National Bank Financial Analyst Recommendations & Stock Picks

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.

Brokerage Ranking

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Average Return

00.00% 12-Month ROI

Total Ratings

259 Last 12 Months

Buy Ratings

154 Last 12 Months

Sell Ratings

4 Last 12 Months

Companies Covered

206 Last 12 Months

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Reporting Date

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Company	Current Price	Report Date	Analyst	Action	Price Target	Rating	12-Month Recommendation ROI	Details
NMG Nouveau Monde Graphite	$2.15 +10.8%	9/11/2025		Upgrade		Hold	00.00%	View details for National Bank Financial rating of Nouveau Monde Graphite (NYSE:NMG) on 9/11/2025
PAAS Pan American Silver	$36.72 -0.3%	9/4/2025		Upgrade		Strong-Buy	00.00%	View details for National Bank Financial rating of Pan American Silver (NYSE:PAAS) on 9/4/2025
NTR Nutrien	$57.00 -0.2%	9/5/2025		Initiated Coverage		Sector Perform	00.00%	View details for National Bank Financial rating of Nutrien (NYSE:NTR) on 9/5/2025
CVE Cenovus Energy	$16.89 -0.1%	8/22/2025		Upgrade		Hold ➝ Strong-Buy	00.00%	View details for National Bank Financial rating of Cenovus Energy (NYSE:CVE) on 8/22/2025
LAR Lithium Americas (Argentina)	$3.02 -3.2%	8/11/2025		Upgrade		Hold ➝ Strong-Buy	00.00%	View details for National Bank Financial rating of Lithium Americas (Argentina) (NYSE:LAR) on 8/11/2025
SLF Sun Life Financial	$59.29 -0.5%	8/7/2025		Downgrade		Strong-Buy ➝ Hold	00.00%	View details for National Bank Financial rating of Sun Life Financial (NYSE:SLF) on 8/7/2025
CP Canadian Pacific Kansas City	$75.14 -0.8%	7/30/2025		Upgrade		Hold ➝ Strong-Buy	00.00%	View details for National Bank Financial rating of Canadian Pacific Kansas City (NYSE:CP) on 7/30/2025
BN Brookfield	$67.80 -1.5%	7/28/2025		Upgrade		Strong-Buy	00.00%	View details for National Bank Financial rating of Brookfield (NYSE:BN) on 7/28/2025
BAM Brookfield Asset Management	$56.68 -0.1%	7/28/2025		Upgrade		Strong-Buy	00.00%	View details for National Bank Financial rating of Brookfield Asset Management (NYSE:BAM) on 7/28/2025
BN Brookfield	$67.80 -1.5%	7/29/2025		Initiated Coverage	$82.00	Outperform	00.00%	View details for National Bank Financial rating of Brookfield (NYSE:BN) on 7/29/2025
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BAM Brookfield Asset Management	$56.68 -0.1%	7/29/2025		Initiated Coverage	$71.00	Outperform	00.00%	View details for National Bank Financial rating of Brookfield Asset Management (NYSE:BAM) on 7/29/2025
NEM Newmont	$79.25 -0.5%	7/25/2025		Upgrade		Hold ➝ Strong-Buy	00.00%	View details for National Bank Financial rating of Newmont (NYSE:NEM) on 7/25/2025
CNI Canadian National Railway	$93.50 -0.5%	7/23/2025		Downgrade		Outperform ➝ Sector Perform	00.00%	View details for National Bank Financial rating of Canadian National Railway (NYSE:CNI) on 7/23/2025
TIXT Telus Digital	$4.48 -0.6%	7/21/2025		Downgrade	$4.00	Outperform ➝ Sector Perform	00.00%	View details for National Bank Financial rating of Telus Digital (NYSE:TIXT) on 7/21/2025
ERO Ero Copper	$16.93 0.0%	7/9/2025	S. Nagle Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Downgrade		Outperform ➝ Sector Perform	00.00%	View details for National Bank Financial rating of Ero Copper (NYSE:ERO) on 7/9/2025
VZLA Vizsla Silver	$3.85 -0.8%	6/26/2025	D. Demarco Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Strong-Buy	00.00%	View details for National Bank Financial rating of Vizsla Silver (NYSE:VZLA) on 6/26/2025
PBA Pembina Pipeline	$39.24 +0.6%	6/25/2025	P. Kenny Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Hold ➝ Strong-Buy	00.00%	View details for National Bank Financial rating of Pembina Pipeline (NYSE:PBA) on 6/25/2025
HL Hecla Mining	$11.22 +0.6%	6/12/2025	A. Terentiew Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Hold	00.00%	View details for National Bank Financial rating of Hecla Mining (NYSE:HL) on 6/12/2025
EXK Endeavour Silver	$6.15 +0.2%	6/12/2025	A. Terentiew Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Strong-Buy	00.00%	View details for National Bank Financial rating of Endeavour Silver (NYSE:EXK) on 6/12/2025
CDE Coeur Mining	$15.54 +1.1%	6/12/2025	A. Terentiew Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Strong-Buy	00.00%	View details for National Bank Financial rating of Coeur Mining (NYSE:CDE) on 6/12/2025
