Movement Alert|Wheaton Precious Metals Rises 3.25% in Pre-Market Trading, Gold Sector Rebounds After Fed Rate Hike Selloff

Market Focus09-17 20:20

On September 17, Wheaton Precious Metals rose 3.25% in pre-market trading, trading at $151.5/share, with turnover of $306,400. The rebound follows a 3.2% decline in the prior session, during which the broader gold sector sold off sharply after the Federal Reserve raised interest rates by 25 basis points.

The Fed decision, announced on September 16, pushed the policy rate higher and signaled the possibility of another hike before year-end. Fed Chair Wosh stated that inflation remains too elevated, with August core PCE estimated at approximately 3.2%, and noted that current financial conditions are far from restrictive. Gold and silver prices initially dropped on the announcement, weighing heavily on mining stocks across the board.

In pre-market trading on September 17, the Gold sector showed broad-based recovery. Among peers, Coeur Mining rose 3.7%, Agnico Eagle Mines gained 3.32%, Kinross climbed 2.84%, Barrick Mining advanced 2.82%, and Newmont Mining added 2.66%. On the fundamental side, Wheaton Precious Metals reported Q2 revenue of $929.2 million, up significantly year-over-year, though adjusted EPS of $1.19 fell short of the $1.23 consensus estimate.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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