Wheaton Precious Metals: BHP Deal Adds Even More Risk At Elevated Prices

IWA Research2.64K FollowersFollow5ShareSavePlay(14min)Comments(2)SummaryWheaton Precious Metals Corp. remains a Hold, trading slightly above intrinsic fair value despite strong fundamentals and a robust growth pipeline.WPM's 2025 performance saw sales nearly double and net earnings almost triple, with production guidance exceeded and a sustainable, recently increased dividend.The BHP Antamina deal is viewed as poorly timed and less favorable than past transactions, raising concerns about capital allocation amid market hype.Geographic concentration and macro volatility present ongoing risks, while valuation reflects generous growth assumptions but limited margin of safety at current prices. Inok/iStock via Getty Images Introduction Back when I first covered Wheaton Precious Metals Corp. (WPM), I highlighted their solid but relatively risky exposure to gold and silver, with a leading growth pipeline, strong financials, and a good track record, rating themThis article was written byIWA Research2.64K FollowersFollowI've been researching companies in-depth for over a decade, from commodities like oil, natural gas, gold and copper to tech like Google or Nokia and many emerging market stocks, which I believe could help me provide useful content for readers. After writing my own blog for about 3 years, I decided to switch to a value investing-focused YouTube channel, where I researched hundreds of different companies so far. I would say my favorite type of company to cover are metals and mining stocks, but I am comfortable with several other industries, such as consumer discretionary/staples, REITs and utilities.Analyst’s Disclosure: I/we have a beneficial long position in the shares of VALE either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.