Wheaton Precious Metals benefits from rising silver prices
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 14 2026
0mins
Should l Buy WPM?
Source: Fool
Wheaton Precious Metals Corp's stock price increased by 3.05% and reached a 52-week high amid a broader market decline, with the Nasdaq-100 down 0.28% and the S&P 500 down 0.17%.
The core catalyst for this movement is the surge in silver prices, which rose by 13% in the first week of 2026, driven by strong market demand and geopolitical tensions. This increase in silver prices has significantly boosted the earnings outlook for Wheaton Precious Metals, as the company is expected to benefit from higher production and sales in 2026.
As investors seek safe-haven assets amid market volatility, Wheaton Precious Metals is well-positioned to capitalize on the rising silver prices, potentially leading to further stock appreciation.
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Analyst Views on WPM
Wall Street analysts forecast WPM stock price to fall
9 Analyst Rating
8 Buy
1 Hold
0 Sell
Strong Buy
Current: 141.550
Low
118.00
Averages
137.91
High
160.00
Current: 141.550
Low
118.00
Averages
137.91
High
160.00
About WPM
Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company. The Company, through strategic streaming agreements, partners with mining companies to secure a portion of their future precious metal production. The Company has approximately 35 streaming agreements. Its segments include Gold, Silver, Palladium, Platinum and Cobalt. Its gold segment includes Salobo, Sudbury, Constancia, San Dimas, Stillwater, Blackwater, Platreef and others. Its Silver segment includes Penasquito, Antamina, Constancia, Blackwater and others. Its Palladium segment includes Stillwater and Platreef. Its Platinum segment includes Marathon and Platreef. Its Cobalt segment includes Voisey's Bay. The Company has also entered into a definitive agreement to acquire the Spring Valley Project located in Nevada, United States of America.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Comparison of iShares Silver Trust and Sprott Gold Miners ETF
- Investment Strategy Differences: iShares Silver Trust (SLV) directly tracks physical silver prices, while Sprott Gold Miners ETF (SGDM) invests in a focused basket of gold mining stocks, both with an expense ratio of 0.50%.
- Performance Comparison: As of April 22, 2026, SLV's one-year return stands at 138.5%, significantly outperforming SGDM's 83.2%, indicating strong performance in silver that may attract high-return-seeking investors.
- Risk and Volatility: SLV's maximum drawdown over five years is -42.45%, compared to SGDM's -45.05%, with SGDM exhibiting a higher beta of 0.79, suggesting greater price volatility, which investors should consider based on their risk tolerance.
- Asset Composition Characteristics: SGDM holds 39 companies primarily focused on gold mining in the U.S. and Canada, with top positions comprising over a quarter of the fund, while SLV is entirely tied to silver prices, mitigating company-specific risks and appealing to investors seeking stability.
See More
Wheaton Precious Metals Stock Price Volatility Analysis
- Stock Performance: Wheaton Precious Metals has seen its stock rise over 75% in the past year, yet it also faced a significant 30% decline, reflecting the high volatility of the precious metals market and the complexity of investor sentiment.
- Business Model Insight: Wheaton provides upfront payments to miners in exchange for the right to purchase gold, silver, and other metals at discounted prices in the future, a model that not only helps miners avoid over-leveraging but also secures profit margins for Wheaton.
- Market Risks: Although gold and silver prices hit all-time highs in early 2026, the geopolitical tensions have led to price fluctuations that raise concerns among investors about a potential speculative bubble, particularly with silver's decline significantly impacting Wheaton.
- Investment Strategy Advice: While Wheaton remains an attractive option for gaining exposure to precious metals in a diversified portfolio, investors should exercise caution given the steep rise in precious metal prices over recent years and assess the potential market risks involved.
See More
Analysis of Wheaton Precious Metals Stock Volatility
- Significant Stock Volatility: Wheaton Precious Metals (NYSE: WPM) shares have risen over 75% in the past year but also faced a substantial 30% decline, indicating the market's sensitivity to fluctuations in precious metal prices, necessitating careful risk assessment by investors.
- Business Model Insight: Wheaton's model involves upfront payments to miners in exchange for the right to purchase gold, silver, and other metals at reduced prices in the future, which not only helps miners avoid over-leveraging but also secures profit margins for Wheaton, creating a win-win scenario.
- Market Environment Impact: Geopolitical and economic concerns have driven precious metal prices to all-time highs in early 2026, yet subsequent price volatility has raised bubble concerns, particularly with silver's decline significantly impacting Wheaton's performance.
