On July 17, Wheaton Precious Metals fell 5.02% in regular trading, trading at $103.08/share, with turnover of $122 million. The stock declined in tandem with a broad selloff across the precious metals sector.
The decline reflects sector-wide weakness in gold-related equities, compounded by a series of investment bank target price reductions over recent weeks. Bank of America cut its target from $163 to $145 on July 8, UBS lowered its target from $165 to $150 in late June, and RBC Capital trimmed its target significantly from $200 to $165 in early June — all maintaining buy ratings. The consecutive downgrades signal growing caution among institutional analysts regarding near-term precious metals price trajectories.
Within the Gold sector, peers also posted significant losses: Coeur Mining down 7.32%, Newmont Mining down 4.5%, Agnico Eagle Mines down 3.6%, Barrick Mining down 3.58%, and Kinross down 3.4%.
(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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