Should You Buy, Sell or Hold WPM Stock Before Q4 Earnings Release?

Wheaton Precious Metals Corp. WPM is scheduled to report fourth-quarter 2025 results on March 12, after market close. WPM is expected to deliver a solid year-over-year improvement in earnings in the quarter.

The Zacks Consensus Estimate for Wheaton Precious Metals’ fourth-quarter sales is pegged at $649 million, indicating a 70.5% surge from the prior-year quarter’s reported figure.

The consensus mark for WPM’s earnings is pegged at 93 cents per share, indicating year-over-year growth of a whopping 111.4%.

Earnings estimates have moved up 4.5% in the past 60 days.

WPM’s Earnings Surprise History

Wheaton Precious Metals’ earnings have outpaced the consensus estimate in three of the trailing four quarters, while matching once, the average surprise being 5.9%.

What the Zacks Model Unveils for Wheaton Precious Metals

Our model predicts an earnings beat for Wheaton Precious Metals this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. That is precisely the case here, as you can see below.

You can uncover the best stocks before they are reported with our Earnings ESP Filter.

Earnings ESP: Wheaton Precious Metals has an Earnings ESP of +14.41%.

Zacks Rank: WPM currently carries a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Factors Likely to Have Shaped WPM’s Q4 Performance

Wheaton Precious Metals is likely to have delivered a strong performance in the fourth quarter of 2025, building on the robust momentum seen earlier in the year. 

Wheaton Precious Metals reported production of 692,000 gold equivalent ounces in 2025, surpassing its guidance of 600,000-670,000 ounces. The upside was driven by solid performance at Salobo due to higher gold grades. Recoveries, higher throughput and grades at Peñasquito, and higher grades at Constancia also aided the improvement. However, the gains were partially offset by lower production from Goose and Mineral Park due to slower ramp-up progress.

The company produced 416,286 ounces of gold in 2025, marking a year-over-year improvement of 9.7%. Silver production came in at 22 million ounces, up from 16 million ounces in 2024. 

Year-over-year increases in silver and gold output, along with higher prices, are likely to have translated to higher revenues in the quarter.

Overall, the company’s fourth-quarter results are expected to reflect the gains of higher gold and silver prices. In the October-December period, gold prices remained near record high levels, supported by uncertainty regarding U.S trade and tariff policies. Solid demand from central banks boosted gold prices. 

WPM’s peers SSR Mining Inc. SSRM and Hudbay Minerals Inc. HBM benefited from higher gold and silver prices in the fourth-quarter 2025.

WPM’s Price Performance & Valuation

Wheaton Precious Metals shares have surged 112.3% in a year, outpacing the industry's 52.5% growth. In comparison, the Zacks Basic Materials sector and the S&P 500 have returned 47.5% and 24.6%, respectively.

WPM is currently trading at a forward 12-month price-to-earnings multiple of 35.24X, a premium to the industry average of 14.28X.

In comparison, both SSR Mining and Hudbay Minerals are trading at much cheaper valuations. SSR Mining is trading at 8.01X, whereas Hudbay Minerals is trading at 13.39X.

Investment Thesis on Wheaton Precious Metals

Wheaton Precious Metals expects production to increase 50% to 1,200,000 GEOs by 2030. This will be primarily due to growth from operating assets, including Antamina, Aljustrel and Marmato, and development assets, including Blackwater, Mineral Park, Goose, Platreef, Fenix, Kurmuk and the Kone projects. Development projects that are in construction and/or permitted will also boost growth.

Along with other projects, the company expects Salobo to be a significant growth driver. Wheaton Precious continues to add streams, which have brought immediate production, as well as medium and longer-term growth, to its robust portfolio of assets.

Should You Buy WPM Now?

Wheaton Precious is expected to post strong fourth-quarter 2025 results, mainly driven by higher gold and silver production. Backed by solid assets, production profile and rising gold prices, WPM is well-positioned for growth. However, slower ramp-up progress at certain mines and premium valuation suggest caution for new investors. Existing shareholders should stay invested in the WPM stock to benefit from its solid long-term growth prospects.

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This article originally published on Zacks Investment Research (zacks.com).

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