AG First Majestic Silver	$10.54 +1.4%	6/12/2025	A. Terentiew Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Hold	00.00%	View details for National Bank Financial rating of First Majestic Silver (NYSE:AG) on 6/12/2025
BLDP Ballard Power Systems	$2.07 +1.0%	6/8/2025	B. Sidhu Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Hold	00.00%	View details for National Bank Financial rating of Ballard Power Systems (NASDAQ:BLDP) on 6/8/2025
BEP Brookfield Renewable Partners	$25.30 +1.0%	6/8/2025	B. Sidhu Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Strong-Buy	00.00%	View details for National Bank Financial rating of Brookfield Renewable Partners (NYSE:BEP) on 6/8/2025
AQN Algonquin Power & Utilities	$5.59 -0.4%	6/8/2025	B. Sidhu Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Hold	00.00%	View details for National Bank Financial rating of Algonquin Power & Utilities (NYSE:AQN) on 6/8/2025
AQN Algonquin Power & Utilities	$5.59 -0.4%	6/4/2025	R. Merer Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Downgrade	$6.75	Outperform ➝ Sector Perform	00.00%	View details for National Bank Financial rating of Algonquin Power & Utilities (NYSE:AQN) on 6/4/2025
RY Royal Bank Of Canada	$144.21 -0.6%	5/30/2025	G. Dechaine Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Downgrade		Outperform ➝ Sector Perform	00.00%	View details for National Bank Financial rating of Royal Bank Of Canada (NYSE:RY) on 5/30/2025
CM Canadian Imperial Bank of Commerce	$79.16 -0.5%	5/30/2025	G. Dechaine Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Downgrade		Outperform ➝ Sector Perform	00.00%	View details for National Bank Financial rating of Canadian Imperial Bank of Commerce (NYSE:CM) on 5/30/2025
WM Waste Management	$218.22 -1.0%	5/26/2025	M. Doumet Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Hold	00.00%	View details for National Bank Financial rating of Waste Management (NYSE:WM) on 5/26/2025
WCN Waste Connections	$176.10 -1.1%	5/26/2025	M. Doumet Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Strong-Buy	00.00%	View details for National Bank Financial rating of Waste Connections (NYSE:WCN) on 5/26/2025
RSG Republic Services	$228.46 -1.6%	5/26/2025	M. Doumet Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Hold	00.00%	View details for National Bank Financial rating of Republic Services (NYSE:RSG) on 5/26/2025
RBA RB Global	$117.21 -1.3%	5/25/2025	M. Sytchev Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Downgrade		Strong-Buy ➝ Hold	00.00%	View details for National Bank Financial rating of RB Global (NYSE:RBA) on 5/25/2025
GFL GFL Environmental	$47.17 -2.0%	5/26/2025	M. Doumet Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Strong-Buy	00.00%	View details for National Bank Financial rating of GFL Environmental (NYSE:GFL) on 5/26/2025
LAC Lithium Americas	$2.86 +0.7%	5/16/2025	M. Sidibe Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Downgrade		Strong-Buy ➝ Hold	00.00%	View details for National Bank Financial rating of Lithium Americas (NYSE:LAC) on 5/16/2025
TIXT Telus Digital	$4.48 -0.6%	5/9/2025	R. Tse Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Sector Perform ➝ Outperform	00.00%	View details for National Bank Financial rating of Telus Digital (NYSE:TIXT) on 5/9/2025
DCBO Docebo	$30.25 +0.2%	5/9/2025	R. Tse Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Downgrade		Outperform ➝ Sector Perform	00.00%	View details for National Bank Financial rating of Docebo (NASDAQ:DCBO) on 5/9/2025
CAE CAE	$26.45 -0.8%	5/6/2025	C. Doerksen Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Hold ➝ Strong-Buy	00.00%	View details for National Bank Financial rating of CAE (NYSE:CAE) on 5/6/2025
ERO Ero Copper	$16.93 0.0%	5/6/2025	S. Nagle Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Hold ➝ Strong-Buy	00.00%	View details for National Bank Financial rating of Ero Copper (NYSE:ERO) on 5/6/2025
MTAL MAC Copper	$12.19 -0.2%	4/30/2025	S. Nagle Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Downgrade		Strong-Buy ➝ Hold	00.00%	View details for National Bank Financial rating of MAC Copper (NYSE:MTAL) on 4/30/2025
MUX McEwen	$13.83 +0.1%	4/29/2025	D. Demarco Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Strong-Buy	00.00%	View details for National Bank Financial rating of McEwen (NYSE:MUX) on 4/29/2025
TECK Teck Resources	$41.91 +0.6%	4/24/2025	S. Nagle Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Hold ➝ Strong-Buy	00.00%	View details for National Bank Financial rating of Teck Resources (NYSE:TECK) on 4/24/2025
