Core News Facts
Wheaton Precious Metals (NYSE: WPM), based in Vancouver, reported a revenue of $476 million for Q3 2025, marking a 54% increase year-over-year. The company’s net earnings reached $367.2 million, up 137.5% compared to the same period last year, driven by a 15.3% increase in gold production and a 32.2% rise in silver production. Notably, Wheaton’s operating cash flow was $382.9 million, representing a 50.6% growth from Q3 2024.
Despite these production increases, the substantial growth in earnings is attributed primarily to a rise in gold and silver prices, with gold prices hitting approximately $4,300 per ounce—up 184% over five years—and silver at around $65 per ounce—up 256% over the same period. Wheaton holds $1.2 billion in cash and reported a quarterly dividend of $0.17 per share, yielding 0.56%.
Over the past year, Wheaton has outperformed the S&P 500 significantly, returning over 100% compared to the S&P’s 15%. The company is currently aiming to expand its portfolio by investing in new streaming contracts, having allocated $250 million toward three new contracts in Q3 2025.
