Movement Alert|Wheaton Precious Metals Falls 3.05% in Regular Trading, Precious Metals Sector Pressured by Rising Treasury Yields and Fed Rate Hike Expectations

Market Focus08-26 22:14

On August 26, Wheaton Precious Metals fell 3.05% in regular trading, trading at $158.995/share, with turnover of $77.07 million.

On the news front, rising long-end US Treasury yields combined with warming Federal Reserve rate hike expectations have weighed broadly on the precious metals sector. Gold mining stocks declined across the board, with Newmont Mining down 2.09%, Agnico Eagle Mines down 2.28%, AngloGold Ashanti down 3.54%, Barrick Mining down 1.58%, and Coeur Mining down 1.16%.

Adding to selling pressure, the company's Q2 earnings reported earlier this month showed adjusted EPS of $1.19, missing the analyst consensus estimate of $1.23 by 3.25%. Revenue came in at $929.2 million, also falling short of the consensus estimate of $947.7 million. The combination of a hawkish macro backdrop and softer-than-expected fundamentals appears to have intensified capital outflows from the stock.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment