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NEW YORK - Wheaton Precious Metals Corp. (NYSE:WPM) reported fourth quarter earnings that met analyst expectations, while revenue fell short of estimates. The stock edged up 0.5% following the release.
The precious metals streaming company posted adjusted earnings per share of $0.44 for the quarter, in line with the consensus estimate. Revenue came in at $381 million, below analyst projections of $394.97 million.
Wheaton achieved record quarterly revenue of $381 million, up 21.4% YoY, driven by higher realized gold equivalent prices. The company reported record quarterly gold production of 117,526 ounces, up 4.1% YoY.
"Wheaton achieved record revenue, adjusted net earnings and operating cash flow in 2024, driven by our diversified portfolio of high-quality and long-life assets," said Randy Smallwood, President and CEO of Wheaton Precious Metals.
For the full year 2024, Wheaton reported record revenue of $1.28 billion, up 26.4% from 2023. The company exceeded its 2024 production guidance, producing 635,007 gold equivalent ounces.
Looking ahead, Wheaton provided 2025 production guidance of 600,000 to 670,000 gold equivalent ounces. The company forecasts production to increase approximately 40% over the next five years to 870,000 gold equivalent ounces by 2029.
Wheaton declared a quarterly dividend of $0.165 per share for 2025, representing a 6.5% increase over the 2024 quarterly dividend.
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