5 Best Canadian Gold Stocks to Buy Right Now

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

Number of Hedge Fund Holders: 39

Wheaton Precious Metals Corp. (NYSE:WPM) is one of the best Canadian gold stocks to buy right now. On May 7, Wheaton Precious Metals achieved record-breaking financial results in Q1 2026, reporting $901 million in revenue and $582 million in net earnings. This was driven by a 98% increase in average realized gold equivalent prices and outperformance at the Salobo and Peñasquito mines. Operating cash flow reached a record $766 million, a 112% increase year-over-year, allowing the company to declare a quarterly dividend of $0.195 per common share, an 18% rise compared to Q1 2025.

Operationally, the company delivered 212,000 gold equivalent ounces/GEOs, marking a 22% increase in production over the prior year. This was fueled by strong output from Peñasquito, Antamina, and Blackwater, alongside the restart of production at Aljustrel. Wheaton’s business model continued to show high leverage, with a cash operating margin of $4,279 per GEO. The company maintains a balance sheet with a $2.2 billion cash balance, 80% of its production coming from assets in the lowest half of the global cost curve.

The quarter was also defined by significant strategic expansion, highlighted by Wheaton Precious Metals Corp.’s (NYSE:WPM) largest-ever streaming transaction with BHP for silver production at the Antamina mine. The company also entered the Australian market through a new agreement with KGL Resources and secured a royalty agreement with Spanish Mountain Gold.

Wheaton Precious Metals Corp. (NYSE:WPM) operates as a seller of precious metals across Europe, South America, North America, and Africa. It mainly produces and sells silver, gold, Platinum, palladium, and cobalt deposits.