TFPM Triple Flag Precious Metals	$28.64 -0.8%	4/23/2025	S. Nagle Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Strong-Buy	00.00%	View details for National Bank Financial rating of Triple Flag Precious Metals (NYSE:TFPM) on 4/23/2025
TFII TFI International	$93.67 -1.2%	4/3/2025	C. Doerksen Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Hold ➝ Strong-Buy	00.00%	View details for National Bank Financial rating of TFI International (NYSE:TFII) on 4/3/2025
BCE BCE	$24.17 -0.6%	4/3/2025	A. Shine Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Hold ➝ Strong-Buy	00.00%	View details for National Bank Financial rating of BCE (NYSE:BCE) on 4/3/2025
SSRM Silver Standard Resources	$22.39 -1.6%	3/21/2025	D. Demarco Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Hold	00.00%	View details for National Bank Financial rating of Silver Standard Resources (NASDAQ:SSRM) on 3/21/2025
PPTA Perpetua Resources	$17.32 +0.6%	3/21/2025	R. Nizami Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Strong-Buy	00.00%	View details for National Bank Financial rating of Perpetua Resources (NASDAQ:PPTA) on 3/21/2025
NGD New Gold	$6.52 -0.2%	3/21/2025	M. Sidibe Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Strong-Buy	00.00%	View details for National Bank Financial rating of New Gold (NYSE:NGD) on 3/21/2025
NEM Newmont	$79.25 -0.5%	3/21/2025	S. Nagle Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Hold	00.00%	View details for National Bank Financial rating of Newmont (NYSE:NEM) on 3/21/2025
KGC Kinross Gold	$23.29 +0.1%	3/21/2025	S. Nagle Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Strong-Buy	00.00%	View details for National Bank Financial rating of Kinross Gold (NYSE:KGC) on 3/21/2025
IAG Iamgold	$11.18 +1.2%	3/21/2025	M. Sidibe Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Strong-Buy	00.00%	View details for National Bank Financial rating of Iamgold (NYSE:IAG) on 3/21/2025
HL Hecla Mining	$11.22 +0.6%	3/21/2025	A. Dusome Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Hold	00.00%	View details for National Bank Financial rating of Hecla Mining (NYSE:HL) on 3/21/2025
B Barrick Mining	$29.05 -1.2%	3/21/2025	S. Nagle Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Hold	00.00%	View details for National Bank Financial rating of Barrick Mining (NYSE:B) on 3/21/2025
FSM Fortuna Mining	$8.37 -0.8%	3/21/2025	M. Sidibe Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Hold	00.00%	View details for National Bank Financial rating of Fortuna Mining (NYSE:FSM) on 3/21/2025
EGO Eldorado Gold	$28.11 +1.6%	3/21/2025	D. Demarco Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Strong-Buy	00.00%	View details for National Bank Financial rating of Eldorado Gold (NYSE:EGO) on 3/21/2025
CGAU Centerra Gold	$9.23 +0.6%	3/21/2025	D. Demarco Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Strong-Buy	00.00%	View details for National Bank Financial rating of Centerra Gold (NYSE:CGAU) on 3/21/2025
CDE Coeur Mining	$15.54 +1.1%	3/21/2025	A. Dusome Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Strong-Buy	00.00%	View details for National Bank Financial rating of Coeur Mining (NYSE:CDE) on 3/21/2025
AGI Alamos Gold	$32.97 +0.2%	3/21/2025	D. Demarco Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Strong-Buy	00.00%	View details for National Bank Financial rating of Alamos Gold (NYSE:AGI) on 3/21/2025
AEM Agnico Eagle Mines	$153.35 -0.2%	3/21/2025	S. Nagle Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Strong-Buy	00.00%	View details for National Bank Financial rating of Agnico Eagle Mines (NYSE:AEM) on 3/21/2025
CVE Cenovus Energy	$16.89 -0.1%	2/21/2025	T. Wood Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Downgrade		Outperform ➝ Sector Perform	00.00%	View details for National Bank Financial rating of Cenovus Energy (NYSE:CVE) on 2/21/2025
UROY Uranium Royalty	$3.14 -2.5%	2/12/2025	M. Sidibe Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Initiated Coverage		Sector Perform	00.00%	View details for National Bank Financial rating of Uranium Royalty (NASDAQ:UROY) on 2/12/2025
CAE CAE	$26.45 -0.8%	1/22/2025	C. Doerksen Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Downgrade		Outperform ➝ Sector Perform	00.00%	View details for National Bank Financial rating of CAE (NYSE:CAE) on 1/22/2025
SLF Sun Life Financial	$59.29 -0.5%	1/15/2025	G. Dechaine Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Sector Perform ➝ Outperform	00.00%	View details for National Bank Financial rating of Sun Life Financial (NYSE:SLF) on 1/15/2025
