- Despite being down 1% year-to-date, Wheaton Precious Metals is one of the better performers this year, relative to a ~13% decline in the Gold Miners Index.
- The company just came off a satisfactory quarter in Q3, with production up slightly year-over-year but relatively flat on a two-year basis.
- Unfortunately, this didn't entirely show up in the company's results, with a buildup of inventory due to delayed shipments, resulting in double-digit declines in revenue and quarterly EPS.
- Given Wheaton's attractive dividend yield, steady growth in attributable GEO production, and industry-leading margins, I would view pullbacks below $39.00 as low-risk buying opportunities.
For further details see:
Wheaton Precious Metals: A High-Quality Business At A Very Reasonable Price