- Wheaton Precious Metals (WPM +2%) is higher after reporting better than expected Q4 earnings and revenues, and declaring a Q4 dividend that was 29% higher than in the year-ago quarter.
- Q4 production came in at 7.2M oz. of silver, down 5% Y/Y primarily due to lower production from the San Dimas mine resulting from various operational issues, and nearly 96.5K oz. of gold, down 13.6% Y/Y because the company's share of gold production at the 777 mine was cut from 100% to 50%.
- WPM says it generated $165M of operating cash flow during Q4, resulting in more than $535M for the year.
- For the full year, WPM says attributable silver production totaled 28.6M oz. and gold output was 355K oz., exceeding company production guidance of 28M oz. of silver and 340K oz. of gold.; silver sales volume fell 13% Y/Y to 24,6K oz. while gold sales volume hit a record 337.2K oz.
- WPM expects FY 2018 attributable production of 22.5M oz. of silver and 355K oz. of gold, and forecasts average annual attributable production over the next five years including 2018 of 25M oz. of silver and 370K oz. of gold.
- Now read: Coeur Mining: Exceptional 2017 Results And Why 2018 Cost Guidance Isn't A Concern
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