IAUX i-80 Gold	$0.93 +1.9%	1/8/2025	D. Demarco Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Hold ➝ Strong-Buy	00.00%	View details for National Bank Financial rating of i-80 Gold (NYSE:IAUX) on 1/8/2025
VZLA Vizsla Silver	$3.85 -0.8%	12/19/2024	D. Demarco Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Initiated Coverage		Outperform	00.00%	View details for National Bank Financial rating of Vizsla Silver (NYSE:VZLA) on 12/19/2024
TU TELUS	$15.96 -0.3%	12/13/2024	A. Shine Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Downgrade		Outperform ➝ Sector Perform	00.00%	View details for National Bank Financial rating of TELUS (NYSE:TU) on 12/13/2024
TGB Taseko Mines	$3.55 +1.4%	12/10/2024	S. Nagle Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Sector Perform ➝ Outperform	00.00%	View details for National Bank Financial rating of Taseko Mines (NYSE:TGB) on 12/10/2024
TECK Teck Resources	$41.91 +0.6%	12/10/2024	S. Nagle Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Downgrade		Outperform ➝ Sector Perform	00.00%	View details for National Bank Financial rating of Teck Resources (NYSE:TECK) on 12/10/2024
AGI Alamos Gold	$32.97 +0.2%	12/3/2024	M. Parkin Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Sector Perform ➝ Outperform	00.00%	View details for National Bank Financial rating of Alamos Gold (NYSE:AGI) on 12/3/2024
HL Hecla Mining	$11.22 +0.6%	11/8/2024	M. Parkin Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Downgrade		Strong-Buy ➝ Hold	00.00%	View details for National Bank Financial rating of Hecla Mining (NYSE:HL) on 11/8/2024
CIGI Colliers International Group	$166.83 -0.9%	11/5/2024	M. Sytchev Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Hold ➝ Strong-Buy	00.00%	View details for National Bank Financial rating of Colliers International Group (NASDAQ:CIGI) on 11/5/2024
LAC Lithium Americas	$2.86 +0.7%	10/17/2024	M. Sidibe Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Sector Perform ➝ Outperform	00.00%	View details for National Bank Financial rating of Lithium Americas (NYSE:LAC) on 10/17/2024
IAUX i-80 Gold	$0.93 +1.9%	10/9/2024	D. Demarco Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Downgrade		Strong-Buy ➝ Hold	00.00%	View details for National Bank Financial rating of i-80 Gold (NYSE:IAUX) on 10/9/2024
WPM Wheaton Precious Metals	$106.79 -0.5%	10/10/2024	S. Nagle Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Sector Perform ➝ Outperform	00.00%	View details for National Bank Financial rating of Wheaton Precious Metals (NYSE:WPM) on 10/10/2024
IAG Iamgold	$11.18 +1.2%	10/10/2024	M. Parkin Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Sector Perform ➝ Outperform	00.00%	View details for National Bank Financial rating of Iamgold (NYSE:IAG) on 10/10/2024
WRN Western Copper & Gold	$1.67 +4.4%	9/30/2024	R. Nizami Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Strong-Buy	00.00%	View details for National Bank Financial rating of Western Copper & Gold (NYSE:WRN) on 9/30/2024
BCE BCE	$24.17 -0.6%	9/30/2024	A. Shine Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Downgrade		Strong-Buy ➝ Hold	00.00%	View details for National Bank Financial rating of BCE (NYSE:BCE) on 9/30/2024
DSGX The Descartes Systems Group	$104.30 -2.5%	9/25/2024	J. Shao Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Strong-Buy	00.00%	View details for National Bank Financial rating of The Descartes Systems Group (NASDAQ:DSGX) on 9/25/2024
AGI Alamos Gold	$32.97 +0.2%	9/8/2024	M. Parkin Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Downgrade		Strong-Buy ➝ Hold	00.00%	View details for National Bank Financial rating of Alamos Gold (NYSE:AGI) on 9/8/2024
TRI Thomson Reuters	$172.99 -0.3%	9/9/2024	A. Shine Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Sector Perform ➝ Outperform	00.00%	View details for National Bank Financial rating of Thomson Reuters (NYSE:TRI) on 9/9/2024
PPTA Perpetua Resources	$17.32 +0.6%	9/6/2024	M. Parkin Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Initiated Coverage		Outperform	00.00%	View details for National Bank Financial rating of Perpetua Resources (NASDAQ:PPTA) on 9/6/2024
NXE NexGen Energy	$7.61 -3.3%	9/3/2024	M. Sidibe Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Strong-Buy	00.00%	View details for National Bank Financial rating of NexGen Energy (NYSE:NXE) on 9/3/2024
