Impacts Of OECD's Global Minimum Tax: Analyst Downgrades Wheaton Precious Metals
Portfolio Pulse from Lekha Gupta
RBC Capital Markets analyst Josh Wolfson downgraded Wheaton Precious Metals Corp (NYSE:WPM) to Sector Perform from Outperform with a decreased price target of $45. Wolfson is bearish on the approaching introduction of OECD's global minimum tax, which he expects to materially impact offshore mine streaming by large Canadian companies.
May 23, 2023 | 7:02 pm
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Wheaton Precious Metals downgraded by RBC Capital Markets analyst due to the upcoming OECD global minimum tax, which is expected to impact offshore mine streaming.
The analyst downgraded Wheaton Precious Metals due to the upcoming introduction of the OECD global minimum tax, which is expected to materially impact offshore mine streaming by large Canadian companies. This will likely have a negative effect on WPM's stock price in the short term.
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