National Bank Financial Analyst Recommendations & Stock Picks

Name: Community Performance Rating
Item: National Bank Financial
Rating: 2.7
Author: MarketBeat

This page lists the most recent publicly-reported stock recommendations and ratings issued by analysts at National Bank Financial. These ratings and price targets were collected from public media reports and are believed to be accurate, but cannot be verified with 100% certainty. MarketBeat and its parent company are in no way affiliated with or endorsed by National Bank Financial.

Company	Current Price	Rating Date	Action	Brokerage	Analyst	Rating	Price Target	Impact on Price	Details
LSPD Lightspeed Commerce	$14.07 -4.9%	2/8/2024	Downgraded by	National Bank Financial	Analyst R. Tse	Outperform Market Weight -> Sector Perform Market Weight		Low	View details for National Bank Financial rating of Lightspeed Commerce (NYSE:LSPD) on 2/8/2024
FTT Finning International	C$37.49 +3.1%	2/7/2024	Upgraded by	National Bank Financial	Analyst M. Sytchev	Sector Perform Market Weight -> Outperform Market Weight		N/A	View details for National Bank Financial rating of Finning International (TSE:FTT) on 2/7/2024
DOL Dollarama	C$100.70 +0.5%	1/29/2024	Downgraded by	National Bank Financial	Analyst V. Shreedhar	Outperform Market Weight -> Sector Perform Market Weight		N/A	View details for National Bank Financial rating of Dollarama (TSE:DOL) on 1/29/2024
BIP Brookfield Infrastructure Partners	$31.15 +1.3%	1/30/2024	Downgraded by	National Bank Financial	Analyst P. Kenny	Outperform -> Sector Perform		Low	View details for National Bank Financial rating of Brookfield Infrastructure Partners (NYSE:BIP) on 1/30/2024
EFX Enerflex	C$6.96 -0.9%	1/24/2024	Upgraded by	National Bank Financial	Analyst D. Payne	Sector Perform Market Weight -> Outperform Market Weight		N/A	View details for National Bank Financial rating of Enerflex (TSE:EFX) on 1/24/2024
RCH Richelieu Hardware	C$43.84 -0.2%	1/18/2024	Downgraded by	National Bank Financial	Analyst Z. Evershed	Outperform Market Weight -> Sector Perform Market Weight		N/A	View details for National Bank Financial rating of Richelieu Hardware (TSE:RCH) on 1/18/2024
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ABX Barrick Gold	C$19.72 -1.2%	1/15/2024	Target Raised by	National Bank Financial	Analyst S. Nagle	Sector Perform	C$29.00	N/A	View details for National Bank Financial rating of Barrick Gold (TSE:ABX) on 1/15/2024
OGC OceanaGold	C$2.64 -2.2%	1/3/2024	Reiterated by	National Bank Financial	Analyst S. Nagle	Outperform Overweight		N/A	View details for National Bank Financial rating of OceanaGold (TSE:OGC) on 1/3/2024
NGT Newmont	C$44.11 -1.6%	1/3/2024	Reiterated by	National Bank Financial	Analyst S. Nagle	Outperform Overweight		N/A	View details for National Bank Financial rating of Newmont (TSE:NGT) on 1/3/2024
NGD New Gold	C$1.58 -6.0%	1/3/2024	Reiterated by	National Bank Financial	Analyst D. Demarco	Sector Perform Spec Overwgt		N/A	View details for National Bank Financial rating of New Gold (TSE:NGD) on 1/3/2024
NG NovaGold Resources	C$3.31 +4.4%	1/3/2024	Reiterated by	National Bank Financial	Analyst D. Demarco	Outperform Overweight		N/A	View details for National Bank Financial rating of NovaGold Resources (TSE:NG) on 1/3/2024
K Kinross Gold	C$6.95 -3.1%	1/3/2024	Reiterated by	National Bank Financial	Analyst S. Nagle	Outperform Overweight		N/A	View details for National Bank Financial rating of Kinross Gold (TSE:K) on 1/3/2024
IMG IAMGOLD	C$3.29 -0.3%	1/3/2024	Reiterated by	National Bank Financial	Analyst D. Demarco	Sector Perform Spec Overwgt		N/A	View details for National Bank Financial rating of IAMGOLD (TSE:IMG) on 1/3/2024
EQX Equinox Gold	C$5.82 -0.3%	1/3/2024	Reiterated by	National Bank Financial	Analyst D. Demarco	Sector Perform Spec Overwgt		N/A	View details for National Bank Financial rating of Equinox Gold (TSE:EQX) on 1/3/2024
ELD Eldorado Gold	C$16.02 -2.1%	1/3/2024	Reiterated by	National Bank Financial	Analyst S. Nagle	Outperform Spec Overweight		N/A	View details for National Bank Financial rating of Eldorado Gold (TSE:ELD) on 1/3/2024
CG Centerra Gold	C$6.80 -1.0%	1/3/2024	Reiterated by	National Bank Financial	Analyst S. Nagle	Outperform Spec Overweight		N/A	View details for National Bank Financial rating of Centerra Gold (TSE:CG) on 1/3/2024
AGI Alamos Gold	C$16.08 -1.3%	1/3/2024	Reiterated by	National Bank Financial	Analyst S. Nagle	Outperform Overweight		N/A	View details for National Bank Financial rating of Alamos Gold (TSE:AGI) on 1/3/2024
AEM Agnico Eagle Mines	C$62.71 -1.2%	1/3/2024	Reiterated by	National Bank Financial	Analyst S. Nagle	Outperform Overweight		N/A	View details for National Bank Financial rating of Agnico Eagle Mines (TSE:AEM) on 1/3/2024
ABX Barrick Gold	C$19.72 -1.2%	1/3/2024	Reiterated by	National Bank Financial	Analyst S. Nagle	Sector Perform Overweight		N/A	View details for National Bank Financial rating of Barrick Gold (TSE:ABX) on 1/3/2024
SSRM SSR Mining	$9.55 +1.5%	1/3/2024	Reiterated by	National Bank Financial	Analyst D. Demarco	Sector Perform Overweight		Low	View details for National Bank Financial rating of SSR Mining (NASDAQ:SSRM) on 1/3/2024
NGD New Gold	$1.19 -4.0%	1/3/2024	Reiterated by	National Bank Financial	Analyst D. Demarco	Sector Perform Spec Overwgt		N/A	View details for National Bank Financial rating of New Gold (NYSEAMERICAN:NGD) on 1/3/2024
NG NovaGold Resources	$2.45 +3.4%	1/3/2024	Reiterated by	National Bank Financial	Analyst D. Demarco	Outperform Overweight		N/A	View details for National Bank Financial rating of NovaGold Resources (NYSEAMERICAN:NG) on 1/3/2024
NEM Newmont	$32.79 -1.6%	1/3/2024	Reiterated by	National Bank Financial	Analyst S. Nagle	Outperform Overweight		Low	View details for National Bank Financial rating of Newmont (NYSE:NEM) on 1/3/2024
KGC Kinross Gold	$5.16 -3.0%	1/3/2024	Reiterated by	National Bank Financial	Analyst S. Nagle	Outperform Overweight		Low	View details for National Bank Financial rating of Kinross Gold (NYSE:KGC) on 1/3/2024
IAG IAMGOLD	$2.45 -0.4%	1/3/2024	Reiterated by	National Bank Financial	Analyst D. Demarco	Sector Perform Spec Overwgt		Low	View details for National Bank Financial rating of IAMGOLD (NYSE:IAG) on 1/3/2024
HL Hecla Mining	$3.57 +0.3%	1/3/2024	Reiterated by	National Bank Financial	Analyst D. Demarco	Outperform Market Weight		Low	View details for National Bank Financial rating of Hecla Mining (NYSE:HL) on 1/3/2024
GOLD Barrick Gold	$14.67 -1.0%	1/3/2024	Reiterated by	National Bank Financial	Analyst S. Nagle	Sector Perform Overweight		Low	View details for National Bank Financial rating of Barrick Gold (NYSE:GOLD) on 1/3/2024
EQX Equinox Gold	$4.31 -0.5%	1/3/2024	Reiterated by	National Bank Financial	Analyst D. Demarco	Sector Perform Spec Overwgt		N/A	View details for National Bank Financial rating of Equinox Gold (NYSEAMERICAN:EQX) on 1/3/2024
