Movement Alert|Wheaton Precious Metals Falls 3.39% in Pre-Market Trading, Q2 Earnings Miss Weighs on Stock

Market Focus
Oct 07

On October 7, Wheaton Precious Metals fell 3.39% in pre-market trading, trading at $133.06/share, with Turnover of $58.63 million.

The decline follows the company's second-quarter earnings report, which showed adjusted earnings per share of $1.19, missing the analyst consensus estimate of $1.23. Revenue came in at $929.201 million, below the expected $947.731 million. Despite a year-over-year profit increase of 88.89%, the miss on both key metrics triggered selling pressure. Additionally, several investment banks had previously lowered their target prices, with Berenberg reducing its target from $160 to $157 and Bank of America cutting from $163 to $145 while maintaining a buy rating.

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