Wheaton’s (WPM) Profits Nearly Doubled While Its Cash Pile Shrank To $100M

Wheaton Precious Metals reported second-quarter results on August 6 that marked record profitability for the precious metals streaming company. Net earnings reached $543 million on $929 million in revenue, with first-half earnings climbing 106% to $1.1 billion. The company generated $650 million in operating cash flow during the quarter and $1.4 billion for the half-year period.
The earnings surge was driven primarily by a significant increase in metal prices rather than volume growth. The comp