CIBC Stock Recommendations and Price Targets

This is a list of recent ratings by CIBC.

Date	Company Name	Action	Current Price	Price Target	Rating	Impact on Share Price
7/16/2025	MFI Maple Leaf Foods	Boost Price Target	C$30.00	C$32.00 ➝ C$38.00		N/A
7/15/2025	WPM Wheaton Precious Metals	Reiterated Rating	$90.00		Outperform ➝ Outperform	Low
7/15/2025	TFPM Triple Flag Precious Metals	Reiterated Rating	$23.00		Outperform ➝ Outperform	Low
7/15/2025	TORXF Torex Gold Resources	Reiterated Rating	$31.00		Outperform ➝ Outperform	Low
7/15/2025	PAAS Pan American Silver	Reiterated Rating	$29.00		Outperform ➝ Outperform	Low
7/15/2025	ORLA Orla Mining	Reiterated Rating	$12.00		Outperform ➝ Outperform	N/A
7/15/2025	OR OR Royalties	Reiterated Rating	$28.00		Outperform ➝ Outperform	Low
7/15/2025	OCANF OceanaGold	Reiterated Rating	$14.00		Outperform ➝ Outperform	Low
7/15/2025	NGXXF NGEx Minerals	Reiterated Rating	$12.00		Outperform ➝ Outperform	N/A
7/15/2025	LUGDF Lundin Gold	Reiterated Rating	$48.00		Neutral ➝ Neutral	Low
7/15/2025	IAG Iamgold	Reiterated Rating	$7.00		Outperform ➝ Outperform	Low
7/15/2025	HBM HudBay Minerals	Reiterated Rating	$10.00		Outperform ➝ Outperform	Low
7/15/2025	FNV Franco-Nevada	Reiterated Rating	$156.00		Outperform ➝ Outperform	Low
7/15/2025	EQX Equinox Gold	Reiterated Rating	$6.00		Neutral ➝ Neutral	N/A
7/15/2025	EDVMF Endeavour Mining	Reiterated Rating	$30.00		Neutral ➝ Neutral	Low
7/15/2025	EGO Eldorado Gold	Reiterated Rating	$20.00		Outperform ➝ Outperform	Low
7/15/2025	CGAU Centerra Gold	Reiterated Rating	$7.00		Outperform ➝ Outperform	Medium
7/15/2025	CSCCF Capstone Copper	Reiterated Rating	$6.00		Outperform ➝ Outperform	Low
7/15/2025	AGI Alamos Gold	Reiterated Rating	$26.00		Outperform ➝ Outperform	Low
7/15/2025	AEM Agnico Eagle Mines	Reiterated Rating	$120.00		Outperform ➝ Outperform	Low
7/15/2025	FSM Fortuna Mining	Boost Price Target	$6.00	$7.00 ➝ $8.00	Underperformer ➝ Underperformer	Low
7/15/2025	EXK Endeavour Silver	Reiterated Rating	$6.00	$7.25 ➝ $10.00	Neutral ➝ Neutral	Low
7/15/2025	EGO Eldorado Gold	Boost Price Target	$20.00	$23.00 ➝ $32.00	Outperformer ➝ Outperformer	Low
7/15/2025	CGAU Centerra Gold	Boost Price Target	$7.00	$12.00 ➝ $15.00	Outperformer ➝ Outperformer	Medium
7/15/2025	B Barrick Mining	Boost Price Target	$21.00	$24.00 ➝ $28.00	Neutral ➝ Neutral	Low
7/15/2025	BTG B2Gold	Reiterated Rating	$3.00	$3.60 ➝ $4.00	Neutral ➝ Neutral	Low
7/15/2025	AEM Agnico Eagle Mines	Boost Price Target	$120.00	$134.00 ➝ $165.00	Outperformer ➝ Outperformer	Low
7/15/2025	PAAS Pan American Silver	Set Price Target	$29.00	$39.00 ➝ $46.00	Outperformer ➝ Outperformer	Low
7/15/2025	ORLA Orla Mining	Boost Price Target	$12.00	$18.50 ➝ $23.00	Outperformer ➝ Outperformer	N/A
7/15/2025	NEM Newmont	Set Price Target	$58.00	$60.00 ➝ $74.00	Neutral ➝ Neutral	Medium
7/15/2025	NGD New Gold	Boost Price Target	$4.00	$5.50 ➝ $6.25	Outperformer ➝ Outperformer	Low
