Cormark Stock Recommendations and Price Targets

This is a list of recent ratings by Cormark.

Date	Company Name	Action	Current Price	Price Target	Rating	Impact on Share Price
4/24/2025	MTL Mullen Group	Lower Price Target	C$13.00	C$18.50 ➝ C$17.00		N/A
4/24/2025	GSY goeasy	Lower Price Target	C$155.00	C$240.00 ➝ C$210.00		N/A
4/22/2025	BTG B2Gold	Upgrade	$3.00		Hold ➝ Moderate Buy	Medium
4/22/2025	BTO B2Gold	Upgrade	C$4.00		Hold ➝ Moderate Buy	N/A
4/22/2025	SSRM SSR Mining	Upgrade	$10.00		Hold ➝ Moderate Buy	Low
4/22/2025	LUG Lundin Gold	Downgrade	C$56.00		Moderate Buy ➝ Hold	N/A
4/21/2025	VNP 5N Plus	Upgrade	C$7.00		Moderate Buy	N/A
4/14/2025	TXG Torex Gold Resources	Boost Price Target	C$44.00	C$46.00 ➝ C$55.00		N/A
4/14/2025	LUG Lundin Gold	Upgrade	C$56.00	C$42.00 ➝ C$54.00	Market Perform ➝ Buy	N/A
4/3/2025	CF Canaccord Genuity Group	Upgrade	C$8.00		Hold ➝ Moderate Buy	N/A
4/1/2025	WPRT Westport Fuel Systems	Lower Price Target	$3.00	$11.50 ➝ $10.80		Low
3/31/2025	BTG B2Gold	Downgrade	$3.00		Moderate Buy ➝ Hold	Low
3/31/2025	BTO B2Gold	Downgrade	C$4.00		Moderate Buy ➝ Hold	N/A
3/27/2025	LSPD Lightspeed Commerce	Lower Price Target	C$14.00	C$24.00 ➝ C$21.00	Buy	N/A
3/27/2025	PBL Pollard Banknote	Lower Price Target	C$19.00	C$42.00 ➝ C$37.00		N/A
3/25/2025	MAU Montage Gold	Boost Price Target	C$4.00	C$3.00 ➝ C$4.50	Buy	N/A
3/20/2025	OLA Orla Mining	Boost Price Target	C$14.00	C$10.00 ➝ C$12.00		N/A
3/20/2025	BTR Bonterra Resources	Upgrade	C$0.00		Moderate Buy	N/A
3/20/2025	LGN Logan Energy	Upgrade	C$1.00		Moderate Buy	N/A
3/20/2025	BYD Boyd Group Services	Lower Price Target	C$200.00	C$240.00 ➝ C$200.00		N/A
3/19/2025	TCS Tecsys	Upgrade	C$42.00		Hold ➝ Moderate Buy	N/A
3/17/2025	CRLBF Cresco Labs	Upgrade	$1.00		Hold ➝ Moderate Buy	High
3/17/2025	ADEN ADENTRA	Lower Price Target	C$27.00	C$55.00 ➝ C$46.00		N/A
3/14/2025	FORA VerticalScope	Boost Price Target	C$5.00	C$14.00 ➝ C$19.00		N/A
3/13/2025	QTRHF Quarterhill	Upgrade	$1.00		Moderate Buy	Medium
3/13/2025	BIREF Birchcliff Energy	Upgrade	$4.00		Strong-Buy	Low
3/13/2025	BIR Birchcliff Energy	Upgrade	C$6.00		Strong-Buy	N/A
3/7/2025	IAUX i-80 Gold	Upgrade	$1.00		Hold ➝ Moderate Buy	Medium
3/7/2025	IAU i-80 Gold	Upgrade	C$1.00		Hold ➝ Moderate Buy	N/A
3/7/2025	NVA NuVista Energy	Upgrade	C$12.00		Strong-Buy	N/A
3/7/2025	SIS Savaria	Upgrade	C$17.00		Hold ➝ Moderate Buy	N/A
3/7/2025	TRMLF Tourmaline Oil	Upgrade	$45.00		Moderate Buy	Low
3/7/2025	TOU Tourmaline Oil	Upgrade	C$62.00		Hold ➝ Moderate Buy	N/A
3/6/2025	AAV Advantage Energy	Upgrade	C$10.00		Moderate Buy	N/A