EGO Eldorado Gold	$11.89 -2.2%	1/3/2024	Reiterated by	National Bank Financial	Analyst S. Nagle	Outperform Spec Overweight		Low	View details for National Bank Financial rating of Eldorado Gold (NYSE:EGO) on 1/3/2024
CGAU Centerra Gold	$5.05 -0.8%	1/3/2024	Reiterated by	National Bank Financial	Analyst S. Nagle	Outperform Spec Overweight		Low	View details for National Bank Financial rating of Centerra Gold (NYSE:CGAU) on 1/3/2024
CDE Coeur Mining	$2.70 +0.7%	1/3/2024	Reiterated by	National Bank Financial	Analyst D. Demarco	Outperform Spec Market Weight		Low	View details for National Bank Financial rating of Coeur Mining (NYSE:CDE) on 1/3/2024
AGI Alamos Gold	$11.95 -1.2%	1/3/2024	Reiterated by	National Bank Financial	Analyst S. Nagle	Outperform Overweight		Low	View details for National Bank Financial rating of Alamos Gold (NYSE:AGI) on 1/3/2024
AEM Agnico Eagle Mines	$46.62 -1.2%	1/3/2024	Reiterated by	National Bank Financial	Analyst S. Nagle	Outperform Overweight		Low	View details for National Bank Financial rating of Agnico Eagle Mines (NYSE:AEM) on 1/3/2024
BDT Bird Construction	C$15.36 -1.5%	1/3/2024	Downgraded by	National Bank Financial	Analyst M. Sytchev	Outperform Market Weight -> Sector Perform Market Weight		N/A	View details for National Bank Financial rating of Bird Construction (TSE:BDT) on 1/3/2024
CM Canadian Imperial Bank of Commerce	$45.10 +1.0%	12/20/2023	Upgraded by	National Bank Financial	-	Sector Perform -> Outperform		Low	View details for National Bank Financial rating of Canadian Imperial Bank of Commerce (NYSE:CM) on 12/20/2023
BMO Bank of Montreal	$92.64 +0.8%	12/20/2023	Upgraded by	National Bank Financial	-	Sector Perform -> Outperform		Low	View details for National Bank Financial rating of Bank of Montreal (NYSE:BMO) on 12/20/2023
MTAL Metals Acquisition	$12.00 -5.0%	12/13/2023	Reiterated by	National Bank Financial	Analyst S. Nagle	Outperform Spec Market Weight		Low	View details for National Bank Financial rating of Metals Acquisition (NYSE:MTAL) on 12/13/2023
MTAL Metals Acquisition	$12.00 -5.0%	12/14/2023	Initiated by	National Bank Financial	-	Outperform	$14.00	Low	View details for National Bank Financial rating of Metals Acquisition (NYSE:MTAL) on 12/14/2023
EQB EQB	C$90.76 -1.2%	12/8/2023	Reiterated by	National Bank Financial	Analyst G. Dechaine	Outperform Market Weight		N/A	View details for National Bank Financial rating of EQB (TSE:EQB) on 12/8/2023
RUS Russel Metals	C$44.57 -1.0%	12/4/2023	Upgraded by	National Bank Financial	Analyst M. Sytchev	Sector Perform Market Weight -> Outperform Market Weight		N/A	View details for National Bank Financial rating of Russel Metals (TSE:RUS) on 12/4/2023

ARMN Aris Mining	$2.97 -3.3%	11/27/2023	Reiterated by	National Bank Financial	Analyst D. Demarco	Outperform Spec Overweight		Low	View details for National Bank Financial rating of Aris Mining (NYSE:ARMN) on 11/27/2023
PSI Pason Systems	C$14.47 +0.3%	11/20/2023	Downgraded by	National Bank Financial	Analyst D. Payne	Outperform Market Weight -> Sector Perform Market Weight		N/A	View details for National Bank Financial rating of Pason Systems (TSE:PSI) on 11/20/2023
CEU CES Energy Solutions	C$4.12 -0.7%	11/20/2023	Downgraded by	National Bank Financial	Analyst D. Payne	Outperform Market Weight -> Sector Perform Market Weight		N/A	View details for National Bank Financial rating of CES Energy Solutions (TSE:CEU) on 11/20/2023
PDS Precision Drilling	$63.92 0.0%	11/21/2023	Downgraded by	National Bank Financial	-	Outperform -> Sector Perform		Low	View details for National Bank Financial rating of Precision Drilling (NYSE:PDS) on 11/21/2023
AND Andlauer Healthcare Group	C$39.20 -1.6%	11/16/2023	Reiterated by	National Bank Financial	Analyst C. Doerksen	Sector Perform Market Weight		N/A	View details for National Bank Financial rating of Andlauer Healthcare Group (TSE:AND) on 11/16/2023
ECN ECN Capital	C$2.70 -0.7%	11/14/2023	Downgraded by	National Bank Financial	Analyst J. Gloyn	Outperform Market Weight -> Sector Perform Market Weight		N/A	View details for National Bank Financial rating of ECN Capital (TSE:ECN) on 11/14/2023
LAC Lithium Americas	$4.23 +2.7%	11/15/2023	Initiated by	National Bank Financial	-	Outperform		Low	View details for National Bank Financial rating of Lithium Americas (NYSE:LAC) on 11/15/2023
AIF Altus Group	C$45.98 -1.9%	11/9/2023	Downgraded by	National Bank Financial	Analyst R. Tse	Outperfrom Under Weight -> Sector Perform Under Weight		N/A	View details for National Bank Financial rating of Altus Group (TSE:AIF) on 11/9/2023
LEV Lion Electric	$1.79 +2.3%	11/7/2023	Downgraded by	National Bank Financial	Analyst R. Merer	Outperform Spec Market Weight -> Sec Perform Spec Market Wgt		Low	View details for National Bank Financial rating of Lion Electric (NYSE:LEV) on 11/7/2023
LUN Lundin Mining	C$11.02 +0.3%	11/2/2023	Upgraded by	National Bank Financial	Analyst S. Nagle	Sector Perform Market Weight -> Outperform Market Weight		N/A	View details for National Bank Financial rating of Lundin Mining (TSE:LUN) on 11/2/2023
FM First Quantum Minerals	C$12.06 -1.3%	10/30/2023	Downgraded by	National Bank Financial	Analyst S. Nagle	Outperform Spec Market Weight -> Sec Perform Spec Market Wgt		N/A	View details for National Bank Financial rating of First Quantum Minerals (TSE:FM) on 10/30/2023
CJREF Corus Entertainment	$0.68 -2.3%	10/30/2023	Upgraded by	National Bank Financial	-	Underperform -> Sector Perform		Low	View details for National Bank Financial rating of Corus Entertainment (OTCMKTS:CJREF) on 10/30/2023
TCN Tricon Residential	$11.03 +0.1%	10/25/2023	Reiterated by	National Bank Financial	Analyst J. Gloyn	Sector Perform Under Weight		Low	View details for National Bank Financial rating of Tricon Residential (NYSE:TCN) on 10/25/2023
TCN Tricon Residential	C$14.85 +0.2%	10/25/2023	Reiterated by	National Bank Financial	Analyst J. Gloyn	Sector Perform Under Weight		N/A	View details for National Bank Financial rating of Tricon Residential (TSE:TCN) on 10/25/2023
SVI StorageVault Canada	C$5.35 +2.9%	10/25/2023	Reiterated by	National Bank Financial	Analyst M. Kornack	Sector Perform Under Weight		N/A	View details for National Bank Financial rating of StorageVault Canada (TSE:SVI) on 10/25/2023
RSI Rogers Sugar	C$5.61 +0.7%	10/25/2023	Reiterated by	National Bank Financial	Analyst Z. Evershed	Sector Perform Overweight		N/A	View details for National Bank Financial rating of Rogers Sugar (TSE:RSI) on 10/25/2023
CEU CES Energy Solutions	C$4.12 -0.7%	10/25/2023	Reiterated by	National Bank Financial	Analyst D. Payne	Outperform Market Weight		N/A	View details for National Bank Financial rating of CES Energy Solutions (TSE:CEU) on 10/25/2023
BIP Brookfield Infrastructure Partners	$31.15 +1.3%	10/18/2023	Upgraded by	National Bank Financial	Analyst P. Kenny	Sector Perform Overweight -> Outperform Overweight	$33.00	Low	View details for National Bank Financial rating of Brookfield Infrastructure Partners (NYSE:BIP) on 10/18/2023
