Wheaton Precious Metals Corp. WPM reported adjusted earnings per share of 63 cents in second-quarter 2025, which surpassed the Zacks Consensus Estimate of 58 cents. The bottom line surged 90.9% year over year.

WPM Q2 Revenues Reflect Higher Metal Prices

Wheaton Precious Metals generated record revenues of around $503 million, which improved 68.3% on a year-over-year basis. The upside was caused by a 32% increase in average realized price and a 28% improvement in gold equivalent ounces (GEOs) sold. The top line beat the Zacks Consensus Estimate of $468 million.In the second quarter, the average realized gold price was $3,318 per ounce. The figure was 40.8% higher than the year-ago quarter. Silver prices were $34.05 per ounce, up 17% year over year. Palladium prices were $996 per ounce compared with $979 per ounce in the prior-year quarter. Cobalt prices improved 16.1% year over year to $18.60 per pound.

Wheaton Precious Metals’ Q2 Gold Equivalent Production Rises Y/Y

WPM’s gold production was 91,968 ounces, up from the prior-year quarter’s 83,743 ounces. Attributable silver production increased 7.1% year over year to 5,407 ounces, while palladium production fell 43.9% to 2,435 ounces. The company produced 158,608 GEOs in the June-end quarter, up 9.5% from the prior-year quarter’s 144,904 GEOs.

Wheaton Precious Metals sold 157,916 GEOs, up 27.9% from the last-year quarter.

Wheaton Precious Metals Corp. Price, Consensus and EPS Surprise

 

Wheaton Precious Metals Corp. Price, Consensus and EPS Surprise

Wheaton Precious Metals Corp. price-consensus-eps-surprise-chart | Wheaton Precious Metals Corp. Quote

WPM’s Margins Rise Y/Y in Q2

The total cost of sales was up 33% year over year to around $150 million in the second quarter. The gross profit surged 86.9% to $353 million. The gross margin was 70.2% in the reported quarter compared with 62.3% in the prior-year quarter.General and administrative expenses increased 7.6% year over year to $11 million. Earnings from operations were $330 million, a 95.1% rise from $169 million in the second quarter of 2024.Average cash costs in the second quarter of 2025 were $470 per GEO, up from $437 in the year-ago quarter. The cash operating margin increased 37% year over year to $2,717 per GEO sold due to a higher realized price per ounce.

Wheaton Precious Metals’ Balance Sheet Updates

The company had around $1 billion of cash in hand at the end of the second quarter of 2025 compared with $0.83 billion at the end of 2024. It reported an operating cash flow of $415 million compared with $234 million in the prior-year quarter. The company has a $2-billion undrawn revolving credit facility. The maturity date has been extended to June 23, 2030.

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 Wheaton Precious Metals have gained 77.7% in the past year compared with the industry’s 15.7% growth.

 

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 WPM’s Zacks Rank

Wheaton 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

Kinross Gold Corporation KGC reported adjusted earnings of 44 cents per share compared with the prior-year quarter’s 14 cents. The bottom line beat the Zacks Consensus Estimate of 33 cents.Kinross Gold’s revenues rose 41.7% year over year to $1,728.5 million in the second quarter. It topped the Zacks Consensus Estimate of $1,347.3 million. The rise is attributed to a higher average realized gold price.Agnico Eagle Mines Limited AEM reported adjusted earnings of $1.94 per share for the second quarter of 2025, up from $1.07 in the year-ago quarter. The bottom line topped the Zacks Consensus Estimate of $1.83.Agnico Eagle Mines generated revenues of $2,816.1 million, up 35.6% year over year. The top line surpassed the Zacks Consensus Estimate of $2,553 million.Teck Resources Limited TECK came out with earnings of 27 cents per share in the second quarter of 2025, beating the Zacks Consensus Estimate of 2 cents. This compares with earnings of 58 cents per share a year ago.Teck Resources posted revenues of $1.46 billion in the quarter, missing the Zacks Consensus Estimate by 8.7%. This compares with year-ago revenues of $2.83 billion.

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