Company DescriptionWheaton Precious Metals Corp. is a mining company, which engages in the sale of precious metals and cobalt production. It operates through the following segments: Gold, Silver, Palladium, Cobalt, and Other. It focuses on the following precious metals streams: Salobo, Peñasquito, Antamina, Constancia, Stillwater, San Dimas, Sudhury, Zinkgruvan, Yauliyacu, Neves-Corvo, Pascua-Lama, Rosemont, Voisey's Bay, and others. The company was founded by Peter Derek Barnes on December 17, 2004 and is headquartered in Vancouver, Canada.
How the Company Makes MoneyWheaton Precious Metals generates revenue through its streaming agreements, which provide the company with the right to purchase a specified percentage of a mine's precious metal production at a fixed, reduced cost. This model allows Wheaton to benefit from the sale of these metals at market prices, capturing the spread between the purchase price and the market price. Key factors contributing to its earnings include the strategic selection of streams from high-quality mines, diversification of its portfolio across multiple geographies and operators, and maintaining partnerships with leading mining companies. Additionally, Wheaton's business model significantly reduces its operational risks and capital expenditure compared to traditional mining companies, as it does not own or operate the mines directly.