Wheaton Precious Metals stock gets Edison estimate reset ahead of Q3

Wheaton Precious Metals stock is entering the final stretch before its third-quarter report with a revised analyst outlook. In a research note published Tuesday, November 3, Edison Investment Research cut its fiscal 2026 earnings-per-share estimate by 5.3 percent but lifted its fiscal 2027 estimate by 13.7 percent, according to an AD HOC NEWS report on the Edison note.

What Changed In The Forecast

Edison linked the revision to precious-metals prices and production updates from Salobo, Sudbury, Antamina, Penasquito, Blackwater and Hemlo. The changes give investors a more differentiated view ahead of the company’s release after the Toronto market close on Thursday, November 5.

Salobo was the main operating factor in the preview. Vale reported third-quarter copper production of 57,600 tonnes at the Brazilian mine, above the 52,400 tonnes recorded in the second quarter and Edison’s earlier expectation of 50,000 tonnes. Edison estimates Wheaton’s attributable gold production from Salobo at 79,926 ounces for the quarter.

Higher mine output may not immediately translate into reported sales. Streaming deliveries can lag production by as much as three months, and Edison expects Salobo sales to remain closer to the first-quarter level of 58,675 ounces. The analyst also estimates that gold sales could trail production by 26.4 percent and silver sales by 20.4 percent in the quarter.

Pipeline Adds Longer-Term Support

Vale’s approved Coarse Particle Flotation project at Salobo is expected to raise plant capacity by 50 percent and add approximately 15,000 ounces of annual gold production, with start-up planned for the first half of 2028. Edison also included Copper World in its model after construction and development received approval from Hudbay Minerals and Mitsubishi.

Wheaton’s longer-term production guidance targets 1.2 million gold-equivalent ounces by 2030, compared with fiscal 2026 guidance of 860,000 to 940,000 ounces. The November report will show how much of the production backdrop has converted into sales and cash flow.

Wheaton Precious Metals stock traded at EUR 106.18 on Lang & Schwarz at 16:44 CET on Tuesday, November 3, 2026, 1.09 percent below the Xetra close of EUR 107.35 on Monday, November 2, 2026. The real-time quote of Wheaton Precious Metals stock is available separately.

The S&P/TSX Composite provides the broader Canadian market backdrop for Wheaton’s primary listing. Current market reports cover the wider market environment.

More news and analyses on Wheaton Precious Metals stock will follow as the company reports its quarterly figures and management discusses cash flow, leverage and the streaming pipeline.