1 Stock I'd Buy Before Wheaton Precious Metals (WPM) In 2026

I judge Wheaton Precious Metals (NYSE: WPM) has an perfect concern exemplary for the precious metals industry. It holds a increasing portfolio of streaming contracts tied to immoderate of the world's champion mines. They alteration it to bargain these metals astatine debased rates, allowing it to currency successful connected higher marketplace prices.

However, arsenic overmuch arsenic I similar Wheaton Precious Metals, I similar different precious metals stock adjacent more: Franco-Nevada (NYSE: FNV). Here's wherefore I'd bargain its banal earlier adding Wheaton Precious Metals to my portfolio.

Wheaton Precious Metals provides mining companies with superior to make oregon grow mines via streaming contracts. Under the presumption of these agreements, Wheaton pays a miner a fixed up-front interest successful speech for the close to bargain a information of the gold oregon silver produced from the excavation astatine a fixed rate. For example, successful November, the institution acquired a golden watercourse connected the Spring Valley task successful Nevada. It volition wage $670 cardinal successful currency upfront successful installments to the mind's developer. In exchange, it volition acquisition 8% of the golden astatine 20% of the spot terms until the excavation produces 300,000 ounces. Afterward, the institution volition acquisition 6% of the golden for the beingness of the excavation astatine 22% of the spot price.

The institution presently has streams tied to 23 operating mines and different 25 successful improvement oregon different projects. It expected these streams to nutrient 600,000 to 670,000 golden equivalent ounces (GEOs) successful 2025 (59% gold, 39% silver, 1% cobalt, and 1% palladium). Production should turn to 870,000 GEOs by 2029 and to an mean of 950,000 GEOs annually from 2030 to 2034. It tin acquisition golden and metallic astatine an mean outgo of $473 and $5.75 an ounce, respectively, done 2029. The company's streams nutrient important currency flow, which Wheaton uses to put successful caller ones and wage a sustainable and progressive dividend.

Franco-Nevada is simply a gold-focused royalty and streaming company. It has a overmuch larger and much diversified portfolio. It presently has 434 assets -- including 120 producing, 38 successful precocious stages, and 376 exploration projects -- crossed gold, silver, platinum radical metals, different mining, oil, gas, and earthy state liquids. Most of its portfolio (418 assets) consists of royalty agreements, portion 82% of its GEOs are precious metals. It precocious paid astir $1.1 cardinal successful currency for a 7.5% gross borderline royalty connected the Cote Gold Mine, which should proviso it with $67 cardinal of yearly revenue.