On August 28, Wheaton Precious Metals declined 3.21% in regular trading, trading at $152.635/share, with turnover of $177 million. The decline came as spot gold broke below the $4,600/oz level, compounded by rising long-end U.S. Treasury yields and intensifying expectations of further Fed rate hikes, putting broad pressure on the precious metals sector.
Within the Gold sector, industry peers declined broadly. Coeur Mining fell 5.49%, Agnico Eagle Mines fell 3.98%, Pan American Silver fell 3.84%, Barrick Mining fell 3.51%, and Newmont Mining fell 3.41%. The sector-wide selloff reflects a macro environment unfavorable to non-yielding assets as real rates rise.
Additionally, the company's previously reported Q2 results showed adjusted EPS of $1.19, missing the consensus estimate of $1.23 by 3.25%, while revenue of $929.2 million also fell short of the $947.7 million estimate. The fundamental softness may be amplifying capital outflow pressure amid the broader sector headwinds.
(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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