CCJ Cameco	$78.07 -2.3%	9/3/2024	M. Sidibe Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Strong-Buy	00.00%	View details for National Bank Financial rating of Cameco (NYSE:CCJ) on 9/3/2024
TD Toronto Dominion Bank	$76.79 0.0%	8/22/2024	G. Dechaine Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Underperform ➝ Sector Perform	00.00%	View details for National Bank Financial rating of Toronto Dominion Bank (NYSE:TD) on 8/22/2024
DOOO BRP	$64.30 -1.3%	8/21/2024	C. Doerksen Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Downgrade		Outperform ➝ Sector Perform	00.00%	View details for National Bank Financial rating of BRP (NASDAQ:DOOO) on 8/21/2024
AQN Algonquin Power & Utilities	$5.59 -0.4%	8/12/2024	R. Merer Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Hold ➝ Strong-Buy	00.00%	View details for National Bank Financial rating of Algonquin Power & Utilities (NYSE:AQN) on 8/12/2024
OTEX Open Text	$35.68 +1.2%	8/2/2024	R. Tse Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Downgrade		Outperform ➝ Sector Perform	00.00%	View details for National Bank Financial rating of Open Text (NASDAQ:OTEX) on 8/2/2024
TFII TFI International	$93.67 -1.2%	7/26/2024	C. Doerksen Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Downgrade		Strong-Buy ➝ Hold	00.00%	View details for National Bank Financial rating of TFI International (NYSE:TFII) on 7/26/2024
CNI Canadian National Railway	$93.50 -0.5%	6/27/2024	C. Doerksen Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Sector Perform ➝ Outperform	00.00%	View details for National Bank Financial rating of Canadian National Railway (NYSE:CNI) on 6/27/2024
LAC Lithium Americas	$2.86 +0.7%	6/5/2024	M. Sidibe Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Hold	00.00%	View details for National Bank Financial rating of Lithium Americas (NYSE:LAC) on 6/5/2024
LAAC Lithium Americas (Argentina)	$3.02 -3.2%	6/5/2024	M. Sidibe Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Hold	00.00%	View details for National Bank Financial rating of Lithium Americas (Argentina) (NYSE:LAAC) on 6/5/2024
AMLI American Lithium	$0.34 -2.4%	6/5/2024	M. Sidibe Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Strong-Buy	00.00%	View details for National Bank Financial rating of American Lithium (NASDAQ:AMLI) on 6/5/2024
EFXT Enerflex	$10.58 +0.9%	6/2/2024	D. Payne Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Downgrade		Strong-Buy ➝ Hold	00.00%	View details for National Bank Financial rating of Enerflex (NYSE:EFXT) on 6/2/2024
TD Toronto Dominion Bank	$76.79 0.0%	5/23/2024	G. Dechaine Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Downgrade		Sector Perform ➝ Underperform	00.00%	View details for National Bank Financial rating of Toronto Dominion Bank (NYSE:TD) on 5/23/2024
NGD New Gold	$6.52 -0.2%	5/17/2024	M. Parkin Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Hold ➝ Strong-Buy	00.00%	View details for National Bank Financial rating of New Gold (NYSE:NGD) on 5/17/2024
HBM HudBay Minerals	$13.54 -0.2%	5/14/2024	S. Nagle Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Hold ➝ Strong-Buy	00.00%	View details for National Bank Financial rating of HudBay Minerals (NYSE:HBM) on 5/14/2024
MFC Manulife Financial	$31.89 +0.3%	5/9/2024	G. Dechaine Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Sector Perform ➝ Outperform	00.00%	View details for National Bank Financial rating of Manulife Financial (NYSE:MFC) on 5/9/2024
NEM Newmont	$79.25 -0.5%	4/30/2024	M. Parkin Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Downgrade			00.00%	View details for National Bank Financial rating of Newmont (NYSE:NEM) on 4/30/2024
TFII TFI International	$93.67 -1.2%	4/26/2024	C. Doerksen Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade			00.00%	View details for National Bank Financial rating of TFI International (NYSE:TFII) on 4/26/2024
TRI Thomson Reuters	$172.99 -0.3%	4/23/2024	A. Shine Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Underperform ➝ Sector Perform	00.00%	View details for National Bank Financial rating of Thomson Reuters (NYSE:TRI) on 4/23/2024
SSRM Silver Standard Resources	$22.39 -1.6%	4/8/2024	M. Parkin Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating			00.00%	View details for National Bank Financial rating of Silver Standard Resources (NASDAQ:SSRM) on 4/8/2024
NGD New Gold	$6.52 -0.2%	4/8/2024	M. Parkin Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating			00.00%	View details for National Bank Financial rating of New Gold (NYSE:NGD) on 4/8/2024
