Wheaton Precious Metals Corp (NYSE:WPM) stock fell 2.73% (As on Mar 11, 11:02:40 AM UTC-4, Source: Google Finance) after the company posted lower than expected results for the fourth quarter of 21. During the three months and year ended December 31, 2021, Wheaton’s gold equivalent ounces produced amounted to 186,400 ounces and 753,000 ounces, respectively, a decrease of 1.7% during the three month period and an increase of 5.7% during the twelve month period. During the three months and year ended December 31, 2021, Wheaton’s gold equivalent ounces sold amounted to 158,900 ounces and 663,400 ounces, respectively, an increase of 2.1% and 0.2% as compared to the comparable periods of the prior year. During the three months and year ended December 31, 2021, Wheaton generated operating cash flow of $195 million and $845 million, respectively, with the figure for the twelve month period representing a record for the Company. This represented a decrease of 6% during the three month period and an increase of 10% during the twelve month period.

Moreover, the decrease in attributable gold production was primarily due to the mining of lower grade material at Salobo coupled with the effect on production of the conveyor belt fire during October 2021, partially offset by the mining of higher grade material at Constancia and San Dimas. The decrease in attributable silver production was primarily due to lower throughput and grades at Antamina. The increase in net earnings was primarily the result of an impairment reversal on the Voisey’s BayPMPA. The decrease in adjusted net earnings was primarily due to lower gross margin resulting from a 5% decrease in the realized gold equivalent price and higher G&A costs resulting from differences in accrued costs associated with the Company’s performance share units (“PSUs”).

WPM in the fourth quarter of 21 has reported the adjusted earnings per share of 29 cents, missing the analysts’ estimates for the adjusted earnings per share of 30 cents. The company had reported the adjusted revenue of $278.2 million in the fourth quarter of 21, missing the analysts’ estimates for revenue by 2.32%.

Additionally, the company subsequent to the year end, on January 17, 2022, has entered into a PMPA with Adventus Mining Corporation (“Adventus”) in respect to the Curipamba Project (“Curipamba”) located in Eduador. On January 26, 2022, the Company entered into a PMPA with Generation Mining Limited in respect to the Marathon Project located in Ontario, Canada.