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Wheaton Precious Metals Corp on Friday said quarterly revenue fell but expects to meet its full-year guidance for the production of gold equivalent ounces. The Vancouver-based precious metals streaming company said in the three months to June 30, revenue fell by 13% to $265 million from $302.9 million a year prior. This was driven by a decrease in the gold equivalent ounces produced but not yet delivered, as realised commodity prices rose 4%. Operating cash flow fell by 1.9% to $202.4 million from $206.4 million a year prior due to lower sales volumes, Wheaton said. Net earnings during the second quarter fell by 5.1% to $141.4 million from $149.1 million a year prior. The company declared a quarterly dividend of $0.50 per share, up from $0.15 per share the year before. Looking ahead, Wheaton said it expects production to be between 320,000 and 350,000 ounces of gold, 20.0 and 22.0 million ounces of silver and 22,500 and 25,000 gold equivalent ounces of other metals. The company added it expects to achieve its total gold equivalent ounces’ guidance of approximately 600,000 to 660,000. Wheaton shares were flat at 3,444.50p per share on Friday in London. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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