Wheaton Precious Metals (WPM); gold division outperforms.

Published on 15-11-2019 08:16:51
Author Charles Gibson
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WPM results out after the bell in Toronto on Thursday night. Underlying earnings for Q3 were within US$2.0m, or 2.7%, of our prior forecasts. While the gold division outperformed our expectations in terms of production, in particular, there was a 1.6Moz under-sale of silver relative to production, which resulted in an increase in ‘inventory’ and meant that underlying EPS came in at 16c (in line with consensus) compared with our prior forecast of 17c (which assumed no inventory effect).

WPM results out after the bell in Toronto on Thursday night. Underlying earnings for Q3 were within US$2.0m, or 2.7%, of our prior forecasts. While the gold division outperformed our expectations in terms of production, in particular, there was a 1.6Moz under-sale of silver relative to production, which resulted in an increase in ‘inventory’ and meant that underlying EPS came in at 16c (in line with consensus) compared with our prior forecast of 17c (which assumed no inventory effect).

Author: Charles Gibson

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