Wheaton Precious Q3 Earnings & Revenues Beat Estimates, Shares Up 8%

Shares of Wheaton Precious Metals Corp. WPM have gained 8% since reporting adjusted earnings per share of 62 cents in third-quarter 2025 on Nov. 6, surpassing the Zacks Consensus Estimate of 59 cents. The bottom line surged 83.7% year over year.

WPM’s Q3 Revenues Reflect Higher Metal Prices

Wheaton Precious generated revenues of around $476 million in the quarter, which rose 54.5% on a year-over-year basis. The year-over-year increase was attributed to higher average realized gold equivalent prices and gold equivalent ounces (GEOs) sold. The top line beat the Zacks Consensus Estimate of $471 million.

In third-quarter 2025, the average realized gold price was $3,481 per ounce. The figure was 39.7% higher than the year-ago quarter. Silver prices were $39.66 per ounce in the reported quarter, up 33.5% year over year. Palladium prices were $1,173 per ounce, up 21.1% from $969 in the prior-year quarter. Cobalt prices increased 70.8% year over year to $18.19 per pound.

Wheaton Precious’ Q3 GEOs Rise Y/Y

Attributable gold production in the quarter was 100,090 ounces, up 15.3% from the prior-year quarter. The figure beat our gold production projection of 94,165 ounces for the quarter.

Attributable silver production rose 32.2% year over year to 5,999 thousand ounces in the quarter. Production beat our silver production estimate of 5,691 thousand ounces.

The company sold 137,563 GEOs in the quarter, up 12.5% year over year. It produced 173,415 GEOs compared with 142,716 GEOs in the third quarter of 2024.

WPM’s Margins Rise Y/Y in Q3

The total cost of sales rose 26.6% year over year to around $140 million in the reported quarter. The gross profit surged 70.2% to $336 million.

General and administrative expenses increased 9.9% year over year to $10.4 million. Earnings from operations in the quarter under review were $315.5 million, a 79.3% surge from $176 million in the third quarter of 2024.

Average cash costs in the third quarter of 2025 were $532 per GEO, up from $439 in the year-ago quarter. The cash operating margin increased 41% year over year to $2,930 per GEO sold due to a higher realized price per ounce.

Wheaton Precious’ Q3 Financial Position

The company had $1.16 billion of cash in hand at the end of the third quarter of 2025 compared with $0.82 billion at the end of 2024. It reported an operating cash flow of $383 million in the quarter under review compared with $254 million in the prior-year quarter.

WPM had a debt-free balance sheet as of Sept. 30, 2025. The company has a $2-billion undrawn revolving credit facility.

WPM Reaffirms 2025 Outlook

Gold production is expected to be 350,000-390,000 ounces. Silver production is projected between 20.5 million and 22.5 million ounces. The production of other metals is anticipated to be 12,500-13,500 GEOs.

Wheaton Precious Metals Stock’s Price Performance

Shares of the company have soared 75.8% in the past year compared with the industry’s 19.7% growth.

Image Source: Zacks Investment Research

WPM’s Zacks Rank

Wheaton Precious currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Wheaton Precious Metals’ Peer Performances

Newmont Corporation NEM reported third-quarter 2025 adjusted earnings of $1.71 per share, up from 81 cents in the prior-year quarter. It topped the Zacks Consensus Estimate of $1.29.

NEM’s revenues for the third quarter were $5.52 billion, up roughly 20% from $4.61 billion in the prior-year quarter. The figure topped the Zacks Consensus Estimate of $4.97 billion. The increase in the top line was primarily due to higher year-over-year realized gold prices.

Agnico Eagle Mines Limited AEM posted adjusted earnings of $2.16 per share for the third quarter of 2025, up from $1.14 in the year-ago quarter. The bottom line topped the Zacks Consensus Estimate of $1.76.

Agnico Eagle Mines generated revenues of $3.06 billion, up 41.9% year over year. The top line surpassed the Zacks Consensus Estimate of $2.73 billion.

Kinross Gold Corporation KGC registered adjusted earnings of 44 cents per share compared with the prior-year quarter’s 24 cents. The bottom line beat the Zacks Consensus Estimate of 39 cents.

Kinross Gold’s revenues rose 25.8% year over year to $1.80 billion in the third quarter. It topped the Zacks Consensus Estimate of $1.53 billion.

Quantum Computing Stocks Set To Soar

Artificial intelligence has already reshaped the investment landscape, and its convergence with quantum computing could lead to the most significant wealth-building opportunities of our time.

Today, you have a chance to position your portfolio at the forefront of this technological revolution. In our urgent special report, Beyond AI: The Quantum Leap in Computing Power, you'll discover the little-known stocks we believe will win the quantum computing race and deliver massive gains to early investors.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research

Source Zacks-com