Wheaton Precious Metals announces record revenue in Q2 Results
WHEATON PRECIOUS METALS ANNOUNCES RECORD REVENUE, CASH FLOW AND SALES VOLUME FOR THE FIRST HALF OF 2021
“Wheaton once again delivered strong results in the second quarter and remains well on track to achieve 2021 guidance of 720,000 to 780,000 gold equivalent ounces. With record sales volumes in the first half of 2021, Wheaton generated both record revenue and cash flow of $655 million and $449 million, respectively. This solid performance reflects the underlying strength of our diversified, high-quality portfolio, and has resulted in an increase to our dividend for the fourth quarter in a row, an increase of 50% over the prior year,” said Randy Smallwood, President and Chief Executive Officer of Wheaton Precious Metals Corp. “We continue to remain extremely active on the corporate development front, closing the previously announced precious metals stream on Capstone’s Santo Domingo project and subsequent to the quarter, entering into an agreement on a new precious metals stream on Rio2’s Fenix Gold project in Chile. In addition, we remain committed to sustainability and are proud to have published our annual sustainability report in the second quarter, highlighting our focus on delivering value to all of our stakeholders.”
Second Quarter 2021 Highlights:
- $216 million in operating cash flow during the second quarter.
- Record quarterly revenue of $330 million during the second quarter.
- Gold equivalent production2 increased over 32% relative to Q2 2020.
- Declared quarterly dividend1 of $0.15 per common share representing the fourth quarterly dividend increase in a row and a 50% increase relative to Q2 2020.
- Initial gold and silver production from the Pampacancha deposit at the Constancia mine.
- First gold and silver deliveries from the Marmato mine.
- Inaugural cobalt production from Voisey’s Bay underground extension.
In the interview below CEO Randy Smallwood provides an overview of the business and his view on the precious metals market
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