Wheaton Precious Metals ( NYSE: WPM ) flat pre-market Wednesday after reporting FY 2022 gold production came in lower than expected , while forecasting higher production over the next five years.
Wheaton ( WPM ) reported full-year gold production of 286,985 oz, below guidance of 300K-320K oz, while silver production of 24M oz hit the top end of guidance of 22.5M-24M oz; gold equivalent output totaled 638,048 oz but missed guidance of 640K-680K oz.
For FY 2023, Wheaton ( WPM ) forecasts gold production of 320K-350K oz and silver output of 20M-22M oz.
Wheaton ( WPM ) expects FY 2023 gold equivalent production will slightly exceed 2022 results, citing expected stronger attributable production from Salobo and Constancia, offset by weaker production from Antamina and the termination of the silver stream on Yauliyacu.
Looking further ahead, Wheaton ( WPM ) sees higher average production over the next five years due mostly to anticipated continued production growth from Salobo, Stillwater, Constancia, Voisey's Bay and Marmato, as well as incremental production ounces from Blackwater, Toroparu, Marathon, Rosemont and Santo Domingo towards the latter end of the forecast period.
Wheaton Precious Metals ( WPM ) is one of the largest royalty and streaming companies in the world, but the timing is right for investors to take profits, Macrotips Trading writes in an analysis published on Seeking Alpha .
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Wheaton Precious Metals misses full-year gold production guidance