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Wheaton Precious Metals Shares Slide on 4Q Miss

By Adriano Marchese

 

Wheaton Precious Metals Corp. shares fell Friday, a day after the company reported lower earnings and revenue, missing analyst forecasts in the fourth quarter.

At 9:41 a.m. ET, shares were down 2% at C$61.47.

The Canadian precious metals streaming company reported adjusted per-share earnings of 29.3 U.S. cents, down from 33.3 cents a year earlier. Analysts polled on FactSet expected 31 cents a share.

In the period, revenue fell 2.8% to $278.2 million as the company produced and sold less gold compared with the prior-year fourth quarter.

Wheaton set its 2022 output guidance, with gold production expected to be between 350,000 ounces to 380,000 ounces of gold, and between 23 to 25 million ounces of silver.

In 2021, the company produced 342,546 ounces of gold and 26 million ounces of silver.

 

Write to Adriano Marchese at adriano.marchese@wsj.com

 

(END) Dow Jones Newswires

March 11, 2022 10:01 ET (15:01 GMT)

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