LB Laurentian Bank of Canada	C$26.49 +1.9%	10/16/2023	Downgraded by	National Bank Financial	Analyst G. Dechaine	Sector Perform Market Weight -> Underperform Market Weight		N/A	View details for National Bank Financial rating of Laurentian Bank of Canada (TSE:LB) on 10/16/2023
BOS AirBoss of America	C$5.06 -0.4%	10/11/2023	Downgraded by	National Bank Financial	Analyst A. Abdullah	Outperfrom Under Weight -> Sector Perform Under Weight		N/A	View details for National Bank Financial rating of AirBoss of America (TSE:BOS) on 10/11/2023
SU Suncor Energy	C$43.26 -0.3%	10/12/2023	Target Raised by	National Bank Financial	-		C$57.00 -> C$74.00	N/A	View details for National Bank Financial rating of Suncor Energy (TSE:SU) on 10/12/2023
IMO Imperial Oil	C$78.50 -1.0%	10/12/2023	Target Raised by	National Bank Financial	-		C$82.00 -> C$111.00	N/A	View details for National Bank Financial rating of Imperial Oil (TSE:IMO) on 10/12/2023
CVE Cenovus Energy	C$21.84 -0.5%	10/12/2023	Target Raised by	National Bank Financial	-		C$31.00 -> C$37.00	N/A	View details for National Bank Financial rating of Cenovus Energy (TSE:CVE) on 10/12/2023
CNQ Canadian Natural Resources	C$81.86 +0.4%	10/12/2023	Target Raised by	National Bank Financial	-		C$90.00 -> C$101.00	N/A	View details for National Bank Financial rating of Canadian Natural Resources (TSE:CNQ) on 10/12/2023
OVV Ovintiv	$41.56 -0.6%	10/12/2023	Target Raised by	National Bank Financial	-		$59.00 -> $69.00	Low	View details for National Bank Financial rating of Ovintiv (NYSE:OVV) on 10/12/2023
ERF Enerplus	$15.55 +0.3%	10/12/2023	Target Raised by	National Bank Financial	-		$23.00 -> $25.00	Low	View details for National Bank Financial rating of Enerplus (NYSE:ERF) on 10/12/2023
AY Atlantica Sustainable Infrastructure	$18.44 +0.2%	10/11/2023	Target Lowered by	National Bank Financial	Analyst R. Merer		$29.00 -> $25.00	Low	View details for National Bank Financial rating of Atlantica Sustainable Infrastructure (NASDAQ:AY) on 10/11/2023
SJ Stella-Jones	C$79.36 +4.0%	10/9/2023	Upgraded by	National Bank Financial	Analyst M. Sytchev	Sector Perform Market Weight -> Outperform Market Weight		N/A	View details for National Bank Financial rating of Stella-Jones (TSE:SJ) on 10/9/2023
STN Stantec	C$109.48 -0.1%	10/10/2023	Target Raised by	National Bank Financial	-		C$96.00 -> C$105.00	N/A	View details for National Bank Financial rating of Stantec (TSE:STN) on 10/10/2023
CNI Canadian National Railway	$128.57 +0.3%	10/4/2023	Target Lowered by	National Bank Financial	-		$171.00 -> $168.00	Low	View details for National Bank Financial rating of Canadian National Railway (NYSE:CNI) on 10/4/2023
CP Canadian Pacific Kansas City	C$114.81 -0.2%	10/4/2023	Target Lowered by	National Bank Financial	-		C$110.00 -> C$109.00	N/A	View details for National Bank Financial rating of Canadian Pacific Kansas City (TSE:CP) on 10/4/2023
ACDVF Air Canada	$13.52 -0.2%	10/4/2023	Target Lowered by	National Bank Financial	-		$35.00 -> $32.00	Low	View details for National Bank Financial rating of Air Canada (OTCMKTS:ACDVF) on 10/4/2023
HEOFF H2O Innovation	$3.12 -0.2%	10/4/2023	Downgraded by	National Bank Financial	-	Outperform		Low	View details for National Bank Financial rating of H2O Innovation (OTCMKTS:HEOFF) on 10/4/2023
THTX Theratechnologies	$1.63 +3.5%	9/27/2023	Target Lowered by	National Bank Financial	-		$7.00 -> $5.50	Low	View details for National Bank Financial rating of Theratechnologies (NASDAQ:THTX) on 9/27/2023
HEOFF H2O Innovation	$3.12 -0.2%	9/25/2023	Target Lowered by	National Bank Financial	-		$3.50 -> $3.25	Low	View details for National Bank Financial rating of H2O Innovation (OTCMKTS:HEOFF) on 9/25/2023
WPM Wheaton Precious Metals	$45.49 -0.9%	9/25/2023	Target Lowered by	National Bank Financial	-		$75.00 -> $72.50	Low	View details for National Bank Financial rating of Wheaton Precious Metals (NYSE:WPM) on 9/25/2023
TFPM Triple Flag Precious Metals	$12.49 -1.9%	9/25/2023	Target Lowered by	National Bank Financial	-		$24.00 -> $23.50	Low	View details for National Bank Financial rating of Triple Flag Precious Metals (NYSE:TFPM) on 9/25/2023
SAND Sandstorm Gold	$4.40 -0.2%	9/25/2023	Target Lowered by	National Bank Financial	-		$9.50 -> $9.00	Low	View details for National Bank Financial rating of Sandstorm Gold (NYSE:SAND) on 9/25/2023
FNV Franco-Nevada	C$146.47 +0.3%	9/25/2023	Target Lowered by	National Bank Financial	-		C$215.00 -> C$205.00	N/A	View details for National Bank Financial rating of Franco-Nevada (TSE:FNV) on 9/25/2023
GROY Gold Royalty	$1.32 -1.5%	9/25/2023	Target Lowered by	National Bank Financial	-		$2.85 -> $2.60	N/A	View details for National Bank Financial rating of Gold Royalty (NYSEAMERICAN:GROY) on 9/25/2023
LB Laurentian Bank of Canada	C$26.49 +1.9%	9/14/2023	Downgraded by	National Bank Financial	Analyst G. Dechaine	Outperform Market Weight -> Sector Perform Market Weight		N/A	View details for National Bank Financial rating of Laurentian Bank of Canada (TSE:LB) on 9/14/2023
CJREF Corus Entertainment	$0.68 -2.3%	9/13/2023	Downgraded by	National Bank Financial	-	Sector Perform -> Underperform		Low	View details for National Bank Financial rating of Corus Entertainment (OTCMKTS:CJREF) on 9/13/2023
ENB Enbridge	C$46.03 -0.4%	9/12/2023	Target Lowered by	National Bank Financial	-		C$55.00 -> C$53.00	N/A	View details for National Bank Financial rating of Enbridge (TSE:ENB) on 9/12/2023
ENB Enbridge	$34.23 -0.3%	9/11/2023	Initiated by	National Bank Financial	-	Sector Perform		Low	View details for National Bank Financial rating of Enbridge (NYSE:ENB) on 9/11/2023
EQX Equinox Gold	C$7.88 -0.9%	9/11/2023	Target Lowered by	National Bank Financial	-		C$8.75 -> C$8.50	N/A	View details for National Bank Financial rating of Equinox Gold (CVE:EQX) on 9/11/2023
TRI Thomson Reuters	C$213.34 +1.8%	9/8/2023	Target Lowered by	National Bank Financial	Analyst A. Shine		C$194.00 -> C$186.00	N/A	View details for National Bank Financial rating of Thomson Reuters (TSE:TRI) on 9/8/2023
BCE BCE	C$50.52 -1.1%	8/23/2023	Upgraded by	National Bank Financial	Analyst A. Shine	Sector Perform Overweight -> Outperform Overweight		N/A	View details for National Bank Financial rating of BCE (TSE:BCE) on 8/23/2023
BCE BCE	$37.53 -1.1%	8/23/2023	Upgraded by	National Bank Financial	Analyst A. Shine	Sector Perform Overweight -> Outperform Overweight		Low	View details for National Bank Financial rating of BCE (NYSE:BCE) on 8/23/2023
ATA ATS Automation Tooling Systems	C$43.69 +4.0%	8/16/2023	Reiterated by	National Bank Financial	Analyst M. Sytchev	Outperform Overweight		N/A	View details for National Bank Financial rating of ATS Automation Tooling Systems (TSE:ATA) on 8/16/2023
PAAS Pan American Silver	C$17.49 -0.9%	8/16/2023	Target Raised by	National Bank Financial	-		C$32.50 -> C$34.00	N/A	View details for National Bank Financial rating of Pan American Silver (TSE:PAAS) on 8/16/2023

PBH Premium Brands	C$91.70 -0.7%	8/14/2023	Downgraded by	National Bank Financial	Analyst V. Shreedhar	Outperform Overweight -> Sector Perform Overweight		N/A	View details for National Bank Financial rating of Premium Brands (TSE:PBH) on 8/14/2023
KEY Keyera	C$31.83 +0.7%	8/11/2023	Downgraded by	National Bank Financial	Analyst P. Kenny	Outperform Market Weight -> Sector Perform Market Weight		N/A	View details for National Bank Financial rating of Keyera (TSE:KEY) on 8/11/2023
IAG iA Financial	C$92.36 -0.2%	8/14/2023	Target Lowered by	National Bank Financial	-		C$4.75 -> C$4.50	N/A	View details for National Bank Financial rating of iA Financial (TSE:IAG) on 8/14/2023
ACDVF Air Canada	$13.52 -0.2%	8/14/2023	Target Raised by	National Bank Financial	-		$32.00 -> $35.00	Low	View details for National Bank Financial rating of Air Canada (OTCMKTS:ACDVF) on 8/14/2023
CWYUF SmartCentres Real Estate Investment Trust	$18.06 +0.4%	8/14/2023	Target Raised by	National Bank Financial	-		$25.50 -> $27.00	Low	View details for National Bank Financial rating of SmartCentres Real Estate Investment Trust (OTCMKTS:CWYUF) on 8/14/2023
BOWFF Boardwalk Real Estate Investment Trust	$53.80 +1.9%	8/14/2023	Target Raised by	National Bank Financial	-		$77.00 -> $79.00	Low	View details for National Bank Financial rating of Boardwalk Real Estate Investment Trust (OTCMKTS:BOWFF) on 8/14/2023
CTC Canadian Tire	C$258.33 -6.1%	8/10/2023	Downgraded by	National Bank Financial	Analyst V. Shreedhar	Outperform Market Weight -> Sector Perform Market Weight		N/A	View details for National Bank Financial rating of Canadian Tire (TSE:CTC) on 8/10/2023
TCN Tricon Residential	C$14.85 +0.2%	8/9/2023	Downgraded by	National Bank Financial	Analyst T. Woolley	Outperfrom Under Weight -> Sector Perform Under Weight		N/A	View details for National Bank Financial rating of Tricon Residential (TSE:TCN) on 8/9/2023
BYDGF Boyd Group Services	$221.72 +0.6%	8/11/2023	Downgraded by	National Bank Financial	-	Outperform -> Sector Perform		Low	View details for National Bank Financial rating of Boyd Group Services (OTCMKTS:BYDGF) on 8/11/2023
INGXF Innergex Renewable Energy	$6.13 +1.5%	8/10/2023	Target Lowered by	National Bank Financial	-		$19.00 -> $18.00	Low	View details for National Bank Financial rating of Innergex Renewable Energy (OTCMKTS:INGXF) on 8/10/2023
EFXT Enerflex	$5.17 -1.3%	8/10/2023	Target Raised by	National Bank Financial	-		$11.50 -> $14.00	Low	View details for National Bank Financial rating of Enerflex (NYSE:EFXT) on 8/10/2023
TCN Tricon Residential	$11.03 +0.1%	8/10/2023	Downgraded by	National Bank Financial	Analyst T. Woolley	Outperform -> Sector Perform		Low	View details for National Bank Financial rating of Tricon Residential (NYSE:TCN) on 8/10/2023
FRFHF Fairfax Financial	$939.87 +2.1%	8/8/2023	Target Raised by	National Bank Financial	-		$1,600.00 -> $1,700.00	Low	View details for National Bank Financial rating of Fairfax Financial (OTCMKTS:FRFHF) on 8/8/2023
ENB Enbridge	C$46.03 -0.4%	8/8/2023	Target Lowered by	National Bank Financial	-		C$56.00 -> C$55.00	N/A	View details for National Bank Financial rating of Enbridge (TSE:ENB) on 8/8/2023
LEV Lion Electric	C$2.41 +1.3%	8/3/2023	Downgraded by	National Bank Financial	Analyst R. Merer	Outperform Spec Market Weight -> Sec Perform Spec Market Wgt		N/A	View details for National Bank Financial rating of Lion Electric (TSE:LEV) on 8/3/2023
LUNMF Lundin Mining	$8.18 -0.5%	8/4/2023	Target Raised by	National Bank Financial	-		$11.00 -> $11.50	Low	View details for National Bank Financial rating of Lundin Mining (OTCMKTS:LUNMF) on 8/4/2023
GIL Gildan Activewear	C$46.06 +0.8%	8/4/2023	Target Lowered by	National Bank Financial	-		C$48.00 -> C$46.00	N/A	View details for National Bank Financial rating of Gildan Activewear (TSE:GIL) on 8/4/2023
BCE BCE	C$50.52 -1.1%	8/4/2023	Target Lowered by	National Bank Financial	-		C$62.00 -> C$60.00	N/A	View details for National Bank Financial rating of BCE (TSE:BCE) on 8/4/2023
CNQ Canadian Natural Resources	$60.82 +0.4%	8/4/2023	Downgraded by	National Bank Financial	-	Outperform -> Sector Perform		Low	View details for National Bank Financial rating of Canadian Natural Resources (NYSE:CNQ) on 8/4/2023
LEV Lion Electric	$1.79 +2.3%	8/4/2023	Downgraded by	National Bank Financial	Analyst R. Merer	Outperform -> Sector Perform	$2.75	Low	View details for National Bank Financial rating of Lion Electric (NYSE:LEV) on 8/4/2023
TRI Thomson Reuters	C$213.34 +1.8%	8/3/2023	Downgraded by	National Bank Financial	Analyst A. Shine	Outperfrom Under Weight -> Sector Perform Under Weight		N/A	View details for National Bank Financial rating of Thomson Reuters (TSE:TRI) on 8/3/2023
TRI Thomson Reuters	$158.63 +1.7%	8/3/2023	Downgraded by	National Bank Financial	Analyst A. Shine	Outperform -> Sector Perform		Low	View details for National Bank Financial rating of Thomson Reuters (NYSE:TRI) on 8/3/2023
PRMRF Paramount Resources	$19.59 +1.7%	8/3/2023	Upgraded by	National Bank Financial	-	Sector Perform -> Outperform		Low	View details for National Bank Financial rating of Paramount Resources (OTCMKTS:PRMRF) on 8/3/2023
FPLSF 5N Plus	$3.26 +7.6%	8/2/2023	Target Raised by	National Bank Financial	-		$4.25 -> $4.75	Low	View details for National Bank Financial rating of 5N Plus (OTCMKTS:FPLSF) on 8/2/2023
THTX Theratechnologies	$1.63 +3.5%	8/1/2023	Target Raised by	National Bank Financial	-		$1.75 -> $7.00	Low	View details for National Bank Financial rating of Theratechnologies (NASDAQ:THTX) on 8/1/2023
TFII TFI International	$142.30 +0.6%	8/1/2023	Downgraded by	National Bank Financial	Analyst C. Doerksen	Outperform -> Sector Perform		Low	View details for National Bank Financial rating of TFI International (NYSE:TFII) on 8/1/2023
TRP TC Energy	C$50.48 +0.1%	7/28/2023	Upgraded by	National Bank Financial	Analyst P. Kenny	Sector Perform Market Weight -> Outperform Market Weight		N/A	View details for National Bank Financial rating of TC Energy (TSE:TRP) on 7/28/2023
SVI StorageVault Canada	C$5.35 +2.9%	7/27/2023	Downgraded by	National Bank Financial	Analyst T. Woolley	Outperfrom Under Weight -> Sector Perform Under Weight		N/A	View details for National Bank Financial rating of StorageVault Canada (TSE:SVI) on 7/27/2023
TRP TC Energy	$37.53 +0.2%	7/28/2023	Upgraded by	National Bank Financial	Analyst P. Kenny	Sector Perform -> Outperform		Low	View details for National Bank Financial rating of TC Energy (NYSE:TRP) on 7/28/2023
TECK Teck Resources	$37.00 -2.5%	7/27/2023	Upgraded by	National Bank Financial	-	Sector Perform -> Outperform		Low	View details for National Bank Financial rating of Teck Resources (NYSE:TECK) on 7/27/2023
FQVLF First Quantum Minerals	$8.96 -1.7%	7/27/2023	Target Raised by	National Bank Financial	-		$37.00 -> $40.00	Low	View details for National Bank Financial rating of First Quantum Minerals (OTCMKTS:FQVLF) on 7/27/2023
CNI Canadian National Railway	$128.57 +0.3%	7/25/2023	Target Lowered by	National Bank Financial	-		$173.00 -> $171.00	Low	View details for National Bank Financial rating of Canadian National Railway (NYSE:CNI) on 7/25/2023
