WS Investor
07 Aug 2026, 10:02
Wheaton Precious Metals Stock Rises 2.7% After Record Q2 Results
Wheaton Precious Metals (NYSE: WPM) shares are up about 2.7% in premarket trading Friday after the company reported record second-quarter revenue, earnings and operating cash flow, benefiting from higher precious-metals prices and increased production.
Revenue reached a record $929 million, up $426 million from a year earlier, driven primarily by a 61% increase in the average realized gold-equivalent price and a 14% increase in gold-equivalent ounces sold. Net earnings reached $543 million, while operating cash flow climbed to a record $650 million.
Higher Gold and Silver Prices Boost Margins
Wheaton produced 202,200 gold-equivalent ounces during Q2, up 6% year over year. The increase was supported by the expanded Antamina silver stream and new production from Hemlo, Fenix, Platreef and Goose.
The company's cash operating margin reached $3,875 per gold-equivalent ounce, up 65% from last year despite higher cash costs. Silver accounted for 52% of quarterly revenue and gold for 46%, leaving Wheaton well positioned to benefit from the recent strength across precious metals.
First-half results were also records, with $1.8 billion in revenue, $1.1 billion in net earnings and $1.4 billion in operating cash flow.
Precious Metals Rally Adds Support
Friday's gain is also being supported by the broader precious-metals rally. Gold futures are up more than 1%, while silver has surged around 3%, strengthening the earnings outlook for companies with significant exposure to metal prices.
Wheaton's combination of record financial results, rising production and strong gold and silver prices appears to be driving the positive premarket reaction.
Wheaton Precious Metals (NYSE: WPM) shares are up about 2.7% in premarket trading Friday after the company reported record second-quarter revenue, earnings and operating cash flow, benefiting from higher precious-metals prices and increased production.
Revenue reached a record $929 million, up $426 million from a year earlier, driven primarily by a 61% increase in the average realized gold-equivalent price and a 14% increase in gold-equivalent ounces sold. Net earnings reached $543 million, while operating cash flow climbed to a record $650 million.
Higher Gold and Silver Prices Boost Margins
Wheaton produced 202,200 gold-equivalent ounces during Q2, up 6% year over year. The increase was supported by the expanded Antamina silver stream and new production from Hemlo, Fenix, Platreef and Goose.
The company's cash operating margin reached $3,875 per gold-equivalent ounce, up 65% from last year despite higher cash costs. Silver accounted for 52% of quarterly revenue and gold for 46%, leaving Wheaton well positioned to benefit from the recent strength across precious metals.
First-half results were also records, with $1.8 billion in revenue, $1.1 billion in net earnings and $1.4 billion in operating cash flow.
Precious Metals Rally Adds Support
Friday's gain is also being supported by the broader precious-metals rally. Gold futures are up more than 1%, while silver has surged around 3%, strengthening the earnings outlook for companies with significant exposure to metal prices.
Wheaton's combination of record financial results, rising production and strong gold and silver prices appears to be driving the positive premarket reaction.
