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Wheaton Precious Metals PLC on Friday reported a ‘strong start to 2025’ as profit and revenue increased in the first quarter of 2025 on higher gold equivalent ounces sales. The Vancouver-based precious metals company said pretax profit in the three months that ended March 31 was $296.8 million, up 81% from $164.0 million the previous year. Revenue rose 58% to $470.0 million from $296.8 million. This was driven by a 3% increase in the average realised gold equivalent price as well as a 16% increase in the number of gold equivalent ounces sold. Wheaton also declared a first quarter dividend of 16.5 US cents, up 6.5% on-year from 15.5 US cents. For the first quarter, Wheaton reported gold production of 92,681 ounces, increasing 0.8% from 91,939 ounces the prior year. However, silver production decreased 14% to 4.7 million ounces from 5.5 million ounces. Looking forward, the company expects gold production for 2025 between 350,000 and 390,000 ounces, against 379,530 ounces in 2024. It also expects silver production of 20.5 million to 22.5 million ounces in 2025. Chief Executive Officer Randy Smallwood said: ‘Looking ahead, 2025 is shaping up to be a catalyst-rich year, with four development projects scheduled to come online over the course of the year.’ Wheaton shares rose 3.0% to 6,540.06 pence in London on Friday morning. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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