Wheaton Precious Metals Corp Dossier
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SectorMaterials IndustryGold Beta (adjusted)1.18 Intrinsic Value $107.01median of 6 methods · middle span $59-$127based on filings through 31 Dec 2025 Market Price $133.72Price as of 30 Sep 2026 OvervaluedIntrinsic value is 20% below the market price −50% · IV below pricenear fair value ±15%IV above price · +50% Data confidence Sign in to view data confidence Market Cap $60.7B Shares Outstanding 453.9M diluted Moat Rating Wide Next Earnings Date5 Nov 2026 Last ex-dividend20 Aug 2026 All prices and values are periodic snapshots, not live quotes. Source dates are shown for reference. ThesisStreet consensus, scenarios, merits, risks, and invalidation triggers Thesis Summary Wheaton entered the second half of 2026 with record year-to-date production, revenue, earnings and operating cash flow, while maintaining its 860,000-940,000 GEO annual production outlook and 1.2 million GEO 2030 objective. The additional Antamina silver stream and multiple projects entering production or ramp-up provide substantial operating growth, but the thesis remains exposed to precious-metals prices, third-party mine operators and simultaneous construction and commissioning risk. This section is the 12-month view: analyst targets and the probability-weighted scenarios built from them. The intrinsic value at the top of this page answers a different question: what the business is worth today. Street view · analyst 12-month targets Low · most bearish analyst$145.00 Mean target$174.61 High · most bullish analyst$220.07 Street targets sit above today's price; our intrinsic value sits below it. Different horizons, different questions. Our research · scenarios, merits, risks, and invalidation triggersResearch as of 2 Sep 2026 Scenarios · 12-month scenario targets Bear CaseDownside scenario $145.0020% Annual production falls below guidance because of weaker grades, recoveries or throughput at operating mines, or because multiple development and ramp-up projects are delayed. Lower precious-metals prices would compound the effect by reducing realized prices and cash margins, while Wheaton remains dependent on counterparties to operate and develop the underlying mines. Base CaseCentral scenario $174.6155% Matches the consensus meanFull-year production remains within the 860,000-940,000 GEO guidance range, with established assets offsetting normal variability at individual mines and most near-term development milestones proceeding substantially on schedule. Bull CaseUpside scenario $220.0725% Production reaches or exceeds the top of 2026 guidance as the expanded Antamina stream performs well and Blackwater, Mineral Park, Platreef, Fenix, Marmato, Kurmuk and Kone advance without material delays. Strong precious-metals prices preserve the streaming model's high cash margins and improve confidence in the 1.2 million GEO 2030 objective. Scenarios are anchored to street consensus at the research date, with our probabilities and rationale. Key Investment Merits
Key Investment Risks
All scenarios are estimates and subject to change. Past performance is not indicative of future results. Quality Pillars MembersThis section is available to registered members. Create a free account or sign in to unlock the full breakdown. Explore this dossierValuationIntrinsic value, the six-method breakdown, peer medians, and your assumptions sandbox.Financial SnapshotRevenue, profitability, returns, balance sheet, dividends, and the filing-level detail.Qualitative AnalysisBusiness overview, strategic initiatives, and mergers, acquisitions & partnerships.Outlook & Key DatesForward estimates, reporting calendar, and the monitoring framework. |