7/15/2025	KGC Kinross Gold	Boost Price Target	$16.00	$16.00 ➝ $21.00	Outperformer ➝ Outperformer	Low
7/15/2025	IAG Iamgold	Boost Price Target	$7.00	$9.20 ➝ $10.40	Outperformer ➝ Outperformer	Low
7/15/2025	HL Hecla Mining	Boost Price Target	$6.00	$7.50 ➝ $8.00	Neutral ➝ Neutral	Low
7/11/2025	DALXF Spartan Delta	Reiterated Rating	$3.00		Outperform ➝ Outperform	Low
7/11/2025	QBCRF Quebecor	Reiterated Rating	$29.00		Outperform ➝ Outperform	Low
7/11/2025	FRHLF Freehold Royalties	Reiterated Rating	$9.00		Neutral ➝ Neutral	Low
7/11/2025	CRLFF Cardinal Energy	Reiterated Rating	$5.00		Neutral ➝ Neutral	Low
7/11/2025	ATZAF Aritzia	Reiterated Rating	$53.00		Outperform ➝ Outperform	High
7/11/2025	ATZ Aritzia	Boost Price Target	C$73.00	C$79.00 ➝ C$87.00		N/A
7/11/2025	TOU Tourmaline Oil	Lower Price Target	C$62.00	C$77.50 ➝ C$75.00		N/A
7/10/2025	CPX Capital Power	Boost Price Target	C$59.00	C$66.00 ➝ C$72.00		N/A
7/10/2025	TA TransAlta	Boost Price Target	C$16.00	C$18.50 ➝ C$20.00		N/A
7/8/2025	MLLGF Mullen Group	Downgrade	$10.00		Outperform ➝ Neutral	Low
7/8/2025	WCN Waste Connections	Lower Price Target	$183.00	$215.00 ➝ $212.00	Outperformer ➝ Outperformer	Low
7/8/2025	TFII TFI International	Lower Price Target	$89.00	$118.00 ➝ $110.00	Outperformer ➝ Outperformer	Low
7/8/2025	SARO StandardAero	Lower Price Target	$30.00	$35.00 ➝ $34.00	Outperformer ➝ Outperformer	Medium
7/3/2025	RCI.B Rogers Communications	Lower Price Target	C$46.00	C$76.00 ➝ C$55.00	Outperform	N/A
7/3/2025	BCE BCE	Lower Price Target	C$33.00	C$52.00 ➝ C$33.00	Neutral	N/A
7/3/2025	BBD.B Bombardier, Inc. Class B	Boost Price Target	C$164.00	C$115.00 ➝ C$140.00	Outperform	N/A
6/27/2025	CAE CAE	Upgrade	C$40.00	C$38.00 ➝ C$44.00	Neutral ➝ Outperform	N/A
6/26/2025	WM Waste Management	Boost Price Target	$226.00	$244.00 ➝ $250.00	Neutral ➝ Neutral	Low
6/24/2025	TRMLF Tourmaline Oil	Reiterated Rating	$45.00		Outperform ➝ Outperform	Low
6/24/2025	NUVSF NuVista Energy	Reiterated Rating	$10.00		Outperform ➝ Outperform	Low
6/24/2025	KELTF Kelt Exploration	Reiterated Rating	$6.00		Outperform ➝ Outperform	Low
6/24/2025	AAVVF Advantage Energy	Reiterated Rating	$8.00		Neutral ➝ Neutral	Low
6/24/2025	BB BlackBerry	Reiterated Rating	$4.00		Outperform ➝ Outperform	Medium
6/23/2025	KEY Keyera	Boost Price Target	C$43.00	C$47.00 ➝ C$56.00	Outperform	N/A
6/20/2025	EMP.A Empire	Boost Price Target	C$56.00	C$55.00 ➝ C$59.00		N/A
6/19/2025	DIV Diversified Royalty	Boost Price Target	C$3.00	C$3.10 ➝ C$3.20	Neutral	N/A
6/16/2025	DPM Dundee Precious Metals	Boost Price Target	C$22.00	C$23.00 ➝ C$25.00		N/A
6/13/2025	EQX Equinox Gold	Reiterated Rating	$6.00		Neutral ➝ Neutral	N/A
6/13/2025	TIXT Telus Digital	Lower Price Target	$4.00	$4.50 ➝ $3.40	Neutral ➝ Neutral	High
6/12/2025	NNWWF North West	Reiterated Rating	$35.00		Outperform ➝ Outperform	Low
6/12/2025	STGYF Stingray Group	Reiterated Rating	$7.00		Outperform ➝ Outperform	N/A
6/12/2025	DLMAF Dollarama	Reiterated Rating	$138.00		Neutral ➝ Neutral	Low
