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Verdict
Quantitative factor alignment verified for current market regime.
Quant Score
Rank
#236
Positioning
Market Dominance
Mining
Precious Metals
$25.3B
Randy Vernon Joseph Smallwood
Wheaton Precious Metals Corp. sells gold, silver, palladium, and cobalt deposits. It has a portfolio of interests in the 23 operating mines and 13 development projects. The company was formerly known as Silver Wheaton Corp.
Headcount
40
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Dates updated upon official exchange announcement.
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| Stock | Rating | Score▼ | Quality | Value | Momentum | P/E | EV/EBITDA | ROE | ROA | Gross Mgn | Op Mgn | Net Mgn | Rev Growth | Div Yield | D/E | Mkt Cap | AUDIT |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
$VALE Vale S.A. | 75 | 88 | 93 | 67 | - | - | 15.8% | 6.9% | 36.6% | 22.8% | 15.9% | -8.9% | 0.0% | 0.0x | $38.7B | VS | |
$SU SUNCOR ENERGY INC | 74 | 87 | 90 | 53 | - | - | 13.1% | 6.5% | 58.3% | 18.4% | 11.0% | -3.6% | 4.9% | 29.0x | $46.0B | VS | |
$TRX TRX GOLD Corp | 72 | 83 | 77 | 96 | - | - | 10.7% | 6.1% | 41.5% | 27.8% | 11.4% | 40.0% | 0.0% | 2.0x | $104M | VS | |
$ORLA Orla Mining Ltd. | 72 | 94 | 83 | 78 | - | - | 19.6% | 15.7% | 74.8% | 47.5% | 26.2% | 47.2% | 0.0% | 0.0x | $1.7B | VS | |
$KGC KINROSS GOLD CORP | 71 | 83 | 89 | 79 | - | - | 15.1% | 9.3% | 37.8% | 31.6% | 20.0% | 21.3% | 1.3% | 21.0x | $11.4B | VS | |
$AEM AGNICO EAGLE MINES LTD | 71 | 80 | 80 | 71 | - | - | 9.4% | 6.5% | 60.5% | 36.0% | 22.9% | 25.0% | 2.0% | 6.0x | $38.9B | VS | |
$RIO RIO TINTO PLC | 70 | 76 | 84 | 64 | - | - | 20.3% | 11.2% | 23.0% | 20.1% | 23.1% | -1.3% | 11.2% | 26.0x | $93.8B | VS | |
$IAG IAMGOLD CORP | 70 | 71 | 82 | 89 | - | - | 29.9% | 17.1% | 33.7% | 57.8% | 51.9% | 65.4% | 0.0% | 34.0x | $2.5B | VS | |
$NGD New Gold Inc. /FI | 70 | 76 | 67 | 92 | - | - | 11.1% | 4.8% | 52.8% | 19.7% | 11.1% | 17.5% | 0.0% | 38.0x | $1.7B | VS | |
$PDS PRECISION DRILLING Corp | 70 | 77 | 90 | 65 | - | - | 6.6% | 3.6% | 34.4% | 11.0% | 5.9% | -10.0% | 0.0% | 52.0x | $876M | VS | |
$WPM Wheaton Precious Metals Corp. | 66 | 78 | 68 | 70 | - | 18.9x | 29.2% | 28.5% | 62.9% | 50.9% | 41.5% | 25.6% | 1.1% | 0.0x | $25.3B | ||
| SECTOR BENCH | - | - | - | - | - | 13.7x | 5.2x | 4.0% | 3.9% | 43.2% | 12.2% | 6.2% | 2.6% | 0.0% | 0.3x | - | REF |
Wheaton Precious Metals Corp. (WPM) receives a "Buy" rating with a composite score of 66.1/100. It ranks #236 out of 7,333 stocks in our coverage universe and carries a 4-star rating. Ratings are driven by a 6-factor quantitative model measuring quality, value, momentum, investment, stability, and short interest.
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YOY expansion rate
Core pricing power
Operating efficiency
Bottom-line conversion
Equity capital efficiency
Asset base utilization
Financial leverage load
Direct cash return
Randy Vernon Joseph Smallwood
Chief Executive Officer
Labor Force
40
78
43
76
Audit Verdict: Average governance indicators based on financial metrics.
No recent insider transactions available for WPM
HQ Base
Vancouver, British Columbia
Outperforming peers — winners tend to keep winning over 3-12 months
Trading at a discount to fundamentals — favorable entry valuation
High profitability & efficiency — strong quality floor supports entry
Low volatility — smoother ride and historically better risk-adjusted returns
Moderate investment profile
Top-rated overall — multiple factors aligned for strong entry
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Relative valuation derived from Mining sector benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Re-calculated daily.
No analyst ratings for WPM.
