Wheaton Precious net profit surges amid sharply higher gold price
(Alliance News) - Wheaton Precious Metals Corp on Friday said it benefited from a much higher gold price in the first half of 2026.
The Vancouver, Canada-based miner reported record second-quarter revenue of USD929.2 million, up 85% from USD503.2 million a year before.
Net profit surged 86% to USD543.2 million from USD292.3 million.
First-half revenue jumped 88% to USD1.83 billion from USD973.6 million.
Wheaton Precious highlighted that the average gold equivalent ounce price surged 61% to USD4,443 in the second quarter of 2026, from USD2,754 a year prior.
The company produced 202,229 gold equivalent ounces in the second quarter of 2026, up 6.3% from 190,179 a year prior. Sales of gold equivalent ounces jumped 14% to 209,115 from 182,750.
The rise in production primarily reflected the firm's precious metals purchase agreement with BHP covering silver production at the Antamina mine, alongside contributions from Hemlo, Fenix, Platreef and Goose.
Wheaton maintained its 2026 production guidance of 860,000 to 940,000 gold equivalent ounces, compared to 692,000 in 2025.
It raised its third quarterly dividend by 18% to 19.5 US cents per share.
Chief Executive Officer Haytham Hodaly said: "In an environment marked by commodity price volatility and cost pressures, our robust margins and cash flow generation underscore the strength of the streaming model. Our financial position provides significant flexibility to pursue accretive streaming opportunities while continuing to advance one of the strongest growth profiles in the industry.
"Backed by a diversified portfolio of high-quality assets and a compelling pipeline of growth, we believe we are well positioned to deliver long-term value for all stakeholders."
Wheaton Precious shares jumped 4.1% to 9,643.00 pence each on Friday morning in London.
By Tom Budszus, Alliance News slot editor
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