2024-03-17 04:02:19 ET
Summary
- Wheaton Precious Metals has continued to perform well despite setbacks at key assets, reporting near-record results ahead of what will be another strong year in 2024.
- However, growth will accelerate in 2025 as multiple assets see a full year of production, and the environment for royalty/streamers remains favorable with many developers still trading at depressed valuations.
- In this update, we'll dig into Wheaton Precious Metals' Q4 and FY2023 results, recent developments and where the stock's updated buy zone lies.
2023 was another tough year for the precious metals sector, with a few of the larger gold and producers missing their guidance midpoints and reporting higher than expected costs overall. However, royalty/streaming companies like Wheaton Precious Metals ( WPM ) have continued to put up phenomenal results, with this being despite setbacks at key assets last year among the group like Penasquito (strike) as well as Cobre Panama and Renard which headed into care & maintenance. However, despite the record results from multiple royalty/streaming companies, the group has been dragged down with the negative sentiment sector-wide, with Sandstorm Gold Royalties ( SAND ) sinking to multi-year lows before its recent rebound....
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Wheaton Precious Metals: Buy The Dips