Movement Alert|Wheaton Precious Metals Rises 4.98% Overnight, Bullish Sentiment Builds Ahead of Earnings Release

Market Focus08-05 14:42

On August 5, Wheaton Precious Metals rose 4.98% overnight, trading at $121.16/share, with turnover of $124,700.

On the news front, the company is scheduled to report its latest quarterly earnings after market close on August 6. Market consensus points to revenue of $970 million, representing year-over-year growth of 122.97%, and adjusted EPS of $1.31, up 136.10% year-over-year. Analyst sentiment remains firmly bullish, with FactSet's mean target price at $170.23, implying approximately 40% upside from current levels.

The rally reflects pre-positioning ahead of what could be another strong beat. Last quarter, the company posted revenue of $901.5 million and adjusted EPS of $1.28, surpassing estimates of $868.4 million and $1.24 respectively, extending a streak of consecutive earnings surprises. Major institutions including UBS, BofA, Berenberg, and RBC Capital all maintain buy-equivalent ratings, with targets ranging from $145 to $165. The broader gold sector also traded higher, with Agnico Eagle Mines up 4.01%, Coeur Mining up 3.64%, and Newmont Mining up 3.45%.

(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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