Wheaton Precious Metals Surges on Strategic Momentum, Volume-Driven Rally Propels It to 496th in $0.21 Billion Trading Activity

On September 26, 2025, Wheaton Precious Metals (WPM) surged 1.57%, closing with a trading volume of $0.21 billion, ranking 496th in market activity. The stock's performance was driven by renewed focus on its strategic partnerships and operational updates, which reinforced investor confidence in its long-term growth potential. Analysts highlighted the company's ability to maintain production resilience amid fluctuating commodity prices, positioning it as a defensive play in the precious metals sector.

Recent developments underscored Wheaton's leverage to gold and silver price dynamics, with investors reacting positively to its recent earnings call. The firm emphasized its low-cost production model and exploration progress at key projects, which align with its goal of expanding reserves while managing capital efficiency. These factors contributed to a positive risk-rebalance among institutional portfolios, particularly in light of broader market volatility in energy and tech sectors.

To run this back-test robustly I need to clarify a couple of points and make sure we choose the right data universe: 1. Market universe • Do you want the test on U.S. listed equities only (NYSE + NASDAQ), or on another market/universe? 2. Rebalancing rule • “Hold for 1 day” – should we: a) Buy at today’s close and sell at tomorrow’s close (i.e., next-day close-to-close return), or b) Buy at tomorrow’s open and sell at tomorrow’s close? 3. Weighting of the 500 stocks • Equal-weighted (each of the 500 gets 0.2 % of the portfolio), or volume-weighted / market-cap-weighted? 4. Transaction costs • Should we include any slippage or commission assumptions? With these details confirmed I can build the data retrieval plan and run the back-test.