- Cautious Investment Outlook: While Wheaton remains an attractive option for adding precious metals exposure to a diversified portfolio, the changing market conditions and historical expectations warrant extra caution from investors before making decisions.
See More
Spanish Mountain Gold Enters Royalty Agreement with Wheaton Precious Metals
- Royalty Agreement Signed: Spanish Mountain Gold (SPAUF) has entered into a royalty agreement with Wheaton Precious Metals (WPM), which will pay $55 million in three installments for a 1.5% net smelter return royalty, demonstrating confidence and support for the project.
- Project Advancement Plan: This financing agreement propels the feasibility study of the Spanish Mountain Gold project forward, aiming for completion within 18 months, thereby laying the groundwork for a build decision in 2028, indicating the company's positive outlook for future development.
- Positive Market Outlook: Wheaton's CEO Haytham Hodal stated that the project's scale and long-term potential align with their growth strategy in established mining jurisdictions, reflecting a strong focus on gold resources in the region.
- Enhanced Industry Influence: By partnering with Wheaton, Spanish Mountain Gold not only secures financial backing but also enhances its reputation in the mining sector, potentially attracting more investor interest in the project's future development.
See More
Wheaton Precious Metals Enters $300 Million Agreement with KGL Resources
- First Australian Deal: Wheaton Precious Metals has signed a $300 million precious metals purchase agreement with KGL Resources, marking its first streaming transaction in Australia, which expands the company's global portfolio and enhances its competitive position in the precious metals market.
- Funding Structure Assurance: Under the agreement, Wheaton will provide a $275 million upfront payment, including a $32 million early deposit to support immediate project development, with $243 million paid in four installments as construction milestones are met, ensuring project stability.
- Long-term Revenue Security: By funding the Jervois Copper Project, Wheaton secures long-term exposure to precious metal by-products from a site poised to become one of Australia’s next major copper producers, further solidifying the company's market position.
- Technical Team Collaboration: Wheaton's technical team closely collaborated with KGL to align funding with the project's upcoming production phases while committing to support KGL's financial structure through a future equity investment, strengthening the partnership between the two companies.
See More
Silver Price Soars to All-Time High as Nord Acquires Mining Leases
- Record Silver Prices: In January 2026, spot silver prices surged to an unprecedented $121.67 per ounce, marking the first time silver traded above $100, and recently rebounded to $80, reflecting a robust market demand and a structural supply deficit.
- Acquisition of Historic Mining Leases: Nord Precious Metals Mining Inc. has completed the acquisition of nearly 4 kilometers of historic boundary in Ontario's Gowganda Silver Camp, consolidating areas where over 50 million ounces of silver were previously produced, which is expected to significantly enhance future exploration and production potential.
- Infrastructure Advantage: Nord possesses the only permitted high-grade milling facility and a 600-tonne-per-day gravity plant, enabling a rapid conversion of exploration results into metal, which is anticipated to accelerate its competitive edge in silver mining development.
- Future Development Plans: Nord plans to drill across historical boundaries once new permits are obtained, leveraging existing production facilities and engineering partners to advance its silver production plan, which is expected to yield substantial economic benefits for the company.
See More
Comparison of iShares Silver Trust and Sprott Gold Miners ETF
- Investment Strategy Differences: iShares Silver Trust (SLV) directly tracks physical silver prices, while Sprott Gold Miners ETF (SGDM) invests in a focused basket of gold mining stocks, both with an expense ratio of 0.50%.
- Performance Comparison: As of April 22, 2026, SLV's one-year return stands at 138.5%, significantly outperforming SGDM's 83.2%, indicating strong performance in silver that may attract high-return-seeking investors.
- Risk and Volatility: SLV's maximum drawdown over five years is -42.45%, compared to SGDM's -45.05%, with SGDM exhibiting a higher beta of 0.79, suggesting greater price volatility, which investors should consider based on their risk tolerance.
- Asset Composition Characteristics: SGDM holds 39 companies primarily focused on gold mining in the U.S. and Canada, with top positions comprising over a quarter of the fund, while SLV is entirely tied to silver prices, mitigating company-specific risks and appealing to investors seeking stability.
See More
Wheaton Precious Metals Stock Price Volatility Analysis
- Stock Performance: Wheaton Precious Metals has seen its stock rise over 75% in the past year, yet it also faced a significant 30% decline, reflecting the high volatility of the precious metals market and the complexity of investor sentiment.
