Wheaton Precious Metals Posts Higher 2Q Profit, Sales on Higher Volumes

By Kimberly Chin

Wheaton Precious Metals Corp. said profit rose in the second quarter, lifted by higher sales, as the company saw an increase in gold equivalent prices and sales volumes during the period.

The precious metals streaming company said profit was $166.1 million, up from $105.8 million a year ago. Earnings were 37 cents a share, compared with 24 cents a share a year earlier. Adjusted earnings were 36 cents a share. Analysts surveyed by FactSet had expected adjusted earnings of 37 cents a share.

Sales rose to $330.4 million from $248 million a year earlier. Analysts were expecting on average $327.6 million in revenue.

The company said the average realized gold equivalent price increased 24% and the number of gold equivalent ounces sold rose 7%.

Wheaton's gold equivalent production increased 32% over last year, the company said.

Write to Kimberly Chin at [e-mail]

(END) Dow Jones Newswires

08-12-21 1747ET