View All RatingsConservative accounting — High cash conversion efficiency
Improving capital utilization rates confirmed
High margin volatility — erratic forensic earnings quality
| Factor | Global | Sector | Tilt |
|---|---|---|---|
| PROFITABILITY | 78 | 89 | -11DRAG |
| MOMENTUM | 70 | 76 | -6DRAG |
| VALUATION | 68 | 77 | -9DRAG |
| INVESTMENT | 43 | 66 | -23DRAG |
| STABILITY | 76 | 85 | -9DRAG |
| SHORT INT | 59 | 72 | -13DRAG |
Global = full universe. Sector = relative to industry peers. Positive tilt indicates idiosyncratic strength.
ROE proxy 29.2% (sector 4.0%)
GM 63% vs sector 43%, OM 51% vs sector 12%
Capital turnover N/A
Rev growth 26%, 8yr history
Interest coverage N/A, Net debt/EBITDA -0.9x
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation and elite competitive moats.
Profit generated per dollar of shareholder equity
Efficiency of asset utilization
Pricing power and cost efficiency
Core business profitability
Bottom-line profitability
The Quality factor evaluates the persistence and magnitude of realized cash flows. Companies with scores >70 exhibit superior pricing power and structural financial resilience through diverse economic regimes.
Our uncertainty rating tracks the predictability of future cash flows and potential for permanent capital loss. Moderate visibility with standard industry cyclicality.
Wheaton Precious Metals Corp. receives a Buy rating with a composite score of 66.1/100 and 4 out of 5 stars, ranking #236 of 7,333 stocks in our universe. WPM displays a favorable combination of factors that positions it above the majority of the market. While not without risk, the quantitative profile supports a constructive outlook.
WPM earns a quality score of 78/100, indicating above-average business quality. The company reports a return on equity of 29.2% (sector avg: 4.0%), gross margins of 62.9% (sector avg: 43.2%), net margins of 41.5% (sector avg: 6.2%). Companies in this tier generally demonstrate consistent profitability and efficient capital deployment, though they may face some competitive pressure.
WPM's value score of 68/100 indicates the stock is fairly valued based on its current fundamentals. Key valuation metrics include an EV/EBITDA of 18.89x, a P/B ratio of 9.41x. At this level, neither a clear bargain nor overpriced, the stock's attractiveness depends more on forward growth expectations and qualitative factors.
With an investment score of 43/100, WPM exhibits moderate growth-oriented spending. Key growth metrics include revenue growth of 25.6% vs. a sector average of 2.6% and a return on assets of 28.5% (sector: 3.9%). The company appears to be balancing growth investments with capital returns, though the pace of investment may not be enough to accelerate top-line growth meaningfully.
WPM shows strong momentum characteristics with a score of 70/100. The stock has been trending above key moving averages, indicating solid demand from institutional buyers. Revenue growth stands at 25.6% year-over-year, while a beta of 0.32 reflects its sensitivity to broader market moves. This level of momentum typically signals sustained investor confidence and favorable near-term price action.
WPM shows good financial stability with a score of 76/100. Key stability metrics include a beta of 0.32 and a debt-to-equity ratio of 0.00x (sector avg: 0.3x). This suggests manageable leverage and moderate price volatility, making it appropriate for investors seeking a balance between growth potential and capital preservation.
The short interest score of 59/100 for WPM suggests somewhat elevated bearish positioning by institutional traders. With a $25.3B market cap (large-cap), Wheaton Precious Metals Corp. may experience above-average volatility. Investors should consider whether the short thesis has merit or if it creates a potential short-squeeze opportunity.
WPM offers a modest dividend yield of 1.1%. While the income contribution is relatively small, even a small dividend signals management's commitment to shareholder returns and can serve as a signal of financial discipline.
Wheaton Precious Metals Corp. is a large-cap company in the Mining sector, ranked #23 of 50 in its sector (54th percentile) and #236 of 7,333 overall (97th percentile). Key comparisons include ROE of 29.2% exceeding the 4.0% sector median and operating margins of 50.9% above the 12.2% sector average. This above-median position indicates WPM is outperforming a majority of its Mining peers, though there is room to close the gap with sector leaders.
Quant Factor Profile
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Investment (43) is the limiting factor — improvement here would lift the composite score most.
RANK #23 OF 50 IN ENERGY
EV/EBITDA 261% ABOVE SECTOR MEDIAN
ROE 636% ABOVE SECTOR MEDIAN (FAVORABLE)
Gross Margin 46% ABOVE SECTOR MEDIAN (FAVORABLE)
AUDIT DATA AS OF DEC 31, 2024 (Q3 FY2024)
We rate Wheaton Precious Metals Corp. (WPM) as a Buy with a composite score of 66.1/100 at a current price of $157.10. The stock scores above average across the majority of our six quantitative factors and ranks #236 out of 7,333 stocks in our universe, reflecting a favorable risk-reward profile.