NEM Newmont	$79.25 -0.5%	4/8/2024	M. Parkin Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating			00.00%	View details for National Bank Financial rating of Newmont (NYSE:NEM) on 4/8/2024
KGC Kinross Gold	$23.29 +0.1%	4/8/2024	M. Parkin Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating			00.00%	View details for National Bank Financial rating of Kinross Gold (NYSE:KGC) on 4/8/2024
IAG Iamgold	$11.18 +1.2%	4/8/2024	M. Parkin Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating			00.00%	View details for National Bank Financial rating of Iamgold (NYSE:IAG) on 4/8/2024
HL Hecla Mining	$11.22 +0.6%	4/8/2024	M. Parkin Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating			00.00%	View details for National Bank Financial rating of Hecla Mining (NYSE:HL) on 4/8/2024
B Barrick Mining	$29.05 -1.2%	4/8/2024	M. Parkin Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating			00.00%	View details for National Bank Financial rating of Barrick Mining (NYSE:B) on 4/8/2024
EGO Eldorado Gold	$28.11 +1.6%	4/8/2024	M. Parkin Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating			00.00%	View details for National Bank Financial rating of Eldorado Gold (NYSE:EGO) on 4/8/2024
CGAU Centerra Gold	$9.23 +0.6%	4/8/2024	M. Parkin Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating			00.00%	View details for National Bank Financial rating of Centerra Gold (NYSE:CGAU) on 4/8/2024
CDE Coeur Mining	$15.54 +1.1%	4/8/2024	M. Parkin Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating			00.00%	View details for National Bank Financial rating of Coeur Mining (NYSE:CDE) on 4/8/2024
AGI Alamos Gold	$32.97 +0.2%	4/8/2024	M. Parkin Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating			00.00%	View details for National Bank Financial rating of Alamos Gold (NYSE:AGI) on 4/8/2024
AEM Agnico Eagle Mines	$153.35 -0.2%	4/8/2024	M. Parkin Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating			00.00%	View details for National Bank Financial rating of Agnico Eagle Mines (NYSE:AEM) on 4/8/2024
TRI Thomson Reuters	$172.99 -0.3%	2/20/2024	A. Shine Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Downgrade			00.00%	View details for National Bank Financial rating of Thomson Reuters (NYSE:TRI) on 2/20/2024
WPM Wheaton Precious Metals	$106.79 -0.5%	2/21/2024	S. Nagle Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Downgrade		Outperform ➝ Sector Perform	00.00%	View details for National Bank Financial rating of Wheaton Precious Metals (NYSE:WPM) on 2/21/2024
RGLD Royal Gold	$189.32 +0.1%	2/15/2024	S. Nagle Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Sector Perform ➝ Outperform	00.00%	View details for National Bank Financial rating of Royal Gold (NASDAQ:RGLD) on 2/15/2024
LSPD Lightspeed Commerce	$11.86 +0.5%	2/8/2024	R. Tse Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Downgrade			00.00%	View details for National Bank Financial rating of Lightspeed Commerce (NYSE:LSPD) on 2/8/2024
BIP Brookfield Infrastructure Partners	$30.65 -1.1%	1/30/2024	P. Kenny Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Downgrade		Outperform ➝ Sector Perform	00.00%	View details for National Bank Financial rating of Brookfield Infrastructure Partners (NYSE:BIP) on 1/30/2024
SSRM Silver Standard Resources	$22.39 -1.6%	1/3/2024	D. Demarco Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating			00.00%	View details for National Bank Financial rating of Silver Standard Resources (NASDAQ:SSRM) on 1/3/2024
NGD New Gold	$6.52 -0.2%	1/3/2024	D. Demarco Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating			00.00%	View details for National Bank Financial rating of New Gold (NYSE:NGD) on 1/3/2024
NEM Newmont	$79.25 -0.5%	1/3/2024	S. Nagle Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating			00.00%	View details for National Bank Financial rating of Newmont (NYSE:NEM) on 1/3/2024
KGC Kinross Gold	$23.29 +0.1%	1/3/2024	S. Nagle Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating			00.00%	View details for National Bank Financial rating of Kinross Gold (NYSE:KGC) on 1/3/2024
IAG Iamgold	$11.18 +1.2%	1/3/2024	D. Demarco Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating			00.00%	View details for National Bank Financial rating of Iamgold (NYSE:IAG) on 1/3/2024
HL Hecla Mining	$11.22 +0.6%	1/3/2024	D. Demarco Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating			00.00%	View details for National Bank Financial rating of Hecla Mining (NYSE:HL) on 1/3/2024
B Barrick Mining	$29.05 -1.2%	1/3/2024	S. Nagle Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating			00.00%	View details for National Bank Financial rating of Barrick Mining (NYSE:B) on 1/3/2024
EGO Eldorado Gold	$28.11 +1.6%	1/3/2024	S. Nagle Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating			00.00%	View details for National Bank Financial rating of Eldorado Gold (NYSE:EGO) on 1/3/2024
CGAU Centerra Gold	$9.23 +0.6%	1/3/2024	S. Nagle Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating			00.00%	View details for National Bank Financial rating of Centerra Gold (NYSE:CGAU) on 1/3/2024
CDE Coeur Mining	$15.54 +1.1%	1/3/2024	D. Demarco Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating			00.00%	View details for National Bank Financial rating of Coeur Mining (NYSE:CDE) on 1/3/2024
AGI Alamos Gold	$32.97 +0.2%	1/3/2024	S. Nagle Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating			00.00%	View details for National Bank Financial rating of Alamos Gold (NYSE:AGI) on 1/3/2024
AEM Agnico Eagle Mines	$153.35 -0.2%	1/3/2024	S. Nagle Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating			00.00%	View details for National Bank Financial rating of Agnico Eagle Mines (NYSE:AEM) on 1/3/2024
CM Canadian Imperial Bank of Commerce	$79.16 -0.5%	12/20/2023		Upgrade		Sector Perform ➝ Outperform	00.00%	View details for National Bank Financial rating of Canadian Imperial Bank of Commerce (NYSE:CM) on 12/20/2023
BMO Bank Of Montreal	$126.36 -0.3%	12/20/2023		Upgrade		Sector Perform ➝ Outperform	00.00%	View details for National Bank Financial rating of Bank Of Montreal (NYSE:BMO) on 12/20/2023
MTAL MAC Copper	$12.19 -0.2%	12/13/2023	S. Nagle Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating			00.00%	View details for National Bank Financial rating of MAC Copper (NYSE:MTAL) on 12/13/2023
MTAL MAC Copper	$12.19 -0.2%	12/14/2023		Initiated Coverage	$14.00	Outperform	00.00%	View details for National Bank Financial rating of MAC Copper (NYSE:MTAL) on 12/14/2023
ARMN Aris Mining	$9.77 +0.3%	11/27/2023	D. Demarco Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating			00.00%	View details for National Bank Financial rating of Aris Mining (NYSE:ARMN) on 11/27/2023
PDS Precision Drilling	$57.54 +1.2%	11/21/2023		Downgrade		Outperform ➝ Sector Perform	00.00%	View details for National Bank Financial rating of Precision Drilling (NYSE:PDS) on 11/21/2023
LAC Lithium Americas	$2.86 +0.7%	11/15/2023		Initiated Coverage		Outperform	00.00%	View details for National Bank Financial rating of Lithium Americas (NYSE:LAC) on 11/15/2023
BIP Brookfield Infrastructure Partners	$30.65 -1.1%	10/18/2023	P. Kenny Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade	$33.00		00.00%	View details for National Bank Financial rating of Brookfield Infrastructure Partners (NYSE:BIP) on 10/18/2023
OVV Ovintiv	$41.91 -1.1%	10/12/2023		Boost Price Target	$59.00 ➝ $69.00		00.00%	View details for National Bank Financial rating of Ovintiv (NYSE:OVV) on 10/12/2023
CNI Canadian National Railway	C$93.50 -0.5%	10/4/2023		Lower Price Target	C$171.00 ➝ C$168.00		00.00%	View details for National Bank Financial rating of Canadian National Railway (NYSE:CNI) on 10/4/2023
THTX Theratechnologies	C$3.30 +0.6%	9/27/2023		Lower Price Target	C$7.00 ➝ C$5.50		00.00%	View details for National Bank Financial rating of Theratechnologies (NASDAQ:THTX) on 9/27/2023
WPM Wheaton Precious Metals	C$106.79 -0.5%	9/25/2023		Lower Price Target	C$75.00 ➝ C$72.50		00.00%	View details for National Bank Financial rating of Wheaton Precious Metals (NYSE:WPM) on 9/25/2023
TFPM Triple Flag Precious Metals	C$28.64 -0.8%	9/25/2023		Lower Price Target	C$24.00 ➝ C$23.50		00.00%	View details for National Bank Financial rating of Triple Flag Precious Metals (NYSE:TFPM) on 9/25/2023
SAND Sandstorm Gold	C$11.79 +0.4%	9/25/2023		Lower Price Target	C$9.50 ➝ C$9.00		00.00%	View details for National Bank Financial rating of Sandstorm Gold (NYSE:SAND) on 9/25/2023
ENB Enbridge	$49.11 +0.6%	9/11/2023		Initiated Coverage		Sector Perform	00.00%	View details for National Bank Financial rating of Enbridge (NYSE:ENB) on 9/11/2023
BCE BCE	$24.17 -0.6%	8/23/2023	A. Shine Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade			00.00%	View details for National Bank Financial rating of BCE (NYSE:BCE) on 8/23/2023
