In addition to its increased revenue, profitability, and cash flow, the company issued a $0.15 quarterly cash dividend to be paid in June 2022.

Wheaton Precious Metals stock has been solid this year, a great start earning $305 million in revenue and $210 million in cash flow during the first quarter. This means that Wheaton could offer more stability for investors, while still taking advantage of the financial potential that cobalt offers. The company is particularly established in the silver market. Still, it also has streaming deals in other metals. Wheaton is banking on increased demand for cobalt in the future to make a profit. However, there is some risk involved in this deal. Afterward, Wheaton will continue to have access to 21.2% of the mine’s ongoing cobalt production. This deal goes up to 31 million pounds of cobalt. This deal will provide Wheaton with an excellent potential to extend its portfolio into one of Canada’s largest and fastest-growing mining jurisdictions with the Goose Project in the Back River Gold District in Nunavut. However, it recently entered into a deal with Sabina. Wheaton Precious Metals isn’t currently producing large amounts of cobalt. This is because this model diversifies Wheaton’s sources of income. This is a much more stable business model than investing with the miners directly. Then, Wheaton Precious Metals distributes cobalt to technology companies around the world. Instead, it forms agreements with established miners around the world to purchase it. It recently entered the cobalt market, but it also works with silver, gold, and palladium.Īs a streaming company, Wheaton doesn’t mine for precious metals. Wheaton Precious Metals is a metal streaming company. 6.3 Where Does Tesla Get Its Cobalt? Best Cobalt Stocks to Buy in 2022 Wheaton Precious Metals (NYSE: WPM)

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