Wheaton Precious Metals Corp on Friday reported a higher profit for the third quarter that ended September 30 as it gained $104.4 million on the termination of its Keno Hill silver stream mine in Yukon, Canada.

Wheaton is a Vancouver-based investor in precious metal mining through royalty and streaming deals.

Third quarter pretax profit rose 54% to $208.5 million from $135.4 million a year ago. The main reason for the growth is the $141 million termination of its Canadian silver stream mine in Keno Hill, Yukon for which Wheaton said it received a gain on disposition of $104.4 million.

Meanwhile, revenue fell 19% to $218.8 million from $269.0 million.

Gold produced in the quarter fell 14% to 73,508 ounces from 85,624 ounces a year prior. Meanwhile, gold sales fell 8.4% to 62,000 ounces from 67,649 ounces. Gold equivalent production decreased 13% to 159,852 ounces from 183,012 ounces. Gold equivalent ounces sold in the quarter dropped 7.4% to 138,824 ounces from 149,862.

The company declared a quarterly dividend of 15 US cents per share, unchanged from a year ago.

For 2022, Wheaton lowered its attributable gold production guidance to between 300,000 and 320,000 ounces from its 350,000 to 380,000 ounces guidance posted in March. Under the new guidance, it would underperform against 2021 by at least 6.6%, when gold production was 342,546 ounces.

Regarding silver, it decreased its attributable production guidance to between 22.5 million and 24.0 million from previously 23.0 million to 25.0 million. The new guidance anticipates silver production to be at minimum 7.7% lower than the 26.0 million ounces of silver produced in 2021.

Wheaton Precious Metals Corp shares were flat at 2,738.57 pence each on Friday morning in London.

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