3/6/2025	AAVVF Advantage Energy	Upgrade	$7.00		Moderate Buy	High
3/4/2025	T TELUS	Downgrade	C$21.00		Moderate Buy ➝ Hold	N/A
3/4/2025	CEI Coelacanth Energy	Upgrade	C$1.00		Moderate Buy	N/A
3/4/2025	TU TELUS	Downgrade	$15.00		Moderate Buy ➝ Hold	Low
2/28/2025	RY Royal Bank of Canada	Lower Price Target	C$166.00	C$194.00 ➝ C$189.00		N/A
2/27/2025	NA National Bank of Canada	Lower Price Target	C$120.00	C$139.00 ➝ C$137.00		N/A
2/26/2025	CGAU Centerra Gold	Downgrade	$7.00		Moderate Buy ➝ Hold	High
2/26/2025	CG Centerra Gold	Downgrade	C$9.00		Moderate Buy ➝ Hold	N/A
2/21/2025	BTG B2Gold	Upgrade	$3.00		Hold ➝ Moderate Buy	Medium
2/21/2025	BTO B2Gold	Upgrade	C$4.00	C$4.50 ➝ C$6.25	Market Perform ➝ Buy	N/A
2/21/2025	NTIOF National Bank of Canada	Downgrade	$87.00		Moderate Buy ➝ Hold	Low
2/21/2025	NA National Bank of Canada	Downgrade	C$120.00		Moderate Buy ➝ Hold	N/A
2/20/2025	LUG Lundin Gold	Downgrade	C$56.00		Moderate Buy ➝ Hold	N/A
2/20/2025	CDE Coeur Mining	Upgrade	$5.00		Moderate Buy	High
2/19/2025	EXE Extendicare	Upgrade	C$14.00		Moderate Buy	N/A
2/19/2025	CJT Cargojet	Lower Price Target	C$86.00	C$140.00 ➝ C$120.00		N/A
2/18/2025	FFH Fairfax Financial	Boost Price Target	C$2,135.00	C$2,125.00 ➝ C$2,250.00		N/A
2/18/2025	WRN Western Copper & Gold	Upgrade	$1.00		Moderate Buy	High
2/18/2025	WRN Western Copper and Gold	Upgrade	C$2.00		Moderate Buy	N/A
2/14/2025	DND Dye & Durham	Downgrade	C$9.00		Moderate Buy ➝ Hold	N/A
2/13/2025	SLF Sun Life Financial	Upgrade	$59.00		Hold ➝ Moderate Buy	Low
2/13/2025	SLF Sun Life Financial	Upgrade	C$82.00		Hold ➝ Moderate Buy	N/A
2/10/2025	VCM Vecima Networks	Downgrade	C$10.00	C$23.00 ➝ C$14.00	Buy ➝ Market Perform	N/A
2/10/2025	ELD Eldorado Gold	Lower Price Target	C$26.00	C$33.50 ➝ C$30.00		N/A
2/10/2025	TSU Trisura Group	Lower Price Target	C$38.00	C$54.00 ➝ C$47.00		N/A
2/7/2025	CF Canaccord Genuity Group	Downgrade	C$8.00		Moderate Buy ➝ Hold	N/A
2/3/2025	XTC Exco Technologies	Downgrade	C$6.00		Moderate Buy ➝ Hold	N/A
1/30/2025	PIF Polaris Renewable Energy	Boost Price Target	C$12.00	C$23.50 ➝ C$25.00		N/A
1/30/2025	NPI Northland Power	Lower Price Target	C$19.00	C$25.00 ➝ C$23.50		N/A
1/30/2025	INE Innergex Renewable Energy	Lower Price Target	C$14.00	C$10.00 ➝ C$9.50		N/A
1/30/2025	AYA Aya Gold & Silver	Lower Price Target	C$10.00	C$14.00 ➝ C$13.00		N/A
1/30/2025	REAL Real Matters	Lower Price Target	C$6.00	C$8.75 ➝ C$7.50		N/A
1/30/2025	BLX Boralex	Lower Price Target	C$31.00	C$47.00 ➝ C$35.00		N/A
1/30/2025	CLS Celestica	Boost Price Target	C$120.00	C$93.00 ➝ C$137.00		N/A
