Make Kitco Your Homepage

Wheaton Precious Metals increases cash flow 40%

Kitco News

Wheaton Precious Metals (NYSE:WPM) said yesterday it increased operating cash flow 40% to $151 million in Q2.

The streaming and royalty company released its financial results yesterday.

Net debt was reduced by $80 million resulting in a net debt position of $509 million.

Attributable gold equivalent production was 140,000 ounces in the second quarter compared to 166,399 during the same period a year ago. The decline was due to a temporary shutdown of various mines resulting from COVID-19.

Wheaton's gold equivalent ounce outlook was down slightly from 685,000 to 725,000 to a revised 655,000 to 685,000.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.