Wheaton Precious Metals Corp. (WPM) AI Stock Analysis

Wheaton Precious Metals Corp. is a streaming company that specializes in the sale of precious metals in Canada and internationally. It primarily deals in gold, silver, palladium, and cobalt deposits. The company holds interests in 23 operating mines and 13 development projects. Formerly known as Silver Wheaton Corp. before rebranding in May 2017, the Vancouver-based company secures long-term purchase agreements with mining operators. This business model allows Wheaton to purchase metal production at fixed costs, securing a stable supply of precious metals across global mining operations.

Revenue increased from $1.20B in FY2021 to $2.31B in FY2025, supported by an 80.2% surge in FY2025 following 26.4% growth in FY2024. Operating margin expanded from 48.3% in FY2024 to 68.8% in FY2025, while net margin reached 63.6% alongside net income of $1.47B. For the trailing twelve months, revenue reached $3.17B with an operating margin of 72.3% and EPS of $4.51. In the latest quarter ended June 30, 2026, quarterly revenue grew 84.7% year-over-year, and quarterly earnings grew 85.7%.

As of June 30, 2026, Wheaton held $100.2M in cash and short-term investments against total debt of $1.98B, resulting in net debt of $1.88B. Shareholders' equity stood at $9.69B, with a debt-to-equity ratio of 0.20 and a current ratio of 0.47. In FY2025, operating cash flow reached $1.91B and free cash flow was $563.7M. Capital allocation in FY2025 included capital expenditures of $1.34B and dividends paid of $296.4M, with share issuance generating $7.3M.

Wheaton trades at a trailing P/E of 29.8x and a forward P/E of 26.1x, above the median of its US-listed Basic Materials peers at 19.7x and 13.4x, respectively. Its enterprise value to EBITDA multiple of 24.5x also trades at a premium to the peer median of 10.5x, reflecting an operating margin of 72.3% versus the peer median of 18.5%. Over the past year, the stock returned 18.9% compared to 16.8% for SPY, while its 5-year return of 245.6% outperformed the index return of 83.0%.

Wheaton offers an annual forward dividend of $0.78 per share, yielding 0.58% with a payout ratio of 17.4%. Dividends are distributed quarterly and have been paid for 16 consecutive years. The company has delivered a 5-year annualized dividend growth rate of 9.5%, with the most recent ex-dividend date on August 20, 2026.

Wall Street sentiment is positive, with 11 Strong Buy ratings, 5 Buy ratings, and no Hold or Sell recommendations. The mean price target of $178.21 suggests upside of 32.8% from the last close of $134.18. For FY2026, analysts estimate EPS of $4.69 on revenue of $3.65B, followed by FY2027 estimates of $5.09 EPS on $4.05B revenue. The company beat EPS estimates in each of the last 4 quarters, and the next earnings date is November 5, 2026.

This page is an AI-written research summary of Wheaton Precious Metals Corp. (WPM). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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