Wheaton Precious Metals’ Sales Volume by Metal (2016-2023)

This statistic highlights Wheaton Precious Metals’ Sales Volume by Metal, split between Cobalt pounds, Gold, Gold equivalent ounces, Palladium, Silver and Silver equivalent ounces, reported quarterly from Q1 2016 onwards.

Wheaton Precious Metals’ Sales Volume by Metal 

Cobalt

The Cobalt sales volume has shown fluctuations over the quarters, with significant increases and decreases. In Q1 2023, the sales volume rose to 323,000 ounces contributing 7.59% to the total sales. The fluctuation in Cobalt sales can be attributed to factors such as market demand, changes in Cobalt prices, and variations in supply availability.

Gold

The Gold sales volume has been relatively stable, with minor fluctuations over the quarters. In Q1 2023, the sales volume stood at 62,605 ounces, contributing 1.47% to the total sales. The consistent Gold sales volume can be attributed to the company’s well-established Gold mining agreements and the steady demand for Gold as a safe-haven asset.

Gold Equivalent Ounces

Gold equivalent ounces represent the sales volume that combines Gold and other precious metals converted into their equivalent Gold value. The sales volume for Gold equivalent ounces has also shown fluctuations over the quarters. In Q1 2023, the sales volume was 117,283 ounces, contributing 2.76% to the total sales. Fluctuations in this category can be influenced by variations in production volumes and changes in metal prices.

Palladium

The Palladium sales volume has remained relatively steady, with minor fluctuations. In Q1 2023, the sales volume was 2,946 ounces, contributing 0.07% to the total sales. Palladium’s modest contribution is due to its relatively lower demand compared to other precious metals like Gold and Silver.

Silver

Silver sales volume has demonstrated significant fluctuations over the quarters. In Q1 2023, the sales volume was 3,749,000 ounces, contributing 88.11% to the total sales. The decline in Silver sales volume from previous quarters could be attributed to factors such as production constraints, changing market conditions, and adjustments in the company’s streaming agreements.

Silver Equivalent Ounces

Silver equivalent ounces represent the sales volume that combines Silver and other precious metals converted into their equivalent Silver value. The sales volume for Silver equivalent ounces was not available for Q1 2023.

Comparing Q1 2023 to the previous quarters, the total sales volume decreased significantly. The decline can be primarily attributed to the significant drop in Silver sales volume, which is the dominant metal contributing to the company’s sales.

In conclusion, Wheaton Precious Metals’ sales volume by metal indicates its exposure to a diverse portfolio of precious metals. The fluctuations in sales volumes across different metals are influenced by factors such as market demand, metal prices, and production levels. While Silver remains the primary revenue driver, the company’s consistent sales volume in Gold and efforts to diversify into other precious metals reflect a balanced approach to risk and opportunities in the precious metals market.

Company Overview 

Wheaton Precious Metals stands as a prominent player in the precious metals industry, renowned for its unique approach to streaming agreements. Founded in 2004, the company has forged strong partnerships with mining companies worldwide. Through these agreements, Wheaton provides upfront payments to secure the rights to purchase future metal production at predetermined prices.

The company boasts a diverse portfolio, encompassing 21 operating mines and 13 development stage projects. Among its noteworthy assets are gold and silver streams on prominent mines like Vale’s Salobo and Newmont’s Peñasquito.

Wheaton’s success is intrinsically tied to the prices of precious metals such as gold, silver, palladium, and cobalt. Market conditions and the performance of mining partners also influence its production profile. However, with its strategic alliances and focus on top-tier mines, Wheaton remains a trusted partner for mining companies seeking financial support. Through global presence and industry expertise, Wheaton Precious Metals continues to play a vital role in fulfilling the world’s demand for precious metals.

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