Video: Randy Smallwood discusses WPM’s Q3 performance, organic growth prospects

Wheaton Precious Metals (NYSE: WPM; TSX: WPM) has reported earnings per share and revenue for the three months ended September that missed the consensus mark, despite record revenue for the year to date.

The Vancouver-based precious metals streaming pioneer reported US$269 million in revenue during the third quarter, down 12.5% from the same period a year ago and missing consensus estimates by US$36.4 million. Headline earnings per share came in at US30c per share, missing analyst estimates by US3c.

Wheaton said a significant build-up of payable ounces produced but not yet delivered at Vale’s (NYSE: VALE) Salobo mine and a 4% decrease in the average realized gold equivalent price was partially to blame for the decline.

Revenues for the three quarters to date totalled a record US$650 million, compared with US$555 million during the same period a year ago.

Gold equivalent ounces production was up 2.1% year-on-year at 184,918 ounces.

As of the end of September, Wheaton said it had US$372 million in cash on hand and $2 billion of additional capacity through the revolving credit facility.

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