TRP TC Energy	C$50.48 +0.1%	7/25/2023	Target Lowered by	National Bank Financial	-		C$54.00 -> C$53.00	N/A	View details for National Bank Financial rating of TC Energy (TSE:TRP) on 7/25/2023
AY Atlantica Sustainable Infrastructure	$18.44 +0.2%	7/22/2023	Upgraded by	National Bank Financial	Analyst R. Merer	Sector Perform Overweight -> Outperform Overweight		Low	View details for National Bank Financial rating of Atlantica Sustainable Infrastructure (NASDAQ:AY) on 7/22/2023
NTIOF National Bank of Canada	$76.15 +0.6%	7/24/2023	Target Raised by	National Bank Financial	-		$102.00 -> $105.00	Low	View details for National Bank Financial rating of National Bank of Canada (OTCMKTS:NTIOF) on 7/24/2023
ODV Osisko Development	C$3.28 +0.3%	7/21/2023	Target Lowered by	National Bank Financial	-		C$10.25	N/A	View details for National Bank Financial rating of Osisko Development (CVE:ODV) on 7/21/2023
NG NovaGold Resources	$2.45 +3.4%	7/21/2023	Target Lowered by	National Bank Financial	-		$10.75 -> $9.50	N/A	View details for National Bank Financial rating of NovaGold Resources (NYSEAMERICAN:NG) on 7/21/2023
ITRG Integra Resources	$0.79 -1.9%	7/21/2023	Target Lowered by	National Bank Financial	-		$2.63 -> $2.00	N/A	View details for National Bank Financial rating of Integra Resources (NYSEAMERICAN:ITRG) on 7/21/2023
WPM Wheaton Precious Metals	$45.49 -0.9%	7/21/2023	Target Lowered by	National Bank Financial	-		$80.00 -> $75.00	Low	View details for National Bank Financial rating of Wheaton Precious Metals (NYSE:WPM) on 7/21/2023
TFPM Triple Flag Precious Metals	$12.49 -1.9%	7/21/2023	Target Lowered by	National Bank Financial	Analyst S. Nagle		$25.00 -> $24.00	Low	View details for National Bank Financial rating of Triple Flag Precious Metals (NYSE:TFPM) on 7/21/2023
SAND Sandstorm Gold	$4.40 -0.2%	7/21/2023	Target Raised by	National Bank Financial	-		$9.25 -> $9.50	Low	View details for National Bank Financial rating of Sandstorm Gold (NYSE:SAND) on 7/21/2023
PAAS Pan American Silver	C$17.49 -0.9%	7/21/2023	Target Lowered by	National Bank Financial	-		C$33.00 -> C$32.50	N/A	View details for National Bank Financial rating of Pan American Silver (TSE:PAAS) on 7/21/2023
FSM Fortuna Silver Mines	$2.90 -2.7%	7/21/2023	Target Lowered by	National Bank Financial	-		$7.25 -> $6.75	Low	View details for National Bank Financial rating of Fortuna Silver Mines (NYSE:FSM) on 7/21/2023
GOLD GoldMining	C$1.07 +0.9%	7/21/2023	Target Lowered by	National Bank Financial	-		C$31.00 -> C$29.00	N/A	View details for National Bank Financial rating of GoldMining (TSE:GOLD) on 7/21/2023
AEM Agnico Eagle Mines	C$62.71 -1.2%	7/21/2023	Target Lowered by	National Bank Financial	-		C$98.00 -> C$92.00	N/A	View details for National Bank Financial rating of Agnico Eagle Mines (TSE:AEM) on 7/21/2023
IIPZF InterRent Real Estate Investment Trust	$10.01 -0.4%	7/18/2023	Target Lowered by	National Bank Financial	-		$16.00 -> $14.75	Low	View details for National Bank Financial rating of InterRent Real Estate Investment Trust (OTCMKTS:IIPZF) on 7/18/2023
BOWFF Boardwalk Real Estate Investment Trust	$53.80 +1.9%	7/18/2023	Target Lowered by	National Bank Financial	-		$78.50 -> $77.00	Low	View details for National Bank Financial rating of Boardwalk Real Estate Investment Trust (OTCMKTS:BOWFF) on 7/18/2023
CWYUF SmartCentres Real Estate Investment Trust	$18.06 +0.4%	7/18/2023	Target Lowered by	National Bank Financial	-		$28.00 -> $25.50	Low	View details for National Bank Financial rating of SmartCentres Real Estate Investment Trust (OTCMKTS:CWYUF) on 7/18/2023
IMO Imperial Oil	C$78.50 -1.0%	7/17/2023	Target Lowered by	National Bank Financial	-		C$87.00 -> C$82.00	N/A	View details for National Bank Financial rating of Imperial Oil (TSE:IMO) on 7/17/2023
TIXT TELUS International (Cda)	$9.40 +2.5%	7/14/2023	Downgraded by	National Bank Financial	-	Outperform -> Sector Perform	$32.00 -> $17.00	Low	View details for National Bank Financial rating of TELUS International (Cda) (NYSE:TIXT) on 7/14/2023

LB Laurentian Bank of Canada	C$26.49 +1.9%	7/12/2023	Upgraded by	National Bank Financial	Analyst G. Dechaine	Sector Perform Market Weight -> Outperform Market Weight		N/A	View details for National Bank Financial rating of Laurentian Bank of Canada (TSE:LB) on 7/12/2023
CP Canadian Pacific Kansas City	C$114.81 -0.2%	7/11/2023	Target Raised by	National Bank Financial	-		C$107.00 -> C$110.00	N/A	View details for National Bank Financial rating of Canadian Pacific Kansas City (TSE:CP) on 7/11/2023
CNI Canadian National Railway	$128.57 +0.3%	7/11/2023	Target Lowered by	National Bank Financial	-		$178.00 -> $173.00	Low	View details for National Bank Financial rating of Canadian National Railway (NYSE:CNI) on 7/11/2023
RBA RB Global	$68.64 +1.0%	7/10/2023	Target Raised by	National Bank Financial	-		$61.00 -> $70.00	Low	View details for National Bank Financial rating of RB Global (NYSE:RBA) on 7/10/2023
CIGI Colliers International Group	$122.08 +1.0%	7/10/2023	Target Lowered by	National Bank Financial	-		$133.00 -> $131.00	Low	View details for National Bank Financial rating of Colliers International Group (NASDAQ:CIGI) on 7/10/2023
TRMLF Tourmaline Oil	$41.33 -1.6%	6/29/2023	Target Lowered by	National Bank Financial	-		$80.00 -> $75.00	Low	View details for National Bank Financial rating of Tourmaline Oil (OTCMKTS:TRMLF) on 6/29/2023
SU Suncor Energy	C$43.26 -0.3%	6/29/2023	Target Lowered by	National Bank Financial	-		C$60.00 -> C$57.00	N/A	View details for National Bank Financial rating of Suncor Energy (TSE:SU) on 6/29/2023
IMO Imperial Oil	C$78.50 -1.0%	6/29/2023	Target Lowered by	National Bank Financial	-		C$88.00 -> C$87.00	N/A	View details for National Bank Financial rating of Imperial Oil (TSE:IMO) on 6/29/2023
CVE Cenovus Energy	C$21.84 -0.5%	6/29/2023	Target Lowered by	National Bank Financial	-		C$38.00 -> C$33.00	N/A	View details for National Bank Financial rating of Cenovus Energy (TSE:CVE) on 6/29/2023
CNQ Canadian Natural Resources	C$81.86 +0.4%	6/29/2023	Target Lowered by	National Bank Financial	-		C$105.00 -> C$93.00	N/A	View details for National Bank Financial rating of Canadian Natural Resources (TSE:CNQ) on 6/29/2023
BIREF Birchcliff Energy	$3.90 -2.0%	6/29/2023	Target Lowered by	National Bank Financial	-		$10.00 -> $9.25	Low	View details for National Bank Financial rating of Birchcliff Energy (OTCMKTS:BIREF) on 6/29/2023
AAVVF Advantage Energy	$6.79 -0.4%	6/29/2023	Target Lowered by	National Bank Financial	-		$12.00 -> $11.00	Low	View details for National Bank Financial rating of Advantage Energy (OTCMKTS:AAVVF) on 6/29/2023
AAV Advantage Energy	C$9.12	6/29/2023	Target Lowered by	National Bank Financial	-		C$11.00	N/A	View details for National Bank Financial rating of Advantage Energy (TSE:AAV) on 6/29/2023
PRMRF Paramount Resources	$19.59 +1.7%	6/29/2023	Downgraded by	National Bank Financial	-	Outperform -> Sector Perform		Low	View details for National Bank Financial rating of Paramount Resources (OTCMKTS:PRMRF) on 6/29/2023
