On September 1, Wheaton Precious Metals declined 3.66% in regular trading, trading around $144.45 per share, with turnover of approximately $16.13 million. The decline came amid broad weakness across the precious metals sector as spot gold broke below the key $4,600/oz level.

On the macro front, rising long-end U.S. Treasury yields and growing expectations for further Federal Reserve rate hikes have weighed heavily on precious metals. The gold mining sector saw widespread losses, with Coeur Mining down 3.68%, AngloGold Ashanti down 3.64%, Barrick Mining down 3.12%, Agnico Eagle Mines down 3.08%, and Newmont Mining down 2.71%.

Adding to the pressure, Wheaton Precious Metals reported Q2 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 earnings miss has compounded selling pressure on the stock, which has declined from approximately $152.92 on August 28 to current levels. Several investment banks, including BofA and UBS, have trimmed their price targets while maintaining Buy ratings.

(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.)