- Business Model Insight: Wheaton provides upfront payments to miners in exchange for the right to purchase gold, silver, and other metals at discounted prices in the future, a model that not only helps miners avoid over-leveraging but also secures profit margins for Wheaton.
- Market Risks: Although gold and silver prices hit all-time highs in early 2026, the geopolitical tensions have led to price fluctuations that raise concerns among investors about a potential speculative bubble, particularly with silver's decline significantly impacting Wheaton.
- Investment Strategy Advice: While Wheaton remains an attractive option for gaining exposure to precious metals in a diversified portfolio, investors should exercise caution given the steep rise in precious metal prices over recent years and assess the potential market risks involved.
See More
Analysis of Wheaton Precious Metals Stock Volatility
- Significant Stock Volatility: Wheaton Precious Metals (NYSE: WPM) shares have risen over 75% in the past year but also faced a substantial 30% decline, indicating the market's sensitivity to fluctuations in precious metal prices, necessitating careful risk assessment by investors.
- Business Model Insight: Wheaton's model involves upfront payments to miners in exchange for the right to purchase gold, silver, and other metals at reduced prices in the future, which not only helps miners avoid over-leveraging but also secures profit margins for Wheaton, creating a win-win scenario.
- Market Environment Impact: Geopolitical and economic concerns have driven precious metal prices to all-time highs in early 2026, yet subsequent price volatility has raised bubble concerns, particularly with silver's decline significantly impacting Wheaton's performance.
- Cautious Investment Outlook: While Wheaton remains an attractive option for adding precious metals exposure to a diversified portfolio, the changing market conditions and historical expectations warrant extra caution from investors before making decisions.
See More
Spanish Mountain Gold Enters Royalty Agreement with Wheaton Precious Metals
- Royalty Agreement Signed: Spanish Mountain Gold (SPAUF) has entered into a royalty agreement with Wheaton Precious Metals (WPM), which will pay $55 million in three installments for a 1.5% net smelter return royalty, demonstrating confidence and support for the project.
- Project Advancement Plan: This financing agreement propels the feasibility study of the Spanish Mountain Gold project forward, aiming for completion within 18 months, thereby laying the groundwork for a build decision in 2028, indicating the company's positive outlook for future development.
- Positive Market Outlook: Wheaton's CEO Haytham Hodal stated that the project's scale and long-term potential align with their growth strategy in established mining jurisdictions, reflecting a strong focus on gold resources in the region.
- Enhanced Industry Influence: By partnering with Wheaton, Spanish Mountain Gold not only secures financial backing but also enhances its reputation in the mining sector, potentially attracting more investor interest in the project's future development.
See More
Wheaton Precious Metals Enters $300 Million Agreement with KGL Resources
- First Australian Deal: Wheaton Precious Metals has signed a $300 million precious metals purchase agreement with KGL Resources, marking its first streaming transaction in Australia, which expands the company's global portfolio and enhances its competitive position in the precious metals market.
- Funding Structure Assurance: Under the agreement, Wheaton will provide a $275 million upfront payment, including a $32 million early deposit to support immediate project development, with $243 million paid in four installments as construction milestones are met, ensuring project stability.
- Long-term Revenue Security: By funding the Jervois Copper Project, Wheaton secures long-term exposure to precious metal by-products from a site poised to become one of Australia’s next major copper producers, further solidifying the company's market position.
- Technical Team Collaboration: Wheaton's technical team closely collaborated with KGL to align funding with the project's upcoming production phases while committing to support KGL's financial structure through a future equity investment, strengthening the partnership between the two companies.
See More
Silver Price Soars to All-Time High as Nord Acquires Mining Leases
- Record Silver Prices: In January 2026, spot silver prices surged to an unprecedented $121.67 per ounce, marking the first time silver traded above $100, and recently rebounded to $80, reflecting a robust market demand and a structural supply deficit.
- Acquisition of Historic Mining Leases: Nord Precious Metals Mining Inc. has completed the acquisition of nearly 4 kilometers of historic boundary in Ontario's Gowganda Silver Camp, consolidating areas where over 50 million ounces of silver were previously produced, which is expected to significantly enhance future exploration and production potential.
- Infrastructure Advantage: Nord possesses the only permitted high-grade milling facility and a 600-tonne-per-day gravity plant, enabling a rapid conversion of exploration results into metal, which is anticipated to accelerate its competitive edge in silver mining development.
- Future Development Plans: Nord plans to drill across historical boundaries once new permits are obtained, leveraging existing production facilities and engineering partners to advance its silver production plan, which is expected to yield substantial economic benefits for the company.
See More