CDE Coeur Mining	$2.70 +0.7%	6/27/2023	Initiated by	National Bank Financial	-	Outperform	$4.25	Low	View details for National Bank Financial rating of Coeur Mining (NYSE:CDE) on 6/27/2023
HL Hecla Mining	$3.57 +0.3%	6/27/2023	Initiated by	National Bank Financial	-	Outperform	$7.50	Low	View details for National Bank Financial rating of Hecla Mining (NYSE:HL) on 6/27/2023
BCE BCE	C$50.52 -1.1%	6/26/2023	Target Lowered by	National Bank Financial	Analyst A. Shine		C$63.00 -> C$62.00	N/A	View details for National Bank Financial rating of BCE (TSE:BCE) on 6/26/2023
TFII TFI International	C$191.59 +0.6%	6/13/2023	Target Lowered by	National Bank Financial	-		C$173.00 -> C$165.00	N/A	View details for National Bank Financial rating of TFI International (TSE:TFII) on 6/13/2023
CJREF Corus Entertainment	$0.68 -2.3%	6/9/2023	Target Lowered by	National Bank Financial	-		$2.25 -> $2.00	Low	View details for National Bank Financial rating of Corus Entertainment (OTCMKTS:CJREF) on 6/9/2023
ELD Eldorado Gold	C$16.02 -2.1%	6/7/2023	Upgraded by	National Bank Financial	Analyst M. Parkin	Sector Perform Spec Overwgt -> Outperform Spec Overweight		N/A	View details for National Bank Financial rating of Eldorado Gold (TSE:ELD) on 6/7/2023
GROY Gold Royalty	$1.32 -1.5%	6/7/2023	Initiated by	National Bank Financial	-	Outperform	$2.85	N/A	View details for National Bank Financial rating of Gold Royalty (NYSEAMERICAN:GROY) on 6/7/2023
EGO Eldorado Gold	$11.89 -2.2%	6/7/2023	Upgraded by	National Bank Financial	Analyst M. Parkin	Sector Perform -> Outperform		Low	View details for National Bank Financial rating of Eldorado Gold (NYSE:EGO) on 6/7/2023
RY Royal Bank of Canada	C$131.01 +0.6%	5/26/2023	Target Lowered by	National Bank Financial	-		C$142.00 -> C$136.00	N/A	View details for National Bank Financial rating of Royal Bank of Canada (TSE:RY) on 5/26/2023
TD Toronto-Dominion Bank	C$79.88 +0.5%	5/26/2023	Target Lowered by	National Bank Financial	-		C$94.00 -> C$90.00	N/A	View details for National Bank Financial rating of Toronto-Dominion Bank (TSE:TD) on 5/26/2023
AY Atlantica Sustainable Infrastructure	$18.44 +0.2%	5/26/2023	Downgraded by	National Bank Financial	Analyst R. Merer	Outperform -> Sector Perform	$31.00	Low	View details for National Bank Financial rating of Atlantica Sustainable Infrastructure (NASDAQ:AY) on 5/26/2023
FSM Fortuna Silver Mines	$2.90 -2.7%	5/19/2023	Target Raised by	National Bank Financial	-		$7.00 -> $7.25	Low	View details for National Bank Financial rating of Fortuna Silver Mines (NYSE:FSM) on 5/19/2023
CGAU Centerra Gold	$5.05 -0.8%	5/18/2023	Target Lowered by	National Bank Financial	-		$13.00 -> $12.50	Low	View details for National Bank Financial rating of Centerra Gold (NYSE:CGAU) on 5/18/2023
TD Toronto-Dominion Bank	C$79.88 +0.5%	5/18/2023	Target Lowered by	National Bank Financial	-		C$98.00 -> C$94.00	N/A	View details for National Bank Financial rating of Toronto-Dominion Bank (TSE:TD) on 5/18/2023
RY Royal Bank of Canada	C$131.01 +0.6%	5/18/2023	Target Lowered by	National Bank Financial	-		C$145.00 -> C$142.00	N/A	View details for National Bank Financial rating of Royal Bank of Canada (TSE:RY) on 5/18/2023
RBA RB Global	$68.64 +1.0%	5/18/2023	Upgraded by	National Bank Financial	-	Sector Perform -> Outperform	$61.00	Low	View details for National Bank Financial rating of RB Global (NYSE:RBA) on 5/18/2023
PAAS Pan American Silver	C$17.49 -0.9%	5/17/2023	Target Raised by	National Bank Financial	-		C$32.00 -> C$33.00	N/A	View details for National Bank Financial rating of Pan American Silver (TSE:PAAS) on 5/17/2023
IAG iA Financial	C$92.36 -0.2%	5/17/2023	Target Lowered by	National Bank Financial	-		C$5.00 -> C$4.75	N/A	View details for National Bank Financial rating of iA Financial (TSE:IAG) on 5/17/2023
BTG B2Gold	$2.63 -1.1%	5/12/2023	Target Raised by	National Bank Financial	Analyst D. Demarco		$7.25 -> $7.75	N/A	View details for National Bank Financial rating of B2Gold (NYSEAMERICAN:BTG) on 5/12/2023
BYDGF Boyd Group Services	$221.72 +0.6%	5/11/2023	Target Raised by	National Bank Financial	-		$250.00 -> $270.00	Low	View details for National Bank Financial rating of Boyd Group Services (OTCMKTS:BYDGF) on 5/11/2023
ERO Ero Copper	C$20.96 -0.2%	5/10/2023	Target Raised by	National Bank Financial	-		C$25.50 -> C$26.50	N/A	View details for National Bank Financial rating of Ero Copper (TSE:ERO) on 5/10/2023
TRI Thomson Reuters	C$213.34 +1.8%	5/7/2023	Upgraded by	National Bank Financial	Analyst A. Shine	Sector Perform -> Outperform		N/A	View details for National Bank Financial rating of Thomson Reuters (TSE:TRI) on 5/7/2023
WPM Wheaton Precious Metals	$45.49 -0.9%	5/8/2023	Target Raised by	National Bank Financial	-		$80.00	N/A	View details for National Bank Financial rating of Wheaton Precious Metals (NYSE:WPM) on 5/8/2023
AETUF ARC Resources	$15.69 +2.6%	5/8/2023	Target Raised by	National Bank Financial	-		$18.50 -> $23.00	Low	View details for National Bank Financial rating of ARC Resources (OTCMKTS:AETUF) on 5/8/2023
ACDVF Air Canada	$13.52 -0.2%	5/8/2023	Target Raised by	National Bank Financial	-		$29.00 -> $32.00	Low	View details for National Bank Financial rating of Air Canada (OTCMKTS:ACDVF) on 5/8/2023
TRI Thomson Reuters	$158.63 +1.7%	5/8/2023	Upgraded by	National Bank Financial	Analyst A. Shine	Sector Perform -> Outperform		Low	View details for National Bank Financial rating of Thomson Reuters (NYSE:TRI) on 5/8/2023
AY Atlantica Sustainable Infrastructure	$18.44 +0.2%	5/8/2023	Upgraded by	National Bank Financial	-	Sector Perform -> Outperform	$31.00	Low	View details for National Bank Financial rating of Atlantica Sustainable Infrastructure (NASDAQ:AY) on 5/8/2023
NFI NFI Group	C$12.00 +0.2%	5/4/2023	Upgraded by	National Bank Financial	Analyst C. Doerksen	Sector Perform Market Weight -> Outperform Market Weight		N/A	View details for National Bank Financial rating of NFI Group (TSE:NFI) on 5/4/2023
SHOP Shopify	$90.72 +3.2%	5/5/2023	Target Raised by	National Bank Financial	-		$60.00 -> $80.00	Low	View details for National Bank Financial rating of Shopify (NYSE:SHOP) on 5/5/2023
TRI Thomson Reuters	C$213.34 +1.8%	5/3/2023	Target Raised by	National Bank Financial	Analyst A. Shine		C$170.00 -> C$184.00	N/A	View details for National Bank Financial rating of Thomson Reuters (TSE:TRI) on 5/3/2023
AEM Agnico Eagle Mines	C$62.71 -1.2%	5/3/2023	Target Raised by	National Bank Financial	-		C$95.00 -> C$98.00	N/A	View details for National Bank Financial rating of Agnico Eagle Mines (TSE:AEM) on 5/3/2023
FRFHF Fairfax Financial	$939.87 +2.1%	5/2/2023	Target Raised by	National Bank Financial	-		$1,300.00 -> $1,350.00	Low	View details for National Bank Financial rating of Fairfax Financial (OTCMKTS:FRFHF) on 5/2/2023
PAAS Pan American Silver	C$17.49 -0.9%	5/2/2023	Target Lowered by	National Bank Financial	-		C$34.50 -> C$32.00	N/A	View details for National Bank Financial rating of Pan American Silver (TSE:PAAS) on 5/2/2023
