Why Wheaton Precious Metals (TSX:WPM) Is Up 9.7% After Striking $300 Million Gold Stream Deal With Hemlo

• Wheaton Precious Metals announced it has completed a US$300 million Gold Stream agreement with Hemlo Mining Corp., supporting Hemlo's acquisition of the Hemlo Mine and granting Wheaton the right to purchase a staged percentage of the mine’s gold production.
• This deal immediately increases Wheaton’s proven and probable gold reserves by 0.19 million ounces and secures future rights to precious-metal streaming opportunities from the Hemlo asset.
• We’ll now explore how this expanded production profile from the Hemlo Gold Stream could influence Wheaton’s long-term investment outlook.

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Wheaton Precious Metals Investment Narrative Recap

To believe in Wheaton Precious Metals as an investment, you generally need to have confidence in the ongoing appeal of precious metals streaming, Wheaton's ability to secure new deals, and strong pricing for gold and silver. The recent Hemlo Gold Stream bolsters near-term production and reserve levels, which may provide incremental support to expected cash flow, but it does not materially alter the key short-term catalyst: successfully ramping up organic growth projects like Salobo III and Blackwater. The principal risk remains: increased competition for new high-margin streams could eventually limit Wheaton's ability to add large, accretive deals.

Among recent announcements, the November 2025 Q3 earnings release stands out. Wheaton reported $476.26 million in sales and a significant increase in net income compared to the prior year period. While the Hemlo stream expands the production base, it is the company’s execution on existing organic growth projects and strong near-term profitability, as reflected in these results, that will be most impactful to the immediate growth narrative.

In contrast, investors should also be aware that persistent pressure from competitors for attractive streaming agreements could affect Wheaton’s ability to maintain...

Read the full narrative on Wheaton Precious Metals (it's free!)

Wheaton Precious Metals' outlook forecasts $2.2 billion in revenue and $1.1 billion in earnings by 2028. This implies a 9.2% annual revenue growth rate and an earnings increase of $311 million from the current earnings of $789 million.

Uncover how Wheaton Precious Metals' forecasts yield a CA$182.74 fair value, a 19% upside to its current price.

Exploring Other Perspectives

Seven individual fair value estimates from the Simply Wall St Community range from CA$111.58 to CA$186.39. As Wheaton continues expanding its streaming portfolio, competitive pressure for large, high-quality deals could be significant. Compare these varied opinions to your own assessment and weigh the broader risks and catalysts shaping the company’s outlook.

Explore 7 other fair value estimates on Wheaton Precious Metals - why the stock might be worth as much as 21% more than the current price!

Build Your Own Wheaton Precious Metals Narrative

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• A great starting point for your Wheaton Precious Metals research is our analysis highlighting 2 key rewards that could impact your investment decision.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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