Wheaton Precious Metals Corp.
Wheaton Precious Metals Corp. provides upfront capital to mining companies in exchange for the right to purchase a fixed percentage of a mine's future silver/gold (and other precious metal) production at a low, fixed cost, generating high-margin cash flow without direct operating, capex or exploration risk. Its streaming/royalty portfolio spans 22 operating mines and 26 development/other projects, including Salobo (Brazil), Peñasquito (Mexico) and Antamina (Peru, where Wheaton announced its largest-ever streaming transaction in Q1 2026, in partnership with BHP). Haytham Hodaly is President and CEO; Gary Brown is Senior VP and CFO. Q1 2026 was a record quarter: $901 million revenue, $582 million net earnings, $766 million operating cash flow.
Notable vs. Peers
- Financials score of 4.8/10 is weaker than the peer average of 7.6/10.
- Jurisdiction risk score of 9/10 is meaningfully safer than the peer average of 6.9/10.
Your Rankings
Wheaton Precious Metals Corp. does not operate mines, so it has no technical study of its own. What it holds instead is a book of royalty and stream interests in other companies' assets -- the portfolio below. Only figures the company has actually disclosed are shown; nothing here is estimated.
| Asset | Commodity | Interest | Rate / price | Stage |
|---|---|---|---|---|
Antamina Compañía Minera Antamina S.A. (BHP/Glencore/Teck/Mitsubishi joint venture) · Peru 67.5% silver stream, effective Apr 1, 2026, $4.3B upfront consideration. Franco-Nevada separately holds a 22.5% silver stream on the same mine (see FNV's Antamina row above) -- 90% of Antamina's silver by-product stream is split between the two majors. | Silver | Stream | 67.5%20% of spot silver price per oz delivered (payable percentage of production, not a fixed $/oz) | — |
Salobo Vale S.A. · Brazil Gold stream on Vale's Salobo copper-gold mine, Para state, Brazil. Q4 2025 record 88,900oz attributable gold. Exact stream percentage/price not retrieved -- findings doc flags this as a gap. | Gold | Stream | — | — |
Peñasquito Newmont Corporation · Mexico Silver stream on Newmont's Peñasquito mine, Zacatecas, Mexico. Q4 2025 1.8Moz attributable silver. Exact stream percentage/price not retrieved -- findings doc flags this as a gap. | Silver | Stream | — | — |
Constancia Hudbay Minerals Inc. · Peru Silver stream on Hudbay's Constancia copper mine, Cusco, Peru. Declining post-Pampacancha satellite-deposit depletion (Dec 2025). Exact stream percentage/price not retrieved -- findings doc flags this as a gap. | Silver | Stream | — | Production |
Blackwater Artemis Gold Inc. · Canada Gold and silver stream on Artemis Gold's Blackwater mine, British Columbia, Canada -- ramping toward design rate. Stage recorded as PRODUCTION (commercial production underway); the Stage enum has no separate 'ramping' bucket. Exact stream percentage/price not retrieved -- findings doc flags this as a gap. | Gold | Stream | — | Production |
Goose B2Gold Corp. · Canada Gold stream on B2Gold's Goose mine (Back River Gold District), Nunavut, Canada -- ramping toward design rate. Stage recorded as PRODUCTION for the same reason as Blackwater above. Exact stream percentage/price not retrieved -- findings doc flags this as a gap. | Gold | Stream | — | Production |
Management Team
President and Chief Executive Officer of Wheaton Precious Metals Corp. since 31 Mar 2026, succeeding Randy Smallwood (who became non-executive Chair). Joined Wheaton in 2012 as SVP Corporate Development, promoted to President in 2025; oversaw more than $11 billion in streaming transactions during his tenure. Before Wheaton, spent 16+ years in North American securities, most recently as Director and Mining Analyst, Global Mining Research at RBC Capital Markets, and earlier Co-Director of Research and Senior Mining Analyst at Salman Partners Inc.
Senior Vice President and Chief Financial Officer of Wheaton Precious Metals Corp. since 31 Mar 2025, having served as Wheaton's Vice President of Finance for the prior 13 years. Before Wheaton, held finance roles at CHC Helicopter (Senior Manager, Financial Planning and Analysis, 2009-2011) and KPMG (Director, M&A Transaction Services, New York, 2008-2009). Bachelor of Commerce (Honours, Accounting), University of British Columbia; CPA, CA; CFA.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Task #172 smartMoneyScore pilot (rubric: playbook §7.6). DELIBERATELY NOT SCORED -- above the US$5B applicability gate (marketCapUsd ~$56.90B), the largest company in the pilot. Same reasoning as FNV: mega-cap streaming company and core index constituent, so specialist positioning is not a meaningful axis; and independently there is nothing to score from -- institutionalOwnershipPct and managementOwnershipPct both null, zero MinerHolder rows, zero InsiderTransaction rows. RESEARCHED_UNKNOWN on both grounds. Source: Wheaton Precious Metals corporate/IR site https://www.wheatonpm.com/ ; DB state check performed 2026-08-15 (no MinerHolder or InsiderTransaction rows). PILLARS: GATED: marketCapUsd ~$56.90B >= $5.0B applicability threshold
No notable insiders tracked for this miner yet.