WPM reports Q2 net profit of $543.2M, up from $292.3M a year ago, driven by a 61% rise in gold equivalent prices.
Wheaton Precious Metals posted a Q2 net profit of $543.2M, or $1.19 per share, nearly doubling from $292.3M, or $0.64 per share, in the same period last year. The surge was fueled by a 61% increase in the average realized gold equivalent price.
Revenue for the quarter reached a record, reflecting stronger commodity prices and operational performance. The prior-year period had seen lower gold and silver prices, which weighed on earnings.
Shares of WPM rose 5.9% in pre-market trading following the earnings release.