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Wheaton Precious MetalsWPM.TOBUYMar 02, 2015Stock price when the opinion was issued
As of Jun 19, 2026. Market Open.
He bought them a long time ago and sold with profit. They would be in the same class as Franco-Nevada. WPM is not going to finance anymore. The cashflow is what it is and there will be little upside since it is a royalty company. He would prefer Franco-Nevada. He would look elsewhere where you can get appreciation.
He likes the royalty model. So much of the silver demand is in the South Asian retail, so demand is based on those economies. Most of the supply comes as a byproduct from base metal mines, so supply is dependent on mining activity in unrelated metals. It is very difficult to discuss silver market fundamentals.