Wheaton Precious Metals WPM is scheduled to report third-quarter 2026 results on Nov. 5, after market close.
The Zacks Consensus Estimate for Wheaton Precious Metals’ third-quarter sales is pegged at $806 million, indicating 69.2% growth from the prior-year quarter’s reported figure. The consensus mark for WPM’s earnings is pegged at 93 cents per share, suggesting year-over-year growth of 50%. Earnings estimates have moved down 17% in the past 60 days.
WPM’s Earnings Surprise History
Wheaton Precious Metals’ earnings have outpaced the consensus estimate in the trailing four quarters, the average surprise being 12.7%.
What the Zacks Model Unveils for Wheaton Precious Metals
Our model does not predict 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 not the case here. 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 -0.32%.
Zacks Rank: WPM currently carries a Zacks Rank of 4.
Factors Likely to Have Shaped WPM’s Q3 Performance
Wheaton Precious Metals is likely to have delivered a strong performance in the third quarter of 2026, building on the robust momentum seen in the first half of the year.
Wheaton Precious Metals projects an attributable production of 860,000-940,000 gold-equivalent ounces (GEOs) for 2026. The mid-point of the range indicates a 30% year-over-year increase in production. This outlook reflects higher attributable production from Antamina, the start-up of several development projects (Blackwater, Goose, Mineral Park and Platreef) and a stable forecast for Salobo production.
Our model projects WPM’s total attributable production of 226,771 GEOs for the third quarter of 2026, indicating a 11.5% year-over-year increase. The production figure includes attributable gold production of 98,177 ounces (a 1.8% year-over-year decrease).
Our model projects a 0.7% year-over-year rise for the third quarter at Salobo, attributable to gold production of 89,948 ounces. Gold production at Sudbury is expected to be 3.1% lower year over year at 6,720 ounces. At Constancia, attributable gold production is projected to be 70.6% lower at 7,523 ounces due to decreased gold grades.
Our model projects WPM’s third-quarter gold sales volume of 78,072 ounces, indicating a 1.1% year-over-year dip. Gold realized prices are expected to be $$4,249 per ounce, suggesting a 22.1% year-over-year rise.
The company’s third-quarter 2026 total gold sales are projected at $332 million, implying a 20.7% year-over-year rise. Gold sales are expected to have contributed 41.2% to WPM’s total sales.
Our model projects 7.40 million ounces of total attributable silver production (up 24.1% year over year). Wheaton Precious Metals’ silver sales volume is expected to be 6.26 million ounces. Silver realized prices are expected to be $72.48 per ounce, suggesting 82.7% year-over-year growth. This is likely to lead to silver sales of $454 million, indicating a 140.5% year-over-year rise. Silver sales are expected to contribute 56.3% to the total sales.
Attributable production of palladium is projected at 2,923 ounces (up 10.4% year over year), while production for cobalt is expected at 676 thousand pounds (up 27.8%). Other metals’ production is projected at 5,357 GEOs for the third quarter.
Our model projects Wheaton Precious Metals to sell 154,747 GEOs in the third quarter, 4.4% lower than the prior-year quarter’s actual. Overall, the company’s third-quarter results are expected to reflect the gains from higher gold and silver prices.
Wheaton Precious Metals Stock’s Price Performance
WPM shares have gained 22.6% over the past year compared with the industry's 11.9% growth.
Stocks to Consider
Here are some other stocks with the right combination of elements to also post an earnings beat in their upcoming releases.
Perimeter Solutions, SA PRM, scheduled to release third-quarter 2026 earnings on Nov. 5, has an Earnings ESP of +3.16% and a Zacks Rank of 2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Perimeter Solutions’ earnings for the third quarter of 2026 is pegged at 95 cents per share, indicating 15.8% growth from the year-ago quarter's reported figure. PRM has a trailing four-quarter average earnings surprise of 61.6%.
Avient AVNT, scheduled to release third-quarter 2026 earnings on Nov. 4, has an Earnings ESP of +0.58% and a Zacks Rank of 3 at present.
The Zacks Consensus Estimate for earnings for Avient for the third quarter of 2026 is 81 cents per share, indicating a 15.7% year-over-year increase. Avient has a trailing four-quarter average earnings surprise of 3.4%.
Air Products and Chemicals APD, scheduled to release third-quarter 2026 earnings on Nov. 5, has an Earnings ESP of +0.44% and a Zacks Rank of 3 at present.
The Zacks Consensus Estimate for earnings for Air Products and Chemicals for the third quarter of 2026 is pegged at $3.60 per share, suggesting a 6.2% year-over-year increase. APD has a trailing four-quarter average earnings surprise of 2.9%.
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Wheaton Precious Metals Corp. (WPM): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).