The rating is primarily driven by strength in quality (78th percentile) and stability (76th percentile), which together account for the majority of the composite score. All factors score above the 40th percentile, indicating no material weakness in the quantitative profile. We assign a Narrow Moat rating (58/100), Low uncertainty, and Exemplary capital allocation.
Key items to watch: sustainability of the current growth rate. Any material change in these dynamics could warrant a reassessment of our rating. The moat trend is stable, which suggests the competitive landscape is stable for now.
Wheaton Precious Metals Corp. holds an above-average position (#23 of 50) within the Mining sector, based on our composite quantitative scoring across quality, value, momentum, and stability factors. The composite score of 66.1/100 places it at rank #236 in our full 7,333-stock universe. With a $25.3B market capitalization, Wheaton Precious Metals Corp. operates at meaningful scale within the Mining sector, providing competitive advantages in distribution, procurement, and customer reach.
The near-term outlook is constructive, with revenue growing at 26% and momentum in the 70th percentile confirming positive market sentiment and institutional accumulation. The combination of strong top-line growth and favorable price dynamics suggests the company is executing well on its growth strategy. Investment factor at the 43th percentile indicates reinvestment patterns that investors should monitor for sustainability.
The margin cascade tells an important story: gross margins of 63% (+19.7pp vs sector) narrow to operating margins of 51% (+38.7pp vs sector) and net margins of 41.5%, yielding a gross-to-net conversion rate of 66%. This efficient conversion suggests well-controlled operating costs and limited margin leakage between the gross and net levels.
At a current price of $157.10, Wheaton Precious Metals Corp. is trading near fair value based on current fundamentals. Our value factor score of 68/100 reflects a composite assessment across multiple valuation metrics including price-to-earnings, price-to-book, EV/EBITDA, and price-to-sales ratios relative to both sector peers and the broader market. Valuation metrics are mixed, with no strong signal of mispricing in either direction.
The stock currently trades at EV/EBITDA of 18.9x (at a premium), P/B of 9.4x, P/S of 13.4x. We evaluate these multiples in the context of both absolute levels and sector-relative positioning to form our valuation view.
The stock's Buy rating (composite score 66.1/100) reflects broad-based quantitative strength, placing it in the top 20% of our 7,333-stock universe.
Gross margins of 63% signal strong pricing power and brand/IP advantages — businesses with margins above 40% have historically demonstrated more resilient earnings through economic cycles.
Returns on equity of 29.2% exceed the cost of equity for most companies, indicating genuine shareholder value creation and a reinvestment engine that compounds wealth over time.
Revenue growth of 26% confirms the business is expanding its addressable market — growth at this level typically supports multiple expansion and attracts institutional capital.
A value factor score of 68/100 suggests the market is underpricing these fundamentals, creating a potential margin of safety for new investors.
We assign a Low uncertainty rating to Wheaton Precious Metals Corp.. The company exhibits strong financial stability with a beta of 0.32, conservative leverage (0% D/E), and a stability factor in the 76th percentile. The predictable nature of the business model and solid financial position reduce the range of potential outcomes, giving us confidence in our fair value estimate.
Specific risk factors that inform our assessment include: low beta of 0.32 — while defensive, this may indicate limited upside participation in bull markets. Each of these factors independently widens the distribution of potential outcomes, and in combination they create a risk profile that demands careful position sizing. The stability factor at the 76th percentile and quality factor at the 78th percentile provide a quantitative summary of the overall risk landscape.
Key risk mitigants include: healthy gross margins of 63% provide a buffer against cost pressures; conservative leverage (0% D/E) limits balance sheet risk; above-average stability (76th percentile) suggests predictable business dynamics. These factors partially offset the identified risks and provide downside protection in adverse scenarios. On balance, the risk-reward profile is favorable for long-term investors.
We rate Wheaton Precious Metals Corp.'s capital allocation as Exemplary. Management demonstrates a strong track record of balancing reinvestment with shareholder returns, evidenced by returns on equity of 29.2%, disciplined leverage (0% D/E), best-in-class net margins of 41.5%. Exemplary allocators typically generate returns on equity above 20% while maintaining debt-to-equity below 50% — Wheaton Precious Metals Corp. meets this high bar.
The balance sheet remains conservatively managed, providing financial flexibility for opportunistic investments while maintaining a margin of safety for shareholders. The company returns capital via a 1.11% dividend yield, and the combination of 28.5% return on assets and controlled leverage suggests management is deploying capital at rates well above the cost of capital — the hallmark of exemplary stewardship.
In summary, Wheaton Precious Metals Corp. receives a Buy rating with a composite score of 66.1/100 (rank #236 of 7,333). Our quantitative framework assigns a Narrow Moat (58/100, trend: stable), Low uncertainty, and Exemplary capital allocation. The average factor score across quality, value, momentum, stability, and investment is 67/100.