NEM Newmont	$32.79 -1.6%	5/2/2023	Target Raised by	National Bank Financial	-		$91.00 -> $94.00	Low	View details for National Bank Financial rating of Newmont (NYSE:NEM) on 5/2/2023
TOY Spin Master	C$34.85 -0.6%	4/27/2023	Upgraded by	National Bank Financial	Analyst A. Shine	Sector Perform Under Weight -> Outperfrom Under Weight		N/A	View details for National Bank Financial rating of Spin Master (TSE:TOY) on 4/27/2023
NOA North American Construction Group	C$31.73 +0.9%	4/28/2023	Target Raised by	National Bank Financial	-		C$33.00	N/A	View details for National Bank Financial rating of North American Construction Group (TSE:NOA) on 4/28/2023

NGD New Gold	C$1.58 -6.0%	4/28/2023	Target Lowered by	National Bank Financial	-		C$2.25 -> C$2.00	N/A	View details for National Bank Financial rating of New Gold (TSE:NGD) on 4/28/2023
SU Suncor Energy	$32.13 -0.3%	4/28/2023	Upgraded by	National Bank Financial	-	Sector Perform -> Outperform		Low	View details for National Bank Financial rating of Suncor Energy (NYSE:SU) on 4/28/2023
FM First Quantum Minerals	C$12.06 -1.3%	4/26/2023	Upgraded by	National Bank Financial	Analyst S. Nagle	Sector Perform Spec Overwgt -> Outperform Spec Market Weight		N/A	View details for National Bank Financial rating of First Quantum Minerals (TSE:FM) on 4/26/2023
TECK Teck Resources	$37.00 -2.5%	4/27/2023	Downgraded by	National Bank Financial	-	Outperform -> Sector Perform		Low	View details for National Bank Financial rating of Teck Resources (NYSE:TECK) on 4/27/2023
FQVLF First Quantum Minerals	$8.96 -1.7%	4/27/2023	Upgraded by	National Bank Financial	-	Sector Perform -> Outperform		Low	View details for National Bank Financial rating of First Quantum Minerals (OTCMKTS:FQVLF) on 4/27/2023
PSI Pason Systems	C$14.47 +0.3%	4/24/2023	Upgraded by	National Bank Financial	Analyst D. Payne	Sector Perform Overweight -> Outperform Market Weight		N/A	View details for National Bank Financial rating of Pason Systems (TSE:PSI) on 4/24/2023
SLS SELLAS Life Sciences Group	$0.78 +0.2%	4/18/2023	Reiterated by	National Bank Financial	Analyst S. Nagle	Outperform-Speculative		N/A	View details for National Bank Financial rating of SELLAS Life Sciences Group (NASDAQ:SLS) on 4/18/2023
INGXF Innergex Renewable Energy	$6.13 +1.5%	4/19/2023	Target Raised by	National Bank Financial	-		$20.00 -> $21.00	Low	View details for National Bank Financial rating of Innergex Renewable Energy (OTCMKTS:INGXF) on 4/19/2023
BOWFF Boardwalk Real Estate Investment Trust	$53.80 +1.9%	4/18/2023	Target Raised by	National Bank Financial	-		$68.00 -> $74.00	Low	View details for National Bank Financial rating of Boardwalk Real Estate Investment Trust (OTCMKTS:BOWFF) on 4/18/2023
OBNNF Osisko Mining	$1.85 -2.4%	4/18/2023	Target Raised by	National Bank Financial	-		$4.00 -> $6.00	Low	View details for National Bank Financial rating of Osisko Mining (OTCMKTS:OBNNF) on 4/18/2023
ODV Osisko Development	C$3.28 +0.3%	4/18/2023	Target Raised by	National Bank Financial	-		C$8.50 -> C$11.25	N/A	View details for National Bank Financial rating of Osisko Development (CVE:ODV) on 4/18/2023
NG NovaGold Resources	$2.45 +3.4%	4/18/2023	Target Lowered by	National Bank Financial	-		$11.00 -> $10.75	N/A	View details for National Bank Financial rating of NovaGold Resources (NYSEAMERICAN:NG) on 4/18/2023
MAG MAG Silver	C$11.91 +0.1%	4/18/2023	Target Lowered by	National Bank Financial	-		C$26.00 -> C$24.50	N/A	View details for National Bank Financial rating of MAG Silver (TSE:MAG) on 4/18/2023
WPM Wheaton Precious Metals	$45.49 -0.9%	4/18/2023	Target Raised by	National Bank Financial	-		$72.50	N/A	View details for National Bank Financial rating of Wheaton Precious Metals (NYSE:WPM) on 4/18/2023
TFPM Triple Flag Precious Metals	$12.49 -1.9%	4/18/2023	Target Raised by	National Bank Financial	Analyst S. Nagle		$22.00 -> $25.00	Low	View details for National Bank Financial rating of Triple Flag Precious Metals (NYSE:TFPM) on 4/18/2023
SAND Sandstorm Gold	$4.40 -0.2%	4/18/2023	Target Raised by	National Bank Financial	-		$8.00 -> $9.25	Low	View details for National Bank Financial rating of Sandstorm Gold (NYSE:SAND) on 4/18/2023
RGLD Royal Gold	$111.66 -0.4%	4/18/2023	Target Raised by	National Bank Financial	-		$155.00 -> $165.00	Low	View details for National Bank Financial rating of Royal Gold (NASDAQ:RGLD) on 4/18/2023
OR Osisko Gold Royalties	C$19.70 +0.1%	4/18/2023	Target Raised by	National Bank Financial	-		C$23.00 -> C$27.00	N/A	View details for National Bank Financial rating of Osisko Gold Royalties (TSE:OR) on 4/18/2023
FNV Franco-Nevada	C$146.47 +0.3%	4/18/2023	Target Raised by	National Bank Financial	-		C$200.00 -> C$210.00	N/A	View details for National Bank Financial rating of Franco-Nevada (TSE:FNV) on 4/18/2023
PAAS Pan American Silver	C$17.49 -0.9%	4/18/2023	Target Raised by	National Bank Financial	-		C$32.00 -> C$34.50	N/A	View details for National Bank Financial rating of Pan American Silver (TSE:PAAS) on 4/18/2023
FSM Fortuna Silver Mines	$2.90 -2.7%	4/18/2023	Target Raised by	National Bank Financial	-		$6.00 -> $7.00	Low	View details for National Bank Financial rating of Fortuna Silver Mines (NYSE:FSM) on 4/18/2023
SSRM SSR Mining	C$12.85 +1.5%	4/18/2023	Target Raised by	National Bank Financial	-		C$22.50 -> C$25.00	N/A	View details for National Bank Financial rating of SSR Mining (TSE:SSRM) on 4/18/2023
NGD New Gold	C$1.58 -6.0%	4/18/2023	Target Raised by	National Bank Financial	-		C$1.75 -> C$2.25	N/A	View details for National Bank Financial rating of New Gold (TSE:NGD) on 4/18/2023
IAG iA Financial	C$92.36 -0.2%	4/18/2023	Target Raised by	National Bank Financial	-		C$4.00 -> C$5.00	N/A	View details for National Bank Financial rating of iA Financial (TSE:IAG) on 4/18/2023
EQX Equinox Gold	C$7.88 -0.9%	4/18/2023	Target Raised by	National Bank Financial	-		C$7.25 -> C$9.00	N/A	View details for National Bank Financial rating of Equinox Gold (CVE:EQX) on 4/18/2023
EGO Eldorado Gold	$11.89 -2.2%	4/18/2023	Target Raised by	National Bank Financial	Analyst M. Parkin		$16.50 -> $17.50	Low	View details for National Bank Financial rating of Eldorado Gold (NYSE:EGO) on 4/18/2023
CGAU Centerra Gold	$5.05 -0.8%	4/18/2023	Target Raised by	National Bank Financial	-		$12.50 -> $13.00	Low	View details for National Bank Financial rating of Centerra Gold (NYSE:CGAU) on 4/18/2023
AGI Alamos Gold	C$16.08 -1.3%	4/18/2023	Target Raised by	National Bank Financial	-		C$18.25 -> C$21.50	N/A	View details for National Bank Financial rating of Alamos Gold (TSE:AGI) on 4/18/2023
NEM Newmont	$32.79 -1.6%	4/18/2023	Target Raised by	National Bank Financial	-		$86.00 -> $91.00	Low	View details for National Bank Financial rating of Newmont (NYSE:NEM) on 4/18/2023
GOLD Barrick Gold	$14.67 -1.0%	4/18/2023	Target Raised by	National Bank Financial	-		$28.00 -> $32.00	N/A	View details for National Bank Financial rating of Barrick Gold (NYSE:GOLD) on 4/18/2023
