9 stories mentioning WPM.TO
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RBC Precious Metals Price Target Changes Brief: Kinross To US$40 From $45; FNV To US$295 From $320; TFPM To US$38 From $44; OR To US$50 From $56; WPM To US$165 From $200
Valuations of gold royalty companies have contracted especially for mid/small cap companies including Triple Flag Precious Metals (TFPM.TO) and OR Royalties (OR.TO), RBC Capital Markets said Wednesday.OR's shares trade at the lowest valuation across the royalty group and a larger discount to historical valuation levels, RBC said.The market value of larger cap royalty companies including Wheaton Precious Metals (WPM.TO) and Franco-Nevada (FNV.TO) valuation has been more resilient, according to RBC.Meanwhile, valuations of senior producers including Agnico Eagle (AEM.TO) have converged.Barrick's (ABX.TO) shares have begun to outperform peers following its positive first-quarter results, resumption of its buyback program, and potential upside from its planned initial public offering in North America.Price: $42.55, Change: $-1.09, Percent Change: -2.50%
Wheaton Precious Metals (WPM.TO, WPM) was up 2.3% in after-hours New York trading after the company on Thursday reported a higher adjusted profit and record revenue for the first quarter.The company's adjusted earnings, excluding most one-time items, rose to US$582.78 million, or US$1.28 per share, in the period, up from US$250.83 million, or US$0.55, a year ago. FactSet expected US$1.24 per share.Revenue rose 92% to US$901.57 million from US$470.41 million in the year-prior quarter. FactSet projected US$868.4 million.The company also declared a quarterly dividend of US$0.195 per share, payable June 9 to shareholders of record on May 27.Wheaton said it delivered attributable gold equivalent production of 212,000 ounces in the first quarter of 2026, a 22% increase, primarily due to increased production from Penasquito, Antamina and Blackwater coupled with the recommencement of production at Aljustrel.Wheaton's estimated attributable production in 2026 is forecast to be 400,000 to 430,000 ounces of gold, 27 million to 29 million ounces of silver, and 19,000 to 21,000 GEOs of other metals, resulting in annual production of approximately 860,000 to 940,000 GEOs, unchanged from previous guidance.Approximately 3% of the company's forecast 2026 production is estimated to be delivered from assets currently in construction or various stages of ramp-up.Annual production is forecast to increase by approximately 50% to 1.20-million GEOs by 2030, with average annual production forecast to remain at 1.20-million GEOs in years 2031 to 2035, also unchanged from previous guidance."Wheaton delivered a strong start to 2026, with Salobo and Penasquito outperforming expectations and contributing to record quarterly revenue, earnings and cash flow," said chief executive Haytham Hodaly. "During the first quarter, we announced our largest streaming transaction to date at Antamina in partnership with BHP and subsequently entered into our first streaming agreement in Australia with KGL Resources. These transactions expand our geographic footprint and broaden our counterparty base, while further demonstrating the flexibility of the streaming model as a means of unlocking value from non-core precious metals," Hodaly added.The company's shares were last seen up US$2.97 to US$134.53 after hours. They closed down C$3.80 to C$179.63 on the Toronto Stock Exchange.
Spanish Mountain Gold (SPA.V) closed the first tranche of its previously announced royalty sale to Wheaton Precious Metals Corp. (WPM.TO, WPM), the company said over the weekend.As part of the first tranche closing, the company received US $22.5 million from Wheaton. A further US$32.5 million is available to the company under the terms of the Royalty Financing following the satisfaction of certain conditions precedent, it added.Shares in SPA were up 5% and nearer to 52 week highs in Canada last Friday.
Spanish Mountain Gold (SPA.V) on Tuesday said it has entered into a royalty agreement with Wheaton Precious Metals (WPM.TO) on the Spanish Mountain Gold project for total cash proceeds of US$55 million.Under the agreement, Wheaton will acquire a 1.5% net smelter returns royalty on gold and silver production from the Spanish Mountain Gold project in British Columbia.The proceeds will be paid in three installments. The first installment of $22.5 million will be received in the next few weeks. The second installment of $12.5 million is payable following the completion of 60,000 meters of drilling. The third installment of $20 million is payable on the receipt of approvals for the construction, development and operation of a mine at the project.Spanish Mountain Gold may buy back one-third of the NSR if it undergoes a change of control prior to Dec. 31, 2030, or the achievement of a completion test based on actual throughput at the mine compared to the target, whichever comes earlier.If the company has not fully achieved the completion test on or before April 1, 2030, the percentage of the NSR will increase up to 0.15%, unless the company chooses to pay Wheaton $16 million.