Wheaton Precious Metals Corp (NYSE:WPM) stock rose 3.43% (As on May 9, 11:29:27 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the first quarter of FY25. The company has cash balance of $1.1 billion, no debt, and an undrawn $2 billion revolving credit facility as at March 31, 2025. The attributable gold equivalent production3 (“GEOs”) of 151,000 ounces in the first quarter of 2025. While quarterly production decreased 4% relative to the comparable period of the prior year as a result of planned lower production from Constancia and Peñasquito, it still surpassed expectations, driven primarily by strong quarterly production achieved at Salobo. The company has further de-risked forecast growth profile as construction activities advanced at a number of development projects including Goose, Platreef, and Mineral Park, all of which are currently expected to be producing by the end of 2025. On March 7, 2025, the Company amended the Blackwater Silver PMPA with Artemis Gold Inc. (“Artemis”) by simplifying the payable silver calculation, which is expected to accelerate the receipt of payable silver ounces by Wheaton. Subsequent to the quarter, on May 2, 2025, Artemis announced that it had achieved commercial production at the Blackwater mine, with mining delivering in excess of 90% of its planned tonnage, and mined tonnes and grades reconciling favourably to the resource model.

WPM in the first quarter of FY25 has reported the adjusted earnings per share of 55 cents, beating the analysts’ estimates for the adjusted earnings per share of 50 cents, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue of $470.41 million ((68% gold, 30% silver, 1% palladium and 1% cobalt) in the first quarter of FY25, beating the analysts’ estimates for revenue by 13.36%. This is primarily due to a 36% increase in the average realized gold equivalent price; and a 16% increase in the number of GEOs sold. Average cash costs in the first quarter of 2025 were $446 per GEO as compared to $433 in the first quarter of 2024. This resulted in a cash operating margin¹ of $2,400 per GEO sold, an increase of 45% as compared with the first quarter of 2024. Operating cash flow in the first quarter of 2025 amounted to $361 million, with the $141 million increase from the comparable period of the prior year. The company has approximately $1,086 million of cash on hand.