6/12/2025	DOL Dollarama	Boost Price Target	C$190.00	C$174.00 ➝ C$204.00		N/A
6/12/2025	RAY.A Stingray Group	Boost Price Target	C$10.00	C$11.50 ➝ C$13.50		N/A
6/12/2025	DFY Definity Financial	Set Price Target	C$76.00	C$80.00	Neutral	N/A
6/11/2025	NXR.UN Nexus Industrial REIT	Downgrade	C$8.00	C$8.50 ➝ C$7.50	Outperform ➝ Neutral	N/A
6/11/2025	B Barrick Mining	Boost Price Target	$21.00	$22.00 ➝ $24.00	Neutral ➝ Neutral	Low
6/11/2025	GRT.UN Granite Real Estate Investment Trust	Boost Price Target	C$72.00	C$74.00 ➝ C$85.00		N/A
6/9/2025	ORCL Oracle	Reiterated Rating	$241.00		Buy ➝ Buy	Low
6/9/2025	TCLAF Transcontinental	Reiterated Rating	$15.00		Outperform ➝ Outperform	Low
6/9/2025	ENGH Enghouse Systems	Lower Price Target	C$23.00	C$30.00 ➝ C$25.50	Neutral	N/A
6/9/2025	PKI Parkland	Downgrade	C$38.00	C$44.00	Outperform ➝ Tender	N/A
6/9/2025	RBRK Rubrik	Boost Price Target	$87.00	$110.00 ➝ $125.00	Outperformer ➝ Outperformer	Low
6/5/2025	NA National Bank of Canada	Boost Price Target	C$142.00	C$125.00 ➝ C$127.00	Underperform	N/A
6/5/2025	RY Royal Bank of Canada	Boost Price Target	C$181.00	C$182.00 ➝ C$183.00	Outperform	N/A
6/5/2025	TD Toronto-Dominion Bank	Boost Price Target	C$101.00	C$96.00 ➝ C$99.00	Outperform	N/A
6/5/2025	BMO Bank of Montreal	Boost Price Target	C$156.00	C$150.00 ➝ C$156.00	Neutral	N/A
6/4/2025	AQN Algonquin Power & Utilities	Boost Price Target	$6.00	$5.75 ➝ $6.25	Neutral ➝ Neutral	Medium
6/3/2025	LB Laurentian Bank of Canada	Boost Price Target	C$31.00	C$28.00 ➝ C$33.00	Neutral	N/A
6/3/2025	TOY Spin Master	Set Price Target	C$25.00	C$28.00	Neutral	N/A
6/2/2025	SNMSF Spin Master	Initiated Coverage	$18.00		Outperform ➝ Neutral	Low
5/22/2025	SKE Skeena Resources	Reiterated Rating	$16.00		Outperform ➝ Outperform	High
5/22/2025	PROBF Probe Gold	Reiterated Rating	$2.00		Outperform ➝ Outperform	High
5/22/2025	TD Toronto-Dominion Bank	Lower Price Target	C$101.00	C$95.00 ➝ C$94.00		N/A
5/22/2025	STN Stantec	Boost Price Target	C$151.00	C$141.00 ➝ C$156.00		N/A
5/22/2025	NA National Bank of Canada	Boost Price Target	C$142.00	C$115.00 ➝ C$125.00		N/A
5/22/2025	MTL Mullen Group	Boost Price Target	C$14.00	C$15.00 ➝ C$16.50		N/A
5/22/2025	CHE.UN Chemtrade Logistics Income Fund	Boost Price Target	C$11.00	C$10.50 ➝ C$12.50	Neutral	N/A
5/22/2025	POW Power Co. of Canada	Downgrade	C$54.00	C$55.00	Outperform ➝ Neutral	N/A
5/22/2025	LB Laurentian Bank of Canada	Lower Price Target	C$31.00	C$31.00 ➝ C$29.00		N/A
5/22/2025	IIP.UN InterRent Real Estate Investment Trust	Boost Price Target	C$13.00	C$13.50 ➝ C$14.00		N/A
5/22/2025	EQB EQB	Lower Price Target	C$101.00	C$130.00 ➝ C$126.00		N/A
5/22/2025	CP Canadian Pacific Kansas City	Boost Price Target	C$111.00	C$119.00 ➝ C$124.00		N/A
5/22/2025	CNR Canadian National Railway	Boost Price Target	C$141.00	C$146.00 ➝ C$155.00		N/A
5/22/2025	BDT Bird Construction	Boost Price Target	C$30.00	C$31.00 ➝ C$31.50		N/A
5/22/2025	BMO Bank of Montreal	Boost Price Target	C$156.00	C$141.00 ➝ C$150.00		N/A