Wheaton Precious Metals to Report Q2 Earnings: What to Expect?

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WPM’s Earnings Surprise History

Wheaton Precious Metals’ earnings have outpaced the consensus estimate in the trailing four quarters, the average surprise being 14.1%.

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What the Zacks Model Unveils for Wheaton Precious Metals

Our model predicts an earnings beat for Wheaton Precious Metals this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. That is precisely the case here.

You can uncover the best stocks before they are reported with our Earnings ESP Filter.

Earnings ESP: Wheaton Precious Metals has an Earnings ESP of +3.20%.

Zacks Rank: WPM currently carries a Zacks Rank of 3.

Factors Likely to Have Shaped WPM’s Q2 Performance

Wheaton Precious Metals is likely to have delivered a strong performance in the first quarter of 2026, building on the robust momentum seen in the first quarter of the year.  

Wheaton Precious Metals projects an attributable production of 860,000-940,000 gold-equivalent ounces (GEOs) for 2026. The mid-point of the range indicates a 30% year-over-year increase in production. This outlook reflects higher attributable production from Antamina, the start-up of several development projects (Blackwater, Goose, Mineral Park and Platreef) and a stable forecast for Salobo production.

Our model projects WPM’s total attributable production of 201,920 GEOs for the second quarter of 2026, indicating a 6.2% year-over-year increase. The production figure includes attributable gold production of 98,995 ounces (a 6.6% year-over-year increase).

Our model projects a 0.6% year-over-year rise for the second quarter at Salobo, attributable to gold production of 69,815 ounces. Gold production at Sudbury is expected to be 0.2% higher year over year at 5,416 ounces. At Constancia, attributable gold production is projected to be 82.9% lower at 1,573 ounces due to decreased gold grades.

Our model projects WPM’s second-quarter gold sales volume of 97,181 ounces, indicating an 1.8% year-over-year dip. Gold realized prices are expected to be $4,534 per ounce, suggesting a 36.7% year-over-year rise. 

The company’s second-quarter 2026 total gold sales are projected at $441 million, implying a 34.2% year-over-year rise. Gold sales are expected to have contributed 52% to WPM’s total sales.

Our model projects 5.88 million ounces of total attributable silver production (up 5.1% year over year). A 18.9% rise at Penasquito is expected to offset the 29.4% decline in Constancia and a 15.3% year-over-year decrease at Antamina. 

Wheaton Precious Metals’ silver sales volume is expected to be 5.27 million ounces. Silver realized prices are expected to be $73.49 per ounce, suggesting 115.8% year-over-year growth. This is likely to lead to silver sales of $387 million, indicating a 133.7% year-over-year rise. Silver sales are expected to contribute 45.7% to the total sales.

Attributable production of palladium is projected at 2,548 ounces (up 4.6% year over year), while production for cobalt is expected at 799 thousand pounds (up 23.5%). Other metals’ production is projected at 5,099 GEOs for the second quarter.

Our model projects Wheaton Precious Metals to sell 162,858 GEOs in the second quarter, 10.9% lower than the prior-year quarter’s actual. Overall, the company’s second-quarter results are expected to reflect the gains of higher gold and silver prices.

Wheaton Precious Metals Stock’s Price Performance

WPM shares have gained 17.4% over the past year compared with the industry's 39% growth.

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Other Stocks to Consider

Here are some other stocks with the right combination of elements to also post an earnings beat in their upcoming releases.

Avient Corporation AVNT, scheduled to release second-quarter 2026 earnings on Aug. 6, has an Earnings ESP of +0.87% and a Zacks Rank of 2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.  

The Zacks Consensus Estimate for earnings for Avient for the second quarter of 2026 is 89 cents per share, indicating an 11.2% year-over-year increase. Avient has a trailing four-quarter average earnings surprise of 2.1%.

Materion MTRN, scheduled to release second-quarter 2026 earnings on Aug. 5, has an Earnings ESP of +5.39% and a Zacks Rank of 2 at present.

The Zacks Consensus Estimate for Materion’s earnings for the second quarter of 2026 is pegged at $1.55 per share, indicating 13% growth from the year-ago quarter's reported figure. Materion has a trailing four-quarter average earnings surprise of 4.96%. 

Albemarle Corporation ALB, scheduled to release second-quarter earnings on Aug. 5, currently has an Earnings ESP of +2.21% and a Zacks Rank #3. 

The Zacks Consensus Estimate for Albemarle’s earnings for the second quarter is pegged at $3.35, indicating a surge from earnings of 11 cents reported in the year-ago quarter. Albemarle has a trailing four-quarter average earnings surprise of 74%.

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