Wheaton Precious Metals Offers Attractive Exposure to Precious Metals

Precious metals stocks have been hit hard in recent months as gold and silver prices plummeted by 24% and 49%, respectively. Despite the downturn, geopolitical tensions remain high, and experts predict that inflation could rise due to rising energy prices.

One company that stands out from its peers is Wheaton Precious Metals (WPM), a streaming company that helps finance miners in exchange for the right to buy future metal production at discounted prices. This business model shields Wheaton from rising costs and allows it to benefit from higher spot prices.

In its most recent quarter, Wheaton delivered record results with revenue surging 92% year over year and net earnings reaching a record $582 million, up 129% from last year. The company also declared a dividend of $0.195 per common share in May, up 18% from last year.