Wheaton Precious ups payout as first quarter revenue and profit surge

(Alliance News) - Wheaton Precious Metals Corp on Friday announced a higher profit, revenue and dividend amid increased gold and silver production.

The Vancouver, Canada-based miner said gold production rose 4.8% to 97,106 ounces in the first quarter of 2026, from 92,669 ounces a year ago. Silver output jumped 42% to 6.6 million ounces from 4.7 million ounces. Cobalt production was up 22% to 657 pounds from 540 pounds.

The price of gold and silver surged last year and both hit record highs of around USD5,598 and USD121 an ounce in January of this year, before coming under pressure amid the Middle East conflict.

Wheaton's net profit more than doubled to USD582.0 million in the first quarter from USD254.0 million a year ago, while revenue surged 92% to a "record" USD901.5 million from USD470.4 million.

The firm said: "Notably, year-over-year margin growth exceeded the appreciation in gold prices over the same period, underscoring the effectiveness of Wheaton's business model in generating higher levered cash flow and margins in a rising precious metals price environment."

Wheaton Precious declared a quarterly dividend of 19.5 US cents per share, up 18% from 16.5 cents both a year and a quarter prior.

Looking ahead, Wheaton Precious expects to produce between 400,000 and 430,000 ounces of gold in 2026, similar to 416,171 ounces in 2025. Silver production is anticipated to climb to between 27 million and 29 million ounces, between 21% and 30% higher than 22.3 million in 2025.

Wheaton Precious shares fell 1.0% to 10,100.00 pence each on Friday morning in London.

By Tom Budszus, Alliance News slot editor

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Wheaton Precious Metals Corp.