Wheaton Precious Metals Corp (NYSE:WPM) stock rose 1.32% (As on March 14, 11:29:38 AM UTC-4, Source: Google Finance) after the company posted inline earnings for the fourth quarter of FY24. Average cash costs in the fourth quarter of 2024 were $441 per GEO as compared to $437 in the fourth quarter of 2023. This resulted in a cash operating margin of $2,228 per GEO sold, an increase of 41% as compared with the fourth quarter of 2023, a result of the higher realized price per ounce. Operating cash flow in the fourth quarter of 2024 amounted to $319 million, with the $77 million increase due primarily to the higher gross margin. At the quarter end, the company had approximately $818 million of cash on hand. During the fourth quarter of 2024, the Company made total upfront cash payments of $115 million relative to the mineral stream interests. During the fourth quarter of 2024, the Company received a repayment of the upfront cash payment of $13 million relative to the El Domo PMPA, with this amount to be re-advanced at a later date.

Moreover, in the fourth quarter of 2024, Salobo produced 84,300 ounces of attributable gold, representing record quarterly production and an increase of approximately 17% relative to the fourth quarter of 2023. In the fourth quarter of 2024, Peñasquito produced 2.5 million ounces of attributable silver, an increase of approximately 138% relative to the fourth quarter of 2023

WPM in the fourth quarter of FY24 has reported the adjusted earnings per share of 44 cents, which is inline with the analysts’ estimates for the adjusted earnings per share of 44 cents. The company had reported the adjusted revenue growth of 35.9 percent to $381 million in the fourth quarter of FY24, missing the analysts’ estimates for revenue of $394.97 million. This is primarily due to a 32% increase in the average realized gold equivalent price; partially offset by an 8% decrease in the number of GEOs sold.

Additionally, with the existing cash on hand coupled with the fully undrawn $2 billion revolving credit facility, the Company believes it is well positioned to fund all outstanding commitments and known contingencies as well as providing flexibility to acquire additional accretive mineral stream interests. Given the strength of Wheaton’s balance sheet and forecasted cash flows, the Company has elected to not renew its at-the-market equity program, under which no shares have been issued as of December 31, 2024.