Wheaton Precious Metals Corp. research snapshot
WPM AI stock analysis as of the August 2, 2026 data cutoff reads Wheaton Precious Metals as a high-margin precious metals streaming company with record recent results and a large growth pipeline. The stock closed at $109.03 on July 31, 2026, and the market capitalization was about $49.37 billion, re-verified during this full refresh as $109.03 times 454.13 million shares with a 0.29% deviation. Q1 2026 delivered record revenue of $901 million, record net earnings of $582 million, and record operating cash flow of $766 million, after FY2025 revenue of about $2.31 billion and net income of about $1.47 billion, both cross-validated across StockAnalysis.com and company reporting with 0.11% or better deviation. The BHP Antamina streaming deal closed on April 1, 2026 for a $4.3 billion upfront payment, the largest streaming transaction in company history, and the company targets about 860,000 to 940,000 gold equivalent ounces in 2026 and about 1.2 million gold equivalent ounces by 2030. Management transition is complete: Haytham Hodaly is now President and Chief Executive Officer effective March 31, 2026, with Randy Smallwood as Chair of the Board. Offsetting this is a pullback in precious metals prices, a price that sits below its 50-day and 200-day moving averages, a premium valuation of about 27.43x trailing EPS and about 22x forward earnings, and the balance-sheet impact of the April 1, 2026 Antamina funding. The page presents a scenario framework, not a certain price prediction, and is for information only.
Current price
$109.03
Market cap
$49.37 billion
AI score
72 / 100
Rating
High-margin streamer with record results and a large growth pipeline
Trend status
Price is in a pullback below its 50-day and 200-day moving averages
Data cutoff (updated monthly)
August 4, 2026
Informational use only. This page is not investment advice.
| Dimension | Conclusion | Confidence |
|---|---|---|
| Business quality | Wheaton provides upfront capital to mine operators in exchange for the right to buy agreed metal production at fixed or formula-based prices, then sells delivered gold, silver, palladium, platinum, or cobalt at market prices. Q1 2026 set records with 22 operating mines and 26 development projects. | High |
| Moat | Its advantage comes from scale, a long operating history, specialized contract underwriting, low corporate overhead, a diversified portfolio of long-life assets, and the financing capacity to complete large streaming transactions such as the $4.3 billion Antamina deal. | Medium-high |
| Management | Haytham Hodaly assumed the President and Chief Executive Officer role on March 31, 2026, with Randy Smallwood as Chair. Q1 2026 delivered record results and the largest streaming deal in company history closed on April 1, 2026, so capital-allocation discipline and underwriting quality remain the key management tests. | Medium-high |
| Financial trend | FY2025 revenue was about $2.31 billion up 80% and net income about $1.47 billion up 178%. Q1 2026 delivered record revenue of $901 million, record net earnings of $582 million, and record operating cash flow of $766 million. | High |
| Valuation | At the $109.03 close, the trailing PE was about 27.43x, forward PE about 22.19x, PS about 17.98x, and PB about 5.34x. P/FCF depends on treatment of stream investments: about 49x if stream purchases count as capex, about 21x if free cash flow is measured as operating cash flow. | Medium-high |
| Technical trend | WPM closed at $109.03 on July 31, 2026, below its 50-day moving average near $116.21 and its 200-day moving average near $124.22, after a pullback from the 52-week high of $165.76, with 14-day RSI near 45 and 14-day ADX near 15 indicating weak directional momentum. | Medium |
| Risk level | Risk is medium-high because gold and silver prices, mine and counterparty performance, jurisdictional changes, stream concentration, capital deployment, the new Antamina-related debt, and share valuation can move value quickly. | High |
| AI confidence | High for sourced historical facts and valuation arithmetic that matched across StockAnalysis.com, the Q1 2026 results release, and company guidance. Lower for metal-price direction, future deliveries, and the future share price. | High data confidence |
| Investment certainty | Medium certainty because the streaming model reduces direct operating exposure but cannot eliminate commodity-price, counterparty, concentration, development-timing, and valuation risk. | Medium |
WPM AI stock forecast
The WPM AI stock forecast uses a three-year scenario framework around the $109.03 cutoff price and a forward EPS base near $4.91. The financial-rigor model produced values near $193 in the bullish case, $136 in the base case, and $69 in the bearish case using explicit EPS-growth and terminal-PE assumptions. These are scenario outputs, not promises.
$185 to $205
More likely if gold and silver prices hold or recover, portfolio deliveries meet or exceed guidance, the Antamina stream ramps as planned, new streams are underwritten well, operating cash flow compounds, and the market supports a premium multiple for streaming economics.
$130 to $145
More likely if Wheaton executes on its portfolio, sustains record margins, grows deliveries toward the 1.2 million GEO target, keeps net cash or modest leverage under control, and metal prices and valuation multiples normalize without a sharp reversal.
$60 to $80
More likely if metal prices decline materially, counterparties miss production plans, a major asset is disrupted, the Antamina financing pressure is higher than expected, capital is committed at weak returns, or a lower commodity-cycle multiple takes hold.
