Wheaton Precious Metals Completes Gold Stream Agreement for Hemlo Mine Acquisition

Wheaton Precious Metals ( (TSE:WPM) ) has provided an announcement.

Wheaton Precious Metals has finalized a Gold Stream agreement with Carcetti Capital Corporation to support Carcetti’s acquisition of the Hemlo Mine from Barrick Mining Corporation. This transaction is expected to provide Wheaton with immediate production and cash flow benefits. The Gold Stream agreement includes a $300 million upfront payment and allows Wheaton to purchase a percentage of the mine’s gold production, enhancing its mineral reserves and resources. The deal positions Wheaton to strengthen its industry presence and offers potential for future growth through additional mineral stream interests.

The most recent analyst rating on (TSE:WPM) stock is a Buy with a C$133.00 price target. To see the full list of analyst forecasts on Wheaton Precious Metals stock, see the TSE:WPM Stock Forecast page.

Spark’s Take on TSE:WPM Stock

According to Spark, TipRanks’ AI Analyst, TSE:WPM is a Outperform.

Wheaton Precious Metals’ strong financial performance and positive earnings call are the most significant factors contributing to the score. The company’s robust profitability, low leverage, and strategic growth initiatives position it well for future growth. However, the high P/E ratio and recent technical weakness temper the overall outlook.

To see Spark’s full report on TSE:WPM stock, click here.

More about Wheaton Precious Metals

Wheaton Precious Metals Corp. operates in the precious metals industry, primarily focusing on streaming agreements for gold and silver. The company collaborates with mining companies to purchase a portion of their metal production at a fixed price, providing financial support and benefiting from the sale of these metals.

Average Trading Volume: 859,352

Technical Sentiment Signal: Buy

Current Market Cap: C$65.64B

Find detailed analytics on WPM stock on TipRanks’ Stock Analysis page.