Analyst Consensus ?
ConsensusBuy19 ratings
Bullish1578.9%
Neutral421.1%
Bearish00.0%
Wheaton Precious Metals Corp. · WPM · FY2025 Q4 · Calendar Q1 2026
Wheaton adds Antamina scale while funding demands rise
The call supports a growth case driven by Antamina, ramping streams, and development projects, but that case depends on execution, commodity prices, and disciplined funding of large upfront commitments.
Reported After market closeNYSEBasic Materials
$60.59B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.22
Consensus $1.08
EPS surprise
+13.0%
Reported versus consensus
Reported revenue
$864.7M
Consensus $778.8M
Revenue surprise
+11.0%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
-4.0%
Event window
SPY move
-0.6%
Same window
Abnormal move
-3.5%
Stock minus SPY
Volume
1.3×
Versus trailing sessions
Subsequent drift
+3.5%
Up to 20 sessions
WPMSPY benchmark
Ask FN2 about WPM FY2025 Q4
Transcript, numbers and history already loaded
Why did WPM fall 4.0% after beating EPS estimates in FY2025 Q4?What changed in WPM's guidance and outlook in FY2025 Q4?Give me the bull and bear case for WPM after FY2025 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The current analysis adds the completed Antamina silver-stream transaction with BHP as the central growth change, alongside a higher capital-commitment profile, an 18% dividend increase to $0.195 per share, and a CEO transition.
Guidance delta
The analysis says guidance was maintained; current plans include 2026 production of 860k–940k GEOs and a five-year target of 1.2M GEOs by 2030.
Key takeaways
- The growth case centers on the Antamina silver stream, which the analysis says adds about 18% of future production, alongside ramping assets such as Blackwater and Goose.
- Management’s current analysis points to 2026 production guidance of 860k–940k GEOs and a 1.2M GEO target by 2030.
- The quarterly dividend was increased 18% to $0.195 per share, according to the transcript analysis.
- The main tension is between pursuing additional multibillion-dollar streaming deals and preserving liquidity as upfront commitments increase.
Management priorities
- Integrate the Antamina silver stream and increase its contribution to production.
- Continue ramping Blackwater, Goose, and other operating streams.
- Advance construction and commercialization across the listed development projects.
- Pursue additional large streaming deals, particularly with existing partners, while maintaining a progressive dividend policy.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$136.28Current
$41Low
$99.9Average
$180High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 3, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| RBC Capital | Outperform | Outperform | Maintain | Sep 16, 2026 |
| Scotiabank | Sector Outperform | Sector Outperform | Maintain | Jul 14, 2026 |
| B of A Securities | Buy | Buy | Maintain | Jul 9, 2026 |
| Jefferies | Buy | Buy | Maintain | Jul 6, 2026 |
| UBS | Buy | Buy | Maintain | Jun 30, 2026 |
| TD Securities | Buy | Buy | Maintain | Mar 16, 2026 |
| TD Cowen | Buy | Buy | Maintain | Mar 16, 2026 |
| Raymond James | Outperform | Outperform | Maintain | Oct 10, 2025 |
| CIBC | Outperform | Outperform | Maintain | Oct 10, 2025 |
| National Bank Financial Inc | Outperform | Sector Perform | Upgrade | Oct 10, 2024 |
| BMO Capital | Outperform | Outperform | Maintain | Nov 10, 2023 |
| Berenberg | Buy | Buy | Maintain | Sep 11, 2023 |
| Barclays | Equal Weight | Equal Weight | Maintain | Jul 7, 2023 |
| Keybanc | Overweight | Overweight | Maintain | Jul 18, 2022 |
| JP Morgan | Overweight | Overweight | Maintain | Mar 4, 2021 |
| Deutsche Bank | Hold | Hold | Maintain | Jun 17, 2020 |
| Bank of America | Buy | Buy | Maintain | Sep 26, 2019 |
| Credit Suisse | Neutral | Neutral | Maintain | Aug 9, 2019 |
| GMP Securities | Hold | Buy | Downgrade | Apr 23, 2019 |