WPM AI technical analysis
WPM AI technical analysis uses a static August 2, 2026 cutoff. WPM closed at $109.03 on July 31, 2026, below its 50-day moving average near $116.21 and its 200-day moving average near $124.22, with 14-day RSI near 45 and 14-day ADX near 15 showing weak momentum after a pullback from the 52-week high of $165.76. The 52-week range was $90.95 to $165.76.
| Level | Value | Why it matters |
|---|---|---|
| Current price | $109.03 | StockAnalysis.com quote at the July 31, 2026 close. Market-cap math uses 454.13 million shares outstanding. |
| Near support | $104 to $108 | A monitoring zone below the July 31 close near the day range of $108.40 to $112.06, not a guaranteed floor. Confirm against current price history. |
| Deeper support | $100, then $90.95 | The round-number $100 area and the 52-week low of $90.95 form a wider risk-planning zone that requires confirmation from a live chart and current metals prices. |
| Near resistance | $116 | The 50-day moving average near $116.21 sits above the current price as the first overhead zone. |
| Next resistance | $124 to $126 | The 200-day moving average near $124.22 and the 100-day moving average near $125.70 form a resistance cluster above price. |
| 50-day moving average | $116.21 | StockAnalysis.com and Barchart both reported the 50-day moving average near $116.21 on July 31, 2026, above the current price. |
| 200-day moving average | $124.22 | StockAnalysis.com and Barchart both reported the 200-day trend line near $124.22, meaning WPM trades below the long-term average. |
| Momentum | Weak, RSI near 45 | 14-day RSI was near 45.43 and 14-day ADX near 15.31 on Barchart, indicating a weak or non-directional momentum phase rather than a strong trend. |
| Volume | About 1.6 million average shares | Barchart listed 20-day average volume near 1.6 million shares, useful for checking whether moves are confirmed by volume. |
| Volatility | Elevated, metal-price sensitive | Barchart reported 14-day historical volatility near 40.6%, so position sizing should account for larger swings around metals moves and quarterly results. |
| Invalidation | Sustained close below $100 | A confirmed break below the $100 area should trigger a fresh review of price action, metals prices, and the fundamental thesis; the 52-week low of $90.95 is the next floor. |
WPM AI trading strategy
The WPM AI trading strategy is a rules-based research framework, not personalized advice. Use live price and volume data, a predefined position size, an invalidation condition, and current filings.
Because WPM trades below its 50-day and 200-day moving averages, wait for a confirmed reclaim of the 50-day average near $116 with rising volume and stabilizing gold and silver prices before treating the pullback as a renewed uptrend.
A failed reclaim of the 50-day moving average or a close below the $100 support area should invalidate the setup before losses become open-ended.
If WPM stabilizes near the $104 to $108 support zone or the $100 area while metals remain constructive, compare the price move with stream deliveries, realized prices, operating cash flow, net cash, and announced capital commitments.
Do not average down merely because the price has fallen. Reassess if metals weaken, a major counterparty misses plan, or expected cash generation does not arrive.
Track attributable production, deliveries, realized metal prices, cash operating margin, operating cash flow, cash, debt including the Antamina financing, new stream terms, counterparty concentration, guidance, dividends, and share issuance.
Reduce confidence when the thesis relies on high spot prices without matching delivery growth, disciplined deal terms, or per-share cash-flow progress.
Investment research summary
Wheaton finances mine operators and buys contracted metal output at preset prices. Customers pay market prices for gold, silver, palladium, platinum, and cobalt, leaving Wheaton with a margin linked to commodity prices and delivered volumes.
The defensible advantage is specialized underwriting at scale. Long contract experience, a strong balance sheet, an established counterparty network, and portfolio diversification make large streaming transactions such as the Antamina deal difficult for smaller rivals to replicate.
The thesis can fail if gold or silver prices keep falling, key mines underdeliver, counterparties face financial or political stress, production is delayed, a concentrated asset has an outage, the new Antamina-related debt strains cash flow, or new streams are purchased at insufficient returns.
Management is judged by contract pricing, diligence, jurisdiction and counterparty selection, preservation of liquidity, and whether growth investments lift per-share cash flow. The completed CEO transition to Haytham Hodaly adds a governance and execution checkpoint.
Streaming offers exposure to precious-metals demand without running mines directly. The industry still depends on the mining cycle, constrained new supply, permitting, energy and labor costs, political stability, and the availability of attractive financing opportunities.
At $109.03, WPM reflects strong recent margins and future delivery growth. Margin of safety depends on conservative assumptions for metal prices, delivery timing, stream returns, the Antamina financing, and the premium valuation investors assign to a streaming model.
