies aimed at enhancing sustainability in the mining industry [1][2]. Group 1: Initiative Overview - The Future of Mining Challenge invites cleantech companies globally to propose solutions that can reduce greenhouse gas emissions in mining operations [2][3]. - The challenge emphasizes the need for scalable technologies applicable to both base and precious metal mining, aligning with Wheaton's commitment to sustainability [2][3]. Group 2: Company Commitment - Wheaton is dedicated to advancing technologies that improve operational efficiencies and minimize the environmental impact of mining activities [3]. - The company aims to ensure that mining can sustainably provide essential commodities for future generations [3]. Group 3: Support and Collaboration - Foresight Canada will support the challenge, focusing on identifying solutions that enhance productivity and profitability while addressing climate challenges [3][5]. - Foresight Canada has a track record of supporting over 1,280 companies, generating $511 million in revenue and creating over 8,760 green jobs [5]. Group 4: Timeline and Event - Applications for the Future of Mining Challenge will open on September 18, 2024, with the winner announced in March 2025 at the PDAC Convention in Toronto [3].