6 Most Profitable Gold Stocks To Buy Now

3. Wheaton Precious Metals Corp. (NYSE:WPM)

Number of Hedge Fund Investors: 23

5-Year Net Income CAGR: 108.56%

TTM Net Income: $609.4 Million

Wheaton Precious Metals Corp. (NYSE:WPM) is a leading precious metals streaming company, known for its robust portfolio of long-life, low-cost assets. The streaming model allows the company to purchase a percentage of the metals produced by a mine, for an upfront payment plus an additional payment when the metal is delivered.

Wheaton Precious Metals Corp. (NYSE:WPM) is focusing on growing its portfolio through strategic partnerships and accretive transactions. In Q3, the company announced the expansion to the existing stream on Rio2’s Phoenix project, with an additional investment of $100 million, and the new $625 million gold stream on Montage’s Kona project, located in Cote d’Ivoire, is one of the highest-quality gold projects on the continent, with a long 16-year mine life. On December 5, Wheaton Precious Metals Corp. (NYSE:WPM) also secured a $175 million streaming deal with Allied Gold for the Kurmuk project in Ethiopia. This agreement involves the company paying upfront cash in four equal installments during the construction phase. In return, Wheaton Precious Metals Corp. (NYSE:WPM) will receive 6.7% of the payable gold until a total of 220,000 ounces have been delivered. After this threshold, the company will buy 4.8% of the payable gold for the remainder of the project’s life. This deal will add 180,000 ounces of proven and probable mineral gold reserves, 30,000 ounces of measured and indicated mineral gold resources, and 20,000 ounces of inferred gold resources to the company’s portfolio.

The company is also investing in several development projects that are expected to produce gold in the coming years. These include Blackwater, Goose, PlatReef, and Mineral Park, all of which are expected to be operational within the next 12 months. The development of these projects is forecast to increase the company’s gold production at an industry-leading rate of approximately 40% to over 800,000 ounces by 2028. This growth trajectory is supported by the company’s strong balance sheet, with approximately $700 million in cash and a $2 billion revolving credit facility, which provides the financial flexibility to fund all outstanding commitments and pursue additional opportunities.