National Bank Financial Stock Recommendations and Price Targets

This is a list of recent ratings by National Bank Financial.

DateCompany NameActionCurrent
Price
Price
Target
RatingImpact on
Share Price
5/21/2025
FTT
Finning International
DowngradeC$50.00Strong-Buy ➝ HoldN/A
5/16/2025
LAC
Lithium Americas
Downgrade$3.00Strong-Buy ➝ HoldMedium
5/16/2025
LAC
Lithium Americas
DowngradeC$4.00Strong-Buy ➝ HoldN/A
5/15/2025
GRA
NanoXplore
DowngradeC$2.00Strong-Buy ➝ HoldN/A
5/12/2025
WCP
Whitecap Resources
UpgradeC$9.00Strong-BuyN/A
5/9/2025
DCBO
Docebo
Downgrade$26.00Outperform ➝ Sector PerformMedium
5/9/2025
TIXT
TELUS Digital
Upgrade$3.00Sector Perform ➝ OutperformHigh
5/7/2025
TOY
Spin Master
UpgradeC$24.00Hold ➝ Strong-BuyN/A
5/6/2025
ERO
Ero Copper
Upgrade$14.00Hold ➝ Strong-BuyLow
5/6/2025
CAE
CAE
UpgradeC$34.00Hold ➝ Strong-BuyN/A
5/6/2025
ERO
Ero Copper
UpgradeC$20.00Hold ➝ Strong-BuyN/A
5/6/2025
CAE
CAE
Upgrade$25.00Hold ➝ Strong-BuyLow
5/4/2025
MAI
Minera Alamos
UpgradeC$0.00Strong-BuyN/A
5/2/2025
TVK
TerraVest Industries
UpgradeC$162.00Hold ➝ Strong-BuyN/A
5/1/2025
DSV
Discovery Silver
UpgradeC$3.00Strong-BuyN/A
4/30/2025
MTAL
Metals Acquisition
Downgrade$10.00Strong-Buy ➝ HoldLow
4/29/2025
MUX
McEwen Mining
Upgrade$8.00Strong-BuyMedium
4/29/2025
MUX
McEwen Mining
UpgradeC$11.00Strong-BuyN/A
4/24/2025
TECK
Teck Resources
Upgrade$37.00Hold ➝ Strong-BuyLow
4/23/2025
TFPM
Triple Flag Precious Metals
Upgrade$22.00Strong-BuyLow
4/23/2025
PNG
Kraken Robotics
UpgradeC$2.00Strong-BuyN/A
4/10/2025
S
Sherritt International
UpgradeC$0.00HoldN/A
4/3/2025
BCE
BCE
Upgrade$22.00Hold ➝ Strong-BuyHigh
4/3/2025
BCE
BCE
UpgradeC$30.00Hold ➝ Strong-BuyN/A
4/3/2025
TFII
TFI International
Upgrade$87.00Hold ➝ Strong-BuyHigh
4/3/2025
SGD
Snowline Gold
UpgradeC$8.00Strong-BuyN/A
4/1/2025
EXROF
Exro Technologies
Downgrade$0.00Hold ➝ Strong SellHigh
3/27/2025
DOL
Dollarama
UpgradeC$172.00Hold ➝ Strong-BuyN/A
3/21/2025
AEM
Agnico Eagle Mines
Upgrade$118.00Strong-BuyLow
3/21/2025
AGI
Alamos Gold
Upgrade$26.00Strong-BuyMedium
3/21/2025
CDE
Coeur Mining
Upgrade$8.00Strong-BuyLow
3/21/2025
CGAU
Centerra Gold
Upgrade$7.00Strong-BuyHigh
3/21/2025
EGO
Eldorado Gold
Upgrade$20.00Strong-BuyHigh
3/21/2025
EQX
Equinox Gold
Upgrade$7.00Strong-BuyN/A
3/21/2025
FSM
Fortuna Silver Mines
Upgrade$6.00HoldLow
3/21/2025
B
Barrick Gold
Upgrade$19.00HoldMedium
3/21/2025
HL
Hecla Mining
Upgrade$5.00HoldMedium
3/21/2025
IAG
IAMGOLD
Upgrade$7.00Strong-BuyLow
3/21/2025
KGC
Kinross Gold
Upgrade$15.00Strong-BuyLow
3/21/2025
NEM
Newmont
Upgrade$54.00HoldLow
3/21/2025
NG
NovaGold Resources
Upgrade$4.00HoldN/A
3/21/2025
NGD
New Gold
Upgrade$4.00Strong-BuyHigh
3/21/2025
PPTA
Perpetua Resources
Upgrade$14.00Strong-BuyHigh
3/21/2025
SSRM
SSR Mining
Upgrade$12.00HoldMedium
3/21/2025
ABX
Barrick Gold
UpgradeC$26.00HoldN/A
3/21/2025
AEM
Agnico Eagle Mines
UpgradeC$161.00Strong-BuyN/A
3/21/2025
AGI
Alamos Gold
UpgradeC$36.00Strong-BuyN/A
3/21/2025
CG
Centerra Gold
UpgradeC$10.00Strong-BuyN/A
3/21/2025
EDV
Endeavour Mining
UpgradeC$42.00Strong-BuyN/A
3/21/2025
ELD
Eldorado Gold
UpgradeC$27.00Strong-BuyN/A
3/21/2025
EQX
Equinox Gold
