Wheaton Precious Metals revenue hits record

During the second quarter, operating cash flow increased 43% to $216-million and revenue jumped 33% to a record $330-milion.

CEO Randy Smallwood commented that the quarter’s solid performance reflected the underlying strength of the group’s portfolio and had resulted in an increase to its dividend for the fourth quarter in a row.

The streaming company declared a quarterly dividend of $0.15 a share, which is a 50% increase relative to the second quarter of 2020.

Wheaton reported a 32% quarter-on-quarter increase in gold-equivalent production to 194 140 oz and said that it would achieve its guidance of 720 000 to 780 000 gold-equivalent ounces for the year.

Smallwood noted that Wheaton remained active on the corporate development front, closing a precious metals stream on Capstone’s Santo Domingo project, in Chile, and subsequent to the quarter-end, entered into an agreement on a new precious metals stream on Rio2’s Fenix gold project, also in Chile.