5 Best Canadian Stocks to Buy for Long Term

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

Wheaton Precious Metals Corp. (NYSE:WPM) is one of the best Canadian stocks to buy for long term. On April 2, Wheaton Precious Metals entered into a $300 million precious metals purchase agreement with KGL Resources, marking its first-ever streaming transaction in Australia. The deal focuses on silver and gold by-product streaming from the Jervois Copper Project in the Northern Territory.

Under the terms, Wheaton will provide a $275 million upfront payment, consisting of a $32 million early deposit to support immediate development and $243 million paid in four installments as construction milestones are met. The agreement also includes a $25 million cost overrun facility to ensure project stability. This move expands Wheaton’s global portfolio into a Tier-1 mining jurisdiction where all necessary permits for development are already secured.

By funding the Jervois project, Wheaton Precious Metals Corp. (NYSE:WPM) secures long-term exposure to precious metal by-products from a site positioned to be one of Australia’s next major copper producers. The stream is tied to the Jervois tenements, and Wheaton’s technical team collaborated closely with KGL to align the funding with the project’s upcoming production phases. Additionally, Wheaton committed to supporting KGL’s financial structure through a future equity investment.

Wheaton Precious Metals Corp. (NYSE:WPM) is a Canadian multinational precious metals streaming company across Europe, South America, North America, and Africa. It mainly produces and sells silver, gold, Platinum, palladium, and cobalt deposits. The company was incorporated in 2004 and is based in Vancouver, Canada.