Wheaton's (WPM) Q4 Earnings In Line, Sales Miss Estimates
Zacks Investment Research | Mar 11, 2020 10:09PM ET
Wheaton Precious Metals Corp. (NYSE:WPM) reported adjusted earnings of 17 cents per share in fourth-quarter 2019, which were in line with the Zacks Consensus Estimate. The bottom line surged 112.5% year over year.
The company generated revenues of $223.2 million in the reported quarter, up 13.5% on a year-over-year basis. The top line, however, missed the Zacks Consensus Estimate of $234 million. The upside was driven by increased average realized prices of gold, silver and palladium and a higher number of silver ounces sold, partly offset by a decrease in the number of gold ounces sold.
Wheaton’s attributable gold production was 107,225 ounces compared to 107,160 ounces in the prior-year quarter. Attributable silver production increased 8.4% year over year to 5,962 ounces, while palladium production grew 3.2% year over year to 6,057 ounces.
The company sold 152,389 Gold Equivalent Ounces (GEOs) in the quarter, down from 162,205 GEOs in the prior-year quarter.
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