The Globe and Mail reports in its Wednesday, May 24, edition that RBC Dominion Securities analyst Josh Wolfson has lowered his recommendation for Wheaton Precious Metals to "sector perform" from "outperform." The Globe's David Leeder writes that Mr. Wolfson trimmed his share target by $5 (U.S.) to $45 (U.S.). Analysts on average target the shares at $56.79 (U.S.). Mr. Wolfson says, "[Wheaton Precious Metals] now trades at the upper end of the royalty group valuation ranges, and we view the company's sector-leading short-term growth profile as appropriately priced into shares." Mr. Wolfson emphasized the significant impact of the approaching implementation of an Organisation for Economic Co-operation and Development (OECD) proposal of a global minimum tax rate. It is expected to be introduced by Jan. 1, 2014, at a rate of 15 per cent for companies which generate revenues more than 750-million euros. "We expect the introduction of this tax to have material consequences for offshore streaming, which generally benefits from 0-per-cent taxes. RBC forecasts have delayed incorporating these tax changes given timing and implementation questions, although in our view these uncertainties are now diminishing."