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Wheaton Precious Metals Announces Second Quarter Results for 2017 and a 43% Increase in Declared Dividend TSX: WPM NYSE: WPM VANCOUVER, Aug. 10, 2017 /PRNewswire/ - Wheaton Precious Metals\u2122 Corp. ("Wheaton Precious Metals" or the "Company") (WPM) (WPM) is pleased to announce its results for the second quarter ended June 30, 2017. All figures are presented in United States dollars unless otherwise noted. In the second quarter of 2017, Wheaton Precious Metals increased the percentage of cash flow used for the dividend distribution calculation from 20% to 30%, resulting in an increase to the quarterly dividend of over 40%. SECOND QUARTER HIGHLIGHTS Attributable production in Q2 2017 of 7.2 million ounces of silver and 78,100 ounces of gold, compared with 7.6 million ounces of silver and 71,200 ounces of gold in Q2 2016, with silver production having decreased 5% and gold production having increased 10%. On a silver equivalent basis1 and gold equivalent basis1 attributable production in Q2 2017 was 12.9 million silver equivalent ounces ("SEOs") or 176,600 gold equivalent ounces ("GEOs"), compared with 12.9 million SEOs or 172,600 GEOs in Q2 2016, with SEO production being virtually unchanged and GEO production having increased 2%. Sales volume in Q2 2017 of 6.4 million ounces of silver and 72,000 ounces of gold, compared with 7.1 million ounces of silver and 70,800 ounces of gold in Q2 2016, with silver sales volume having decreased 11% and gold sales volume having increased 2%. On a silver equivalent basis1 and gold equivalent basis1, sales volume in Q2 2017 was 11.6 million SEOs or 159,200 GEOs, compared with 12.5 million SEOs or 165,900 GEOs in Q2 2016, a decrease of 7% and 4%, respectively. As at June 30, 2017, payable ounces attributable to the Company produced but not yet delivered4 amounted to 4.2 million payable silver ounces and 52,900 payable gold ounces, representing an increase of 0.2 million payable silver ounces and 2,000 payable gold ounces during the three month period ended June 30, 2017. Revenues of $200 million in Q2 2017 compared with $212 million in Q2 2016, representing a decrease of 6%. Average realized sale price per ounce sold in Q2 2017 of $17.09 per ounce of silver and $1,263 per ounce of gold with the sale price of silver having decreased 1% while the sale price of gold was virtually unchanged compared to Q2 2016. Net earnings of $68 million ($0.15 per share) in Q2 2017 compared with $60 million ($0.14 per share) in Q2 2016, representing an increase of 12%. Operating cash flows of $125 million ($0.28 per share2) in Q2 2017 compared with $134 million ($0.31 per share2) in Q2 2016, representing a decrease of 7%. Cash operating margin2 in Q2 2017 of $12.58 per silver ounce sold and $870 per gold ounce sold, representing a reduction of 1% per silver ounce sold while the cash operating margin2 per ounce of gold sold was virtually unchanged as compared with Q2 2016. Average cash costs2 in Q2 2017 were $4.51 and $393 per ounce of silver and gold, respectively. Declared quarterly dividend of $0.10 per common share, representing an increase of 43% relative to the previous quarterly dividend. EVENTS SUBSEQUENT TO THE QUARTER On August 10, 2017, the Company announced that it has signed a non-binding term sheet with Desert Star Resources Ltd. ("Desert Star") to enter into an Early Deposit Precious Metals Purchase Agreement for the Kutcho project located in British Columbia. "Wheaton Precious Metals continues to generate strong operating margins from its portfolio of low-cost assets, resulting in close to $250 million in cash flow in the first half of 2017," said Randy Smallwood, President and Chief Executive Officer of Wheaton Precious Metals. "We are confident in our ability to continue to grow the Company by adding new high-quality streams to our portfolio, and we will remain disciplined and only do transactions that are accretive to our shareholders. As a result of our sector-leading cash flow as well as ample access to capital to finance acquisitions through our revolving credit facility, we have taken the step today to increase the amount of capital we return to our shareholders with a significant increase to our dividend." Financial Review Revenues Revenue was $200 million in the second quarter of 2017, on sales volume of 6.4 million ounces of silver and 72,000 ounces of gold. This represents a 6% decrease from the $212 million of revenue generated in the second quarter of 2016 due primarily to an 11% decrease in the number of silver ounces sold, partially offset by a 2% increase in the number of gold ounces sold. Costs and Expenses Average cash costs2 in the second quarter of 2017 were $4.51 per silver ounce sold and $393 per gold ounce sold, as compared with $4.46 per silver ounce and $401 per gold ounce during the comparable period of 2016. This resulted in a cash operating margin2 of $12.58 per silver ounce sold and $870 per gold ounce sold, a decrease of 1% per silver ounce sold while the cash operating margin2 per ounce of gold sold was virtually unchanged as compared with Q2 2016. The decrease in the cash operating margin was primarily due to a 1% decrease in the average realized silver price in Q2 2017 compared with Q2 2016. Earnings and Operating Cash Flows Net earnings and cash flow from operations in the second quarter of 2017 were $68 million ($0.15 per share) and $125 million ($0.28 per share2), compared with $60 million ($0.14 per share) and $134 million ($0.31 per share2) for the same period in 2016, an increase of 12% and a decrease of 7%, respectively. Balance Sheet At June 30, 2017, the Company had approximately $77 million of cash on hand and $953 million outstanding under the Company's $2 billion revolving term loan (the "Revolving Facility"). Second Quarter Asset Highlights During the second quarter of 2017, attributable production was 7.2 million ounces of silver and 78,100 ounces of gold, respectively, representing a decrease of 5% and an increase of 10%, as compared with the second quarter of 2016. Operational highlights for the quarter ended June 30, 2017, based upon counterparties' reporting, are as follows: Salobo In the second quarter of 2017, Salobo produced 57,500 ounces of attributable gold, an increase of approximately 61% relative to the second quarter of 2016. This growth was primarily due to the acquisition of an additional 25% of attributable gold from the Salobo mine in the third quarter of 2016. According to Vale S.A.'s ("Vale") second quarter of 2017 production report, production was positively impacted mainly due to higher feed grades and stronger plant performance in the second quarter. Peñasquito In the second quarter of 2017, Peñasquito produced 1.5 million ounces of attributable silver, an increase of approximately 71% relative to the second quarter of 2016. According to Goldcorp Inc.'s ("Goldcorp") second quarter of 2017 MD&A, higher production at Peñasquito was primarily due to higher grade ore as a result of mine sequencing in Phases 5 and 6, and higher mill throughput as the second quarter of 2016 included a prolonged period of planned and unplanned maintenance. https://finance.yahoo.com/news/wheaton-precious-metals-annou… |
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| aus der Diskussion: | Wheaton Precious Metals |
| Autor (Datum des Eintrages): | sneakee (16.08.17 13:48:59) |
| Beitrag: | 2 von 156 (ID:55535565) |
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