On September 1, Wheaton Precious Metals fell 3.82% in pre-market trading, trading at $146.50/share, with turnover of $225,800. The decline extends a multi-session selloff in the precious metals sector driven by a confluence of macro headwinds.

On the news front, spot gold recently broke below the $4,600/oz level, while rising long-end U.S. Treasury yields and warming expectations of further Federal Reserve rate hikes have continued to weigh heavily on the precious metals complex. The broader Gold sector saw widespread declines, with Coeur Mining down 4.14%, Kinross down 3.09%, Agnico Eagle Mines down 3.04%, Barrick Mining Corporation down 2.74%, and Newmont Mining down 2.67%.

Adding to the pressure, the company's most recent Q2 earnings report showed adjusted EPS of $1.19, missing the consensus estimate of $1.23, while revenue of $929.2 million also fell short of the $947.7 million expectation. Analysts currently forecast Q3 EPS at $1.12, with the next earnings release scheduled for November 5. Wheaton Precious Metals is a precious metals streaming company that generates revenue primarily from the sale of gold, silver, palladium, and cobalt acquired through long-term purchase agreements with global mining operations.

(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.)