BTG B2Gold	$2.63 -1.1%	4/18/2023	Target Raised by	National Bank Financial	Analyst D. Demarco		$6.50 -> $7.25	N/A	View details for National Bank Financial rating of B2Gold (NYSEAMERICAN:BTG) on 4/18/2023
AEM Agnico Eagle Mines	C$62.71 -1.2%	4/18/2023	Target Raised by	National Bank Financial	-		C$76.00 -> C$95.00	N/A	View details for National Bank Financial rating of Agnico Eagle Mines (TSE:AEM) on 4/18/2023
VET Vermilion Energy	C$14.18 +1.0%	4/18/2023	Target Lowered by	National Bank Financial	-		C$29.00 -> C$26.00	N/A	View details for National Bank Financial rating of Vermilion Energy (TSE:VET) on 4/18/2023
TRMLF Tourmaline Oil	$41.33 -1.6%	4/18/2023	Target Lowered by	National Bank Financial	-		$90.00 -> $80.00	Low	View details for National Bank Financial rating of Tourmaline Oil (OTCMKTS:TRMLF) on 4/18/2023
PRMRF Paramount Resources	$19.59 +1.7%	4/18/2023	Target Raised by	National Bank Financial	-		$37.50 -> $40.00	Low	View details for National Bank Financial rating of Paramount Resources (OTCMKTS:PRMRF) on 4/18/2023
CPG Crescent Point Energy	C$8.53 -0.5%	4/18/2023	Target Raised by	National Bank Financial	-		C$16.00 -> C$18.00	N/A	View details for National Bank Financial rating of Crescent Point Energy (TSE:CPG) on 4/18/2023
BIREF Birchcliff Energy	$3.90 -2.0%	4/18/2023	Target Lowered by	National Bank Financial	-		$11.00 -> $10.00	Low	View details for National Bank Financial rating of Birchcliff Energy (OTCMKTS:BIREF) on 4/18/2023
AETUF ARC Resources	$15.69 +2.6%	4/18/2023	Target Lowered by	National Bank Financial	-		$20.00 -> $18.50	Low	View details for National Bank Financial rating of ARC Resources (OTCMKTS:AETUF) on 4/18/2023
AAVVF Advantage Energy	$6.79 -0.4%	4/18/2023	Target Lowered by	National Bank Financial	-		$15.00 -> $12.00	Low	View details for National Bank Financial rating of Advantage Energy (OTCMKTS:AAVVF) on 4/18/2023
SU Suncor Energy	C$43.26 -0.3%	4/18/2023	Target Raised by	National Bank Financial	-		C$57.00 -> C$60.00	N/A	View details for National Bank Financial rating of Suncor Energy (TSE:SU) on 4/18/2023
IMO Imperial Oil	C$78.50 -1.0%	4/18/2023	Target Raised by	National Bank Financial	-		C$85.00 -> C$88.00	N/A	View details for National Bank Financial rating of Imperial Oil (TSE:IMO) on 4/18/2023
CVE Cenovus Energy	C$21.84 -0.5%	4/18/2023	Target Lowered by	National Bank Financial	-		C$39.00 -> C$38.00	N/A	View details for National Bank Financial rating of Cenovus Energy (TSE:CVE) on 4/18/2023
CNQ Canadian Natural Resources	C$81.86 +0.4%	4/18/2023	Target Raised by	National Bank Financial	-		C$100.00 -> C$110.00	N/A	View details for National Bank Financial rating of Canadian Natural Resources (TSE:CNQ) on 4/18/2023
TECK Teck Resources	$37.00 -2.5%	4/18/2023	Target Raised by	National Bank Financial	-		$70.00 -> $72.50	Low	View details for National Bank Financial rating of Teck Resources (NYSE:TECK) on 4/18/2023
LUNMF Lundin Mining	$8.18 -0.5%	4/18/2023	Target Raised by	National Bank Financial	-		$8.75 -> $10.50	Low	View details for National Bank Financial rating of Lundin Mining (OTCMKTS:LUNMF) on 4/18/2023
HBM Hudbay Minerals	C$6.91 -1.1%	4/18/2023	Target Raised by	National Bank Financial	-		C$8.00 -> C$9.25	N/A	View details for National Bank Financial rating of Hudbay Minerals (TSE:HBM) on 4/18/2023
FQVLF First Quantum Minerals	$8.96 -1.7%	4/18/2023	Target Raised by	National Bank Financial	-		$36.00 -> $38.00	Low	View details for National Bank Financial rating of First Quantum Minerals (OTCMKTS:FQVLF) on 4/18/2023
ERO Ero Copper	C$20.96 -0.2%	4/18/2023	Target Raised by	National Bank Financial	-		C$24.50 -> C$25.50	N/A	View details for National Bank Financial rating of Ero Copper (TSE:ERO) on 4/18/2023
AAV Advantage Energy	C$9.12	4/18/2023	Target Lowered by	National Bank Financial	-		C$15.00 -> C$12.00	N/A	View details for National Bank Financial rating of Advantage Energy (TSE:AAV) on 4/18/2023
TFII TFI International	C$191.59 +0.6%	4/18/2023	Target Raised by	National Bank Financial	-		C$171.00 -> C$173.00	N/A	View details for National Bank Financial rating of TFI International (TSE:TFII) on 4/18/2023
CP Canadian Pacific Kansas City	C$114.81 -0.2%	4/17/2023	Target Raised by	National Bank Financial	-		C$106.00 -> C$107.00	N/A	View details for National Bank Financial rating of Canadian Pacific Kansas City (TSE:CP) on 4/17/2023
CNI Canadian National Railway	$128.57 +0.3%	4/17/2023	Target Raised by	National Bank Financial	-		$175.00 -> $178.00	Low	View details for National Bank Financial rating of Canadian National Railway (NYSE:CNI) on 4/17/2023
BOS AirBoss of America	C$5.06 -0.4%	4/13/2023	Reiterated by	National Bank Financial	Analyst A. Abdullah	Outperfrom Under Weight		N/A	View details for National Bank Financial rating of AirBoss of America (TSE:BOS) on 4/13/2023
CJREF Corus Entertainment	$0.68 -2.3%	4/14/2023	Target Lowered by	National Bank Financial	-		$2.50 -> $2.25	Low	View details for National Bank Financial rating of Corus Entertainment (OTCMKTS:CJREF) on 4/14/2023
THTX Theratechnologies	$1.63 +3.5%	4/13/2023	Target Lowered by	National Bank Financial	-		$13.00 -> $9.00	Low	View details for National Bank Financial rating of Theratechnologies (NASDAQ:THTX) on 4/13/2023
AY Atlantica Sustainable Infrastructure	$18.44 +0.2%	4/10/2023	Initiated by	National Bank Financial	-	Sector Perform	$31.00	Low	View details for National Bank Financial rating of Atlantica Sustainable Infrastructure (NASDAQ:AY) on 4/10/2023
EGO Eldorado Gold	$11.89 -2.2%	4/6/2023	Target Raised by	National Bank Financial	Analyst M. Parkin		$13.50 -> $16.50	Low	View details for National Bank Financial rating of Eldorado Gold (NYSE:EGO) on 4/6/2023
SES Secure Energy Services	C$10.51 +2.2%	4/4/2023	Upgraded by	National Bank Financial	Analyst P. Kenny	Sector Perform Overweight -> Outperform Market Weight		N/A	View details for National Bank Financial rating of Secure Energy Services (TSE:SES) on 4/4/2023
CEU CES Energy Solutions	C$4.12 -0.7%	3/30/2023	Reiterated by	National Bank Financial	Analyst E. Leno	Outperform Market Weight		N/A	View details for National Bank Financial rating of CES Energy Solutions (TSE:CEU) on 3/30/2023
EQX Equinox Gold	C$7.88 -0.9%	3/30/2023	Target Raised by	National Bank Financial	-		C$6.00 -> C$7.25	N/A	View details for National Bank Financial rating of Equinox Gold (CVE:EQX) on 3/30/2023

MarketBeat Community Rating for National Bank Financial

Community Ranking:		2.7 out of 5 ( 2.7 of 5 stars)
Outperform Votes:		22,983 (Vote Outperform)
Underperform Votes:		19,676 (Vote Underperform)
Total Votes:		42,659

MarketBeat's community ratings are surveys of what our community members think about National Bank Financial and other research firms. Vote "Outperform" if you believe National Bank Financial's recommendations will outperform the S&P 500 over the long term. Vote "Underperform" if you believe National Bank Financial's recommendations will underperform the S&P 500 over the long term. You may vote once every thirty days.

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