Stock Monitor: Silvercorp Metals Post Earnings Reporting
LONDON, UK / ACCESSWIRE / June 18, 2018 / If you want access to our free earnings report on Wheaton Precious Metals Corp. (NYSE: WPM) ("Wheaton"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=WPM. The Company reported its first quarter fiscal 2018 operating and financial results on May 10, 2018. The silver and gold streaming Company surpassed earnings expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:
Active-Investors.com is currently working on the research report for Silvercorp Metals Inc. (NYSE AMER: SVM), which also belongs to the Basic Materials sector as the Company Wheaton Precious Metals. Do not miss out and become a member today for free to access this upcoming report at:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Wheaton Precious Metals most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
During Q1 2018, Wheaton's revenues were $199 million, on sales volume of 6.3 million ounces of silver and 70,000 ounces of gold. This represented an increase of 1% from the $198 million of revenues generated in Q1 2018; primarily due to an increase of 21% in the number of silver ounces sold, coupled with an increase in the average realized gold price of 10% to $1,330 in Q1 2018 compared to $1,208 in Q1 2017. The Company's revenue numbers lagged analysts' estimates by $9.8 million.
During Q1 2018, Wheaton's average cash costs were $4.49 per silver ounce sold and $399 per gold ounce sold, compared to $4.54 and $391, respectively, during Q1 2017. This resulted in a cash operating margin of $12.24 per silver ounce sold and $931 per gold ounce sold; representing a drop of 5% per silver ounce sold and an increase of 14% per ounce of gold sold compared to Q1 2017.
For Q1 2018, Wheaton reported net earnings of $68.1 million, or $0.15 per diluted share, compared to $61.2 million, or $0.14 per diluted share, in Q1 2017. The Company's adjusted net earnings were $70 million, or $0.16 per share, in the reported quarter compared to $61 million, or $0.14 per share, in the year earlier same quarter, and were ahead of Wall Street's estimates of $0.15 per share.
During Q1 2018, Wheaton's attributable production was 7.4 million ounces of silver and 79,700 ounces of gold, representing an increase of 12% and a decrease of 5%, respectively, compared to Q1 2017. The increase in attributable silver production for the reported quarter was primarily due to a higher production from the San Dimas mine. The decrease in attributable gold production for Q1 2018 was a result of a lower production at the Minto and Sudbury mines.
For Q1 2018, Wheaton's Salobo mine produced 61,500 ounces of attributable gold; representing an increase of approximately 6% compared to Q1 2017, as higher grades were partially offset by a lower recovery. The Company's Peñasquito mine produced 1.4 million ounces of attributable silver, reflecting an increase of approximately 8% on a y-o-y basis.
For Q1 2018, Wheaton's Antamina mine produced 1.3 million ounces of attributable silver, down 9% on a y-o-y basis. During Q1 2018, the Company's San Dimas mine produced 1.6 million ounces of attributable silver; representing an increase of approximately 158% versus Q1 2017, as the prior year's comparable quarter production was impacted by a strike initiated by the union at San Dimas on February 15, 2017.
During Q1 2018, Wheaton's Constancia mine produced 0.6 million ounces of attributable silver and 3,300 ounces of attributable gold; reflecting an increase of approximately 20% and 36%, respectively, relative to the first quarter of 2017, primarily due to a higher throughput.
During Q1 2018, Wheaton's total Other Silver attributable production was 2.4 million ounces, down 11% on a y-o-y basis. The decrease was driven primarily by the cessation of production at the Cozamin mine, as the Cozamin silver purchase agreement with Capstone Mining Corp. expired on April 04, 2017.
For Q1 2018, Wheaton's total Other Gold attributable production was 8,400 ounces; reflecting a decrease of approximately 41% compared to Q1 2017, primarily due to a lower production at the Minto mine due to a lower grade mill feed during the reported quarter.
Produced but Not Yet Delivered
As at March 31, 2018, Wheaton's payable ounces attributable to the Company produced but not yet delivered amounted to 4.8 million payable silver ounces and 84,800 payable gold ounces, representing an increase of 0.3 million payable silver ounces and 5,300 payable gold ounces during the reported quarter.
At March 31, 2018, Wheaton had approximately $116 million of cash on hand and $663 million outstanding under its $2 billion revolving term loan. The Company's operating cash flow was $125 million in the reported quarter compared to $120 million in the year earlier corresponding quarter.
Wheaton's estimated attributable silver and gold production is forecasted to be approximately 22.5 million silver ounces and 355,000 gold ounces for 2018. The Company's estimated average annual attributable silver and gold production over the next five years (including 2018) are anticipated to be approximately 25 million silver ounces and 370,000 gold ounces per year.
Stock Performance Snapshot
June 15, 2018 - At Friday's closing bell, Wheaton Precious Metals' stock marginally declined 0.54%, ending the trading session at $22.15.
Volume traded for the day: 2.60 million shares, which was above the 3-month average volume of 1.65 million shares.
Stock performance in the last month – up 3.17%; previous three-month period – up 12.32%; past twelve-month period – up 16.27%; and year-to-date – up 0.09%
After last Friday's close, Wheaton Precious Metals' market cap was at $9.86 billion.
Price to Earnings (P/E) ratio was at 151.71.
The stock has a dividend yield of 1.63%.
The stock is part of the Basic Materials sector, categorized under the Silver industry.
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email email@example.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.