UpgradeC$9.00Strong-BuyN/A
3/21/2025
FVI
Fortuna Silver Mines
UpgradeC$8.00HoldN/A
3/21/2025
IMG
IAMGOLD
UpgradeC$9.00Strong-BuyN/A
3/21/2025
K
Kinross Gold
UpgradeC$20.00Strong-BuyN/A
3/21/2025
NG
NovaGold Resources
UpgradeC$5.00HoldN/A
3/21/2025
NGD
New Gold
UpgradeC$6.00Strong-BuyN/A
3/21/2025
NGT
Newmont
UpgradeC$74.00HoldN/A
3/21/2025
OGC
OceanaGold
UpgradeC$6.00Strong-BuyN/A
3/21/2025
MAU
Montage Gold
UpgradeC$4.00Strong-BuyN/A
3/9/2025
ARE
Aecon Group
UpgradeC$19.00Hold ➝ Strong-BuyN/A
2/26/2025
FSZ
Fiera Capital
UpgradeC$6.00Strong Sell ➝ HoldN/A
2/25/2025
INGXF
Innergex Renewable Energy
Downgrade$10.00Strong-Buy ➝ HoldLow
2/25/2025
INE
Innergex Renewable Energy
DowngradeC$14.00Strong-Buy ➝ HoldN/A
2/21/2025
CVE
Cenovus Energy
Downgrade$14.00Outperform ➝ Sector PerformHigh
2/20/2025
CVE
Cenovus Energy
DowngradeC$19.00Strong-Buy ➝ HoldN/A
2/19/2025
GBNXF
Gibson Energy
Downgrade$16.00Strong-Buy ➝ HoldLow
2/19/2025
GEI
Gibson Energy
DowngradeC$23.00Strong-Buy ➝ HoldN/A
2/18/2025
PRMRF
Paramount Resources
Downgrade$14.00Strong-Buy ➝ HoldLow
2/18/2025
POU
Paramount Resources
DowngradeC$19.00Strong-Buy ➝ HoldN/A
2/17/2025
ANCTF
Alimentation Couche-Tard
Upgrade$50.00Hold ➝ Strong-BuyLow
2/12/2025
UEC
Uranium Energy
Initiated Coverage$6.00 $10.00OutperformN/A
2/12/2025
UROY
Uranium Royalty
Initiated Coverage$2.00Sector PerformMedium
2/11/2025
URC
Uranium Royalty
UpgradeC$3.00HoldN/A
2/11/2025
UEC
Uranium Energy
Upgrade$6.00Strong-BuyN/A
2/11/2025
ISO
IsoEnergy
UpgradeC$4.00Strong-BuyN/A
2/6/2025
TNZ
Tenaz Energy
UpgradeC$16.00Strong-BuyN/A
2/2/2025
ECN
ECN Capital
DowngradeC$3.00Strong-Buy ➝ HoldN/A
1/30/2025
LNF
Leon's Furniture
UpgradeC$27.00Strong-BuyN/A
1/30/2025
SDE
Spartan Delta
UpgradeC$3.00Strong-BuyN/A
1/22/2025
CAE
CAE
Downgrade$25.00Outperform ➝ Sector PerformLow
1/22/2025
BIREF
Birchcliff Energy
Upgrade$5.00Hold ➝ Strong-BuyLow
1/22/2025
BIR
Birchcliff Energy
UpgradeC$7.00Hold ➝ Strong-BuyN/A
1/21/2025
CAE
CAE
DowngradeC$34.00Strong-Buy ➝ HoldN/A
1/20/2025
AAV
Advantage Energy
UpgradeC$11.00Hold ➝ Strong-BuyN/A
1/20/2025
AAVVF
Advantage Energy
Upgrade$8.00Hold ➝ Strong-BuyLow
1/15/2025
LI
American Lithium
DowngradeC$0.00Strong-Buy ➝ HoldN/A
1/15/2025
SLF
Sun Life Financial
Upgrade$64.00Sector Perform ➝ OutperformHigh
1/14/2025
SLF
Sun Life Financial
UpgradeC$87.00Hold ➝ Strong-BuyN/A
1/8/2025
IAUX
i-80 Gold
Upgrade$1.00Hold ➝ Strong-BuyMedium
1/8/2025
IAU
i-80 Gold
UpgradeC$1.00Hold ➝ Strong-BuyN/A
1/7/2025
ATD
Alimentation Couche-Tard
UpgradeC$69.00Hold ➝ Strong-BuyN/A
12/23/2024
AMC
Arizona Metals
UpgradeC$1.00Strong-BuyN/A
12/19/2024
VZLA
Vizsla Silver
Initiated Coverage$3.00OutperformN/A
12/18/2024
NVA
NuVista Energy
DowngradeC$14.00Strong-Buy ➝ HoldN/A
12/15/2024
TIH
Toromont Industries
UpgradeC$117.00Hold ➝ Strong-BuyN/A
12/13/2024
TU
TELUS
Downgrade$16.00Outperform ➝ Sector PerformN/A
12/12/2024
T
TELUS
DowngradeC$22.00Strong-Buy ➝ HoldN/A
12/10/2024
TECK
Teck Resources
Downgrade$37.00Outperform ➝ Sector PerformN/A
12/10/2024
TGB
Taseko Mines
Upgrade$2.00Sector Perform ➝ OutperformN/A
12/9/2024
TKO
Taseko Mines
UpgradeC$3.00Hold ➝ Strong-BuyN/A