1/23/2025	USA Americas Silver	Upgrade	C$1.00		Moderate Buy	N/A
1/23/2025	USAS Americas Silver	Upgrade	$1.00		Moderate Buy	N/A
1/21/2025	DRT DIRTT Environmental Solutions	Upgrade	C$1.00		Moderate Buy	N/A
1/20/2025	LAAC Lithium Americas (Argentina)	Upgrade	$2.00		Moderate Buy	High
1/17/2025	LAC Lithium Americas	Upgrade	$3.00		Moderate Buy	High
1/17/2025	LAC Lithium Americas	Upgrade	C$4.00		Moderate Buy	N/A
1/15/2025	NTIOF National Bank of Canada	Upgrade	$87.00		Hold ➝ Moderate Buy	High
1/15/2025	NA National Bank of Canada	Upgrade	C$120.00		Hold ➝ Moderate Buy	N/A
1/10/2025	LUG Lundin Gold	Upgrade	C$56.00	C$35.00 ➝ C$38.00	Market Perform ➝ Buy	N/A
1/10/2025	EQX Equinox Gold	Boost Price Target	C$8.00	C$9.00 ➝ C$10.50		N/A
1/7/2025	CVV CanAlaska Uranium	Upgrade	C$1.00		Moderate Buy	N/A
1/6/2025	STEP STEP Energy Services	Upgrade	C$4.00	C$5.00 ➝ C$5.50	Tender ➝ Buy	N/A
12/18/2024	BDI Black Diamond Group	Upgrade	C$8.00		Moderate Buy	N/A
12/18/2024	AC Air Canada	Boost Price Target	C$14.00	C$26.75 ➝ C$29.50		N/A
12/18/2024	GLO Global Atomic	Downgrade	C$1.00		Hold ➝ Strong Sell	N/A
12/17/2024	BRM BioRem	Upgrade	C$2.00		Moderate Buy	N/A
12/11/2024	WED Westaim	Boost Price Target	C$31.00	C$6.00 ➝ C$7.75		N/A
12/11/2024	AD.UN Alaris Equity Partners Income Trust (AD.UN)	Boost Price Target	C$19.00	C$24.00 ➝ C$26.00		N/A
12/11/2024	MDA MDA Space	Boost Price Target	C$27.00	C$31.00 ➝ C$38.00		N/A
12/10/2024	MTL Mullen Group	Lower Price Target	C$13.00	C$20.75 ➝ C$19.75		N/A
12/6/2024	TD Toronto-Dominion Bank	Lower Price Target	C$88.00	C$99.00 ➝ C$94.00		N/A
12/6/2024	CM Canadian Imperial Bank of Commerce	Boost Price Target	C$86.00	C$99.00 ➝ C$104.00		N/A
12/5/2024	NA National Bank of Canada	Lower Price Target	C$120.00	C$145.00 ➝ C$142.00		N/A
12/5/2024	EQB EQB	Downgrade	C$95.00	C$131.00 ➝ C$110.00	Buy ➝ Market Perform	N/A
12/4/2024	LTH Lithium Ionic	Upgrade	C$1.00		Moderate Buy	N/A
11/21/2024	MFC Manulife Financial	Boost Price Target	C$42.00	C$47.00 ➝ C$48.00		N/A
11/20/2024	NXE NexGen Energy	Boost Price Target	C$7.00	C$13.00 ➝ C$13.50		N/A
11/20/2024	PBL Pollard Banknote	Boost Price Target	C$19.00	C$33.00 ➝ C$42.00		N/A
11/18/2024	BRE Bridgemarq Real Estate Services	Boost Price Target	C$14.00	C$17.00 ➝ C$18.00		N/A
11/18/2024	MDA MDA Space	Boost Price Target	C$27.00	C$30.00 ➝ C$31.00		N/A
11/15/2024	AYA Aya Gold & Silver	Downgrade	C$10.00	C$20.00 ➝ C$14.00	Speculative Buy ➝ Market Perform	N/A
11/15/2024	PRMRF Paramount Resources	Upgrade	$12.00		Hold ➝ Moderate Buy	N/A