Our analysis supports a constructive view on Wheaton Precious Metals Corp.. The combination of identifiable competitive advantages, low uncertainty, and exemplary capital allocation creates a risk-reward profile that favors accumulation at current levels. We recommend investors consider adding this name to portfolios aligned with the stock's risk profile.
Analysis derived from Blank Capital Research quantitative terminal. For informational purposes only. No trade solicitation. Past performance not indicative of future results. Consult a qualified advisor.
We assign Wheaton Precious Metals Corp. a Narrow Moat rating with a composite moat score of 58/100. The company possesses identifiable competitive advantages, though they are less entrenched than those of wide-moat peers. Our analysis indicates that Wheaton Precious Metals Corp. can sustain above-average returns on invested capital for at least 10 years, with the strongest contributor being margin superiority at 18.1/20.
The strongest moat sources are margin superiority (18.1/20) and economic value creation (14.9/20). GM 63% vs sector 43%, OM 51% vs sector 12%. ROE proxy 29.2% (sector 4.0%). These pillars form the core of Wheaton Precious Metals Corp.'s competitive identity and are the primary drivers of excess returns in our framework.
Areas of relative weakness include reinvestment efficiency (0/20) and financial resilience (10.8/20). Capital turnover N/A. Improvement in these areas could meaningfully widen the moat over time, while deterioration would be an early warning of competitive erosion.
Our moat trend assessment is Stable. Multi-year ROIC and operating margin trajectories show neither meaningful improvement nor deterioration, suggesting the competitive position is steady. We expect Wheaton Precious Metals Corp.'s moat profile to remain largely unchanged absent a material shift in return on capital or industry dynamics.
Key profit drivers include gross margins of 63% providing a solid profitability foundation, operating margins of 51% reflecting effective cost management, robust top-line growth of 26% expanding the revenue base. The margin cascade from 63% gross to 51% operating to 41.5% net reveals the company's cost structure and reinvestment intensity. Our analysis indicates that the profit engine is high-quality and likely sustainable, with the quality factor at the 78th percentile.
The margin profile shows gross margins of 63%, operating margins of 51%, net margins of 41.5%. Return metrics include ROE of 29.2% and ROA of 28.5%. Relative to the Mining sector, gross margins are 19.7 percentage points above the sector median of 43%, and ROE of 29.2% compares to a sector median of 4.0%.
The balance sheet reflects a conservatively managed balance sheet with D/E of 0%, a dividend yield of 1.11%, revenue growth of 26%. The sector median D/E is 0%, putting Wheaton Precious Metals Corp. in a relatively stronger balance sheet position. The combination of low leverage and healthy profitability provides significant financial resilience and strategic optionality.
Even high-quality stocks face risks from valuation compression, competitive disruption, or macro shocks that are difficult to quantify in advance.
Above 50MA
37.18%
Net New Highs
+51081
Wheaton Precious Metals announced it has acquired an additional silver stream on the Antamina Mine in Peru through a new partnership with BHP Group Limited. This acquisition will significantly increase Wheaton's attributable silver production from Antamina, making it a cornerstone asset for the company. The $4.3 billion upfront consideration will be funded through existing liquidity and new financing, further strengthening Wheaton's position as a major silver producer.
Wheaton Precious Metals has acquired a silver stream from the Antamina Mine in Peru through a new partnership with BHP. This agreement increases Wheaton's share of Antamina's silver production to a combined 67.5%, significantly expanding its precious metals portfolio. Company executives highlight the strategic importance of this acquisition, reinforcing Wheaton's position as a major silver producer and underscoring the growing relevance of the streaming model in unlocking value from mining assets.
Wheaton Precious Metals (WPM) has acquired a $4.3 billion silver stream on the Antamina mine in Peru. This acquisition is expected to boost the company's production growth by 50% by 2030, enhance its position as the largest precious metal streamer, and provide immediate cash flow.
Wheaton Precious Metals (NYSE: WPM) announced a $4.3 billion deal to acquire BHP's 33.75% share of future silver production from the Antamina mine in Peru, increasing Wheaton's total silver stream from the mine to 67.5%. This transaction is expected to be funded by cash on hand, a new $1.5 billion term loan, and a draw from its existing revolving credit facility, avoiding equity dilution. The company anticipates significant operating cash flow through 2028 to support debt repayment and future growth, framing the deal as a transformative, non-dilutive expansion of its silver portfolio.
Wheaton Precious Metals (NYSE:WPM) announced a leadership transition, with Haytham Hodaly becoming President and CEO effective March 31, 2026. Founder Randy Smallwood will step down as CEO and assume the role of non-executive Chair of the Board. Hodaly, who has been instrumental in executing over $11 billion in streaming transactions, will lead the company's next phase of growth.