Wheaton Precious Metals Corp. Earnings Recaps
Q2 2026
Aug 9, 2026
Wheaton Precious Metals shares rose 7.1% following Q2 results, driven by stronger-than-expected production and sales volumes, notably from the expanded Antamina silver stream and ongoing contributions from key growth assets.
Key takeaways
- Q2 production reached 202,000 gold equivalent ounces (GEOs), up 6% year-over-year, supported by the expanded Antamina silver stream and incremental output from Fenix, Hemlo, Mineral Park, Platreef, and Goose.
- Antamina silver production rose 56% year-over-year with Wheaton's share increasing to 67.5% following the BHP streaming transaction completed in April 2026.
- Sales volumes hit a first half 2026 record of 390,000 GEOs, positioning the company well within its 2026 guidance range of 860,000 to 940,000 GEOs.
- Growth strategy advanced with key deals including the largest-ever precious metal streaming transaction (Antamina) and new streams in Australia and Spain, expanding geographic and counterparty diversification.
- Balance sheet remains solid with $100 million cash on hand and full access to the $2.5 billion credit facility, underpinning financial flexibility for debt reduction and accretive streaming acquisitions.
Q1 2026
May 9, 2026
Wheaton Precious Metals’ shares rose 5.5% following Q1 results, driven by stronger-than-expected production and contributions from major assets Salobo, Peñasquito, and the newly added Antamina silver stream.
Key takeaways
- Total production increased 22% year-over-year to 212,000 GEOs, led by Salobo and Peñasquito outperforming prior period results.
- Salobo contributed 69,000 ounces of gold despite a 3% year-over-year grade decline, supported by higher throughput and recoveries.
- Antamina silver production surged 48% from 2025, reflecting higher grades and recoveries, with the new BHP silver stream effective April 1 adding significant volume.
- Peñasquito delivered a 46% increase in attributable silver, though a Q2 production dip is expected due to planned maintenance.
- Operational challenges at Blackwater included a seven-day mill shutdown, but strong grades helped offset lost throughput with full-year guidance maintained.