Wheaton Precious Metals

Content sourced from Wikipedia, licensed under CC BY-SA 3.0.

Wheaton Precious Metals Corp. is a Canadian company that provides streaming financing to precious metal miners. It does not own or operate mines; instead, it signs agreements to purchase a portion of the silver (and some gold) produced by other mines in exchange for upfront funding. Wheaton then sells that metal and earns revenue from the sales.

The company was founded in 2004 as Silver Wheaton and changed its name to Wheaton Precious Metals in 2017. It is headquartered in Vancouver and trades on the TSX (WPM), the NYSE (WPML), and the London Stock Exchange (WPM).

Wheaton works with major mining companies and has come from notable mines such as Penasquito in Mexico and Minto in Canada as part of its streaming arrangements. In 2020, the company reported revenue of about US$248 million and net income of about US$106 million.