Wheaton Precious Metals Corp (NYSE:WPM) stock fell 2.39% (As on March 13, 11:23:02 AM UTC-4, Source: Google Finance) though the company raised its payout, as higher gold and silver prices and more metals production sent profit and revenue soaring. The Vancouver, Canada-based miner said net earnings almost tripled to USD1.47 billion in 2025 from USD529.1 million in 2024. In the fourth quarter alone, net earnings were USD558.3 million, up from just USD88.1 million a year before, on USD864.7 million, up from USD380.5 million. Wheaton produced 416,171 ounces of gold in 2025, up 9.2% from 381,248 in 2024. It had released its production figures late last month. In the fourth quarter alone, the company produced 130,676 ounces, up 10% from 118,328 a year before. Silver production was up 6.3% to 22,289 ounces in 2025 from 20,959 in 2024, while palladium output dropped 34% to 10,265 ounces from 15,632. Cobalt production almost doubled to 2,460 ounces from 1,289. In total, Wheaton produced 689,864 gold equivalent ounces in 2025, up from 635,488 in 2024, exceeding its 2025 guidance of 600,000 to 670,000 ounces.

Moreover, While the company faced higher cash costs of USD514 per gold equivalent ounce in 2025, up from USD438 in 2024, higher metals prices helped increase its operating margin by 53% to USD3,040 per gold equivalent ounce. The price of gold has risen by 73% in the past 12 months, while silver’s has nearly trebled. Gold was trading around USD5,077 an ounce on Friday morning in London. Wheaton had USD1.15 billion in cash at the end of 2025, up USD818.2 million a year before.

WPM in the fourth quarter of FY25 has reported the adjusted earnings per share of $1.22, beating the analysts’ estimates for the adjusted earnings per share of 93 cents, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue growth of 127.2 percent to $864.71 million in the fourth quarter of FY25, beating the analysts’ estimates for revenue by 31.14%.

Additionally, Wheaton to declare a quarterly dividend of USD0.165 per share for the last quarter of 2025, up 6.5% from 2024’s USD0.155 per quarter, bringing the total dividend for 2025 to USD0.66 per share, Wheaton set its quarterly dividend for 2026 at USD0.195, an 18% increase from 2025.

Looking ahead to 2026, Wheaton anticipates annual production of 860,000 to 940,000 gold equivalent ounces, bolstered by new streams at Antamina and other assets. Wheaton believes it will reach 1.2 million gold equivalent ounces of production by 2030.