Source-backed data
Every metric below includes a source and last verification date.
| Metric | Value | Source | Last verified |
|---|---|---|---|
| WPM price | $109.03 at the July 31, 2026 close | StockAnalysis.com quote | August 2, 2026 |
| Market capitalization | $49.37 billion reported, computed as $109.03 x 454.13 million shares with a 0.29% deviation | StockAnalysis.com quote and statistics; financial_rigor.py verification | August 2, 2026 |
| Shares outstanding | 454.13 million, up 0.11% year over year | StockAnalysis.com statistics | August 2, 2026 |
| FY2025 revenue | $2.315 billion, up 80.17% from $1.285 billion, cross-validated across StockAnalysis.com and company reporting with 0.11% deviation | StockAnalysis.com financials and Wheaton FY2025 reporting | August 2, 2026 |
| FY2025 net income | $1.472 billion, up 178.13% from $529 million, cross-validated across StockAnalysis.com and company reporting with 0.07% deviation | StockAnalysis.com financials and Wheaton FY2025 reporting | August 2, 2026 |
| TTM financials | Revenue of $2.746 billion, net income of $1.800 billion, EPS of $3.96, operating cash flow of $2.310 billion | StockAnalysis.com financials | August 2, 2026 |
| Q1 2026 results | Record revenue of $901 million up 91.6%, record net earnings of $582 million up 129.2%, record adjusted net earnings of $583 million, record operating cash flow of $766 million up 112.3%, and a quarterly dividend of $0.195 up 18% | Wheaton Q1 2026 results release | August 2, 2026 |
| Q1 2026 production and margin | Attributable production of 211,951 GEOs up 21.5%, average cash cost of $681 per GEO, and a cash operating margin of $4,279 per GEO up 103% | Wheaton Q1 2026 results release | August 2, 2026 |
| Balance sheet at March 31, 2026 | Cash of $2.165 billion, total debt of $7.66 million, and net cash of about $2.157 billion before the April 1, 2026 Antamina funding | StockAnalysis.com balance sheet and Wheaton Q1 2026 results | August 2, 2026 |
| Antamina BHP transaction | BHP Antamina PMPA closed April 1, 2026 for a $4.3 billion upfront payment, giving Wheaton 67.5% of Antamina silver, funded by cash, a $2.0 billion revolving facility draw, and a new $1.5 billion term loan | Wheaton Q1 2026 results release | August 2, 2026 |
| 2026 and long-term outlook | 2026 attributable production guidance of 860,000 to 940,000 GEOs, with production projected to grow approximately 50% to 1.2 million GEOs by 2030 | Wheaton Q1 2026 results release | August 2, 2026 |
| Valuation check | Trailing PE of 27.43x, forward PE of 22.19x, PS of 17.98x, PB of 5.34x, EV/EBITDA of 20.70x, P/FCF of 49.21x, dividend yield of 0.66% | StockAnalysis.com statistics | August 2, 2026 |
| Forward valuation and estimates | FY2026 revenue estimate of $3.72 billion up 60.86% and FY2026 EPS estimate of $4.84; FY2027 revenue estimate of $4.20 billion and EPS estimate of $5.32 | StockAnalysis.com forecast | August 2, 2026 |
| Analyst consensus | Strong Buy with an average target of $172.25 across 16 analysts, low of $145, median of $167.5, and high of $215 | StockAnalysis.com forecast | August 2, 2026 |
| Analyst rating mix, July 2026 | 11 Strong Buy, 5 Buy, 0 Hold, 0 Sell out of 16 analysts | StockAnalysis.com forecast recommendation trends | August 2, 2026 |
| Recent analyst target updates | Berenberg lowered to $157 from $160, RBC maintained at $160, Scotiabank lowered to $175 from $180, BofA lowered to $145 from $163, Jefferies maintained at $177, UBS lowered to $150 from $165 | StockAnalysis.com forecast and TipRanks | August 2, 2026 |
| Short interest | 3.39 million shares short, 0.75% of shares outstanding, 1.5 days to cover | StockAnalysis.com statistics short selling | August 2, 2026 |
| Technical snapshot | 50-day SMA near $116.21, 200-day SMA near $124.22, 100-day SMA near $125.70, 14-day RSI near 45.43, 14-day ADX near 15.31, 14-day historical volatility near 40.6%, 20-day average volume near 1.6 million | Barchart and StockAnalysis.com technical snapshots | August 2, 2026 |
| 52-week range and beta | 52-week range of $90.95 to $165.76, 52-week price change of +19.81%, beta of 1.19 | StockAnalysis.com quote and statistics | August 2, 2026 |
| Financial-rigor verification | Market-cap math passed at 0.29% deviation; FY2025 revenue, FY2025 net income, and Q1 2026 revenue cross-validation passed; valuation and three-scenario calculations were run locally | Pineify tools/financial_rigor.py local run | August 2, 2026 |
This WPM AI stock analysis page is an informational tool only. It is not investment advice, a solicitation, or a guarantee of returns. Forecast ranges are scenarios based on available public data as of August 2, 2026 and can be wrong if metal prices, deliveries, counterparties, stream terms, costs, valuation multiples, or market conditions change.
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