Named analyst price targets
Upside is calculated against the persisted current price $136.28. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Berenberg Bank | Analyst unavailable | $157 | $112.01 | +15.2% | Jul 28, 2026 |
| RBC Capital | Analyst unavailable | $160 | $110.45 | +17.4% | Jul 9, 2026 |
| Jefferies | Fahad Tariq | $177 | $115.73 | +29.9% | Jul 6, 2026 |
| UBS | Daniel Major | $150 | $109.85 | +10.1% | Jun 30, 2026 |
| Scotiabank | Analyst unavailable | $180 | $139.03 | +32.1% | May 14, 2026 |
| UBS | Daniel Major | $160 | $124.7 | +17.4% | Mar 27, 2026 |
| UBS | Daniel Major | $158 | $139.56 | +15.9% | Jan 30, 2026 |
| Scotiabank | Analyst unavailable | $175 | $153 | +28.4% | Jan 26, 2026 |
| RBC Capital | Analyst unavailable | $130 | $109.25 | -4.6% | Dec 10, 2025 |
| Jefferies | Fahad Tariq | $145 | $108.09 | +6.4% | Dec 7, 2025 |
| Scotiabank | Tanya Jakusconek | $128 | $98.16 | -6.1% | Oct 23, 2025 |
| UBS | Analyst unavailable | $122 | $110.27 | -10.5% | Oct 16, 2025 |
| CIBC | Analyst unavailable | $160 | $105.45 | +17.4% | Oct 10, 2025 |
| Raymond James | Analyst unavailable | $127 | $103.38 | -6.8% | Oct 10, 2025 |
| UBS | Daniel Major | $118 | $106.21 | -13.4% | Sep 19, 2025 |
| UBS | Daniel Major | $106 | $97.23 | -22.2% | Aug 11, 2025 |
| BMO Capital | Matthew Murphy | $129 | $83.37 | -5.3% | Apr 15, 2025 |
| Raymond James | Brian MacArthur | $88 | $70.9 | -35.4% | Apr 4, 2025 |
| Scotiabank | Analyst unavailable | $79 | $76.02 | -42.0% | Mar 17, 2025 |
| Jefferies | Matthew Murphy | $77 | $60.07 | -43.5% | Oct 4, 2024 |
| TD Securities | Greg Barnes | $70 | $57.86 | -48.6% | Aug 15, 2024 |
| BMO Capital | Jackie Przybylowski | $59 | $55.65 | -56.7% | May 10, 2024 |
| TD Securities | Greg Barnes | $53 | $44.16 | -61.1% | Mar 18, 2024 |
| Barclays | Analyst unavailable | $41 | $33.87 | -69.9% | Jul 19, 2022 |
| RBC Capital | Josh Wolfson | $52 | $44.76 | -61.8% | May 4, 2022 |
| BMO Capital | Jackie Przybylowski | $51 | $40.93 | -62.6% | Feb 7, 2022 |
| National Bank | Shane Nagle | $51.72 | $38.44 | -62.0% | Jan 7, 2022 |
| Credit Suisse | Fahad Tariq | $45.36 | $42.18 | -66.7% | Dec 23, 2021 |
| KeyBanc | Adam Josephson | $46 | $41.74 | -66.2% | Dec 22, 2021 |
| Scotiabank | Trevor Turnbull | $65 | $39.03 | -52.3% | Sep 24, 2021 |
| Desjardins | John Sclodnick | $59.68 | $47.1 | -56.2% | May 20, 2021 |
| J.P. Morgan | Tyler Langton | $53 | $41.06 | -61.1% | Apr 27, 2021 |
Track every rating change on WPM the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationWheaton Precious Metals Corp. functions as a streaming enterprise, primarily engaged in the global distribution of valuable metals. Its offerings encompass deposits of gold, silver, palladium, and cobalt. The company maintains a substantial portfolio, holding stakes in 23 operational mines and an additional 13 development ventures. Founded in 2004, the firm's headquarters are located in Vancouver, Canada. It operated under the name Silver Wheaton Corp. until May 2017, when it rebranded to its current title.
Historical context
All WPM earningsBasic Materials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| HMY Harmony Gold Mining Company Limited | FY2026 Q4 · Calendar Q3 2026 | 0.0% | -6.2% | Harmony Gold posts record FY2026 while Eva Copper risks remain |
Latest beats and misses
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- CAGFY2027 Q1 · September 30, 2026+44.4% EPS-4.9% move
- FDSFY2026 Q4 · September 30, 2026+3.9% EPS+3.8% move
- JBLFY2026 Q4 · September 30, 2026+8.1% EPS-10.0% move
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:36:15.940040+00:00
- Polygon adjusted daily market bars · 2026-10-02T23:51:35.948535+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-02T23:51:35.945752+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-02. For educational purposes only; not investment advice.