EFXT Enerflex	C$10.58 +0.9%	8/10/2023		Boost Price Target	C$11.50 ➝ C$14.00		00.00%	View details for National Bank Financial rating of Enerflex (NYSE:EFXT) on 8/10/2023
CNQ Canadian Natural Resources	$31.21 0.0%	8/4/2023		Downgrade		Outperform ➝ Sector Perform	00.00%	View details for National Bank Financial rating of Canadian Natural Resources (NYSE:CNQ) on 8/4/2023
TRI Thomson Reuters	$172.99 -0.3%	8/3/2023	A. Shine Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Downgrade		Outperform ➝ Sector Perform	00.00%	View details for National Bank Financial rating of Thomson Reuters (NYSE:TRI) on 8/3/2023
THTX Theratechnologies	C$3.30 +0.6%	8/1/2023		Boost Price Target	C$1.75 ➝ C$7.00		00.00%	View details for National Bank Financial rating of Theratechnologies (NASDAQ:THTX) on 8/1/2023
TFII TFI International	$93.67 -1.2%	8/1/2023	C. Doerksen Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Downgrade		Outperform ➝ Sector Perform	00.00%	View details for National Bank Financial rating of TFI International (NYSE:TFII) on 8/1/2023
TRP TC Energy	$52.31 +0.4%	7/28/2023	P. Kenny Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Sector Perform ➝ Outperform	00.00%	View details for National Bank Financial rating of TC Energy (NYSE:TRP) on 7/28/2023
TECK Teck Resources	$41.91 +0.6%	7/27/2023		Upgrade		Sector Perform ➝ Outperform	00.00%	View details for National Bank Financial rating of Teck Resources (NYSE:TECK) on 7/27/2023
CNI Canadian National Railway	C$93.50 -0.5%	7/25/2023		Lower Price Target	C$173.00 ➝ C$171.00		00.00%	View details for National Bank Financial rating of Canadian National Railway (NYSE:CNI) on 7/25/2023
WPM Wheaton Precious Metals	C$106.79 -0.5%	7/21/2023		Lower Price Target	C$80.00 ➝ C$75.00		00.00%	View details for National Bank Financial rating of Wheaton Precious Metals (NYSE:WPM) on 7/21/2023
TFPM Triple Flag Precious Metals	C$28.64 -0.8%	7/21/2023	S. Nagle Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Lower Price Target	C$25.00 ➝ C$24.00		00.00%	View details for National Bank Financial rating of Triple Flag Precious Metals (NYSE:TFPM) on 7/21/2023
SAND Sandstorm Gold	C$11.79 +0.4%	7/21/2023		Boost Price Target	C$9.25 ➝ C$9.50		00.00%	View details for National Bank Financial rating of Sandstorm Gold (NYSE:SAND) on 7/21/2023
FSM Fortuna Mining	C$8.37 -0.8%	7/21/2023		Lower Price Target	C$7.25 ➝ C$6.75		00.00%	View details for National Bank Financial rating of Fortuna Mining (NYSE:FSM) on 7/21/2023
TIXT Telus Digital	$4.48 -0.6%	7/14/2023		Downgrade	$32.00 ➝ $17.00	Outperform ➝ Sector Perform	00.00%	View details for National Bank Financial rating of Telus Digital (NYSE:TIXT) on 7/14/2023
CNI Canadian National Railway	C$93.50 -0.5%	7/11/2023		Lower Price Target	C$178.00 ➝ C$173.00		00.00%	View details for National Bank Financial rating of Canadian National Railway (NYSE:CNI) on 7/11/2023
RBA RB Global	$117.21 -1.3%	7/10/2023		Boost Price Target	$61.00 ➝ $70.00		00.00%	View details for National Bank Financial rating of RB Global (NYSE:RBA) on 7/10/2023
CIGI Colliers International Group	$166.83 -0.9%	7/10/2023		Lower Price Target	$133.00 ➝ $131.00		00.00%	View details for National Bank Financial rating of Colliers International Group (NASDAQ:CIGI) on 7/10/2023
CDE Coeur Mining	$15.54 +1.1%	6/27/2023		Initiated Coverage	$4.25	Outperform	00.00%	View details for National Bank Financial rating of Coeur Mining (NYSE:CDE) on 6/27/2023
HL Hecla Mining	$11.22 +0.6%	6/27/2023		Initiated Coverage	$7.50	Outperform	00.00%	View details for National Bank Financial rating of Hecla Mining (NYSE:HL) on 6/27/2023
EGO Eldorado Gold	$28.11 +1.6%	6/7/2023	M. Parkin Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Sector Perform ➝ Outperform	00.00%	View details for National Bank Financial rating of Eldorado Gold (NYSE:EGO) on 6/7/2023
FSM Fortuna Mining	C$8.37 -0.8%	5/19/2023		Boost Price Target	C$7.00 ➝ C$7.25		00.00%	View details for National Bank Financial rating of Fortuna Mining (NYSE:FSM) on 5/19/2023
CGAU Centerra Gold	C$9.23 +0.6%	5/18/2023		Lower Price Target	C$13.00 ➝ C$12.50		00.00%	View details for National Bank Financial rating of Centerra Gold (NYSE:CGAU) on 5/18/2023
RBA RB Global	$117.21 -1.3%	5/18/2023		Upgrade	$61.00	Sector Perform ➝ Outperform	00.00%	View details for National Bank Financial rating of RB Global (NYSE:RBA) on 5/18/2023
WPM Wheaton Precious Metals	C$106.79 -0.5%	5/8/2023		Boost Price Target	C$80.00		00.00%	View details for National Bank Financial rating of Wheaton Precious Metals (NYSE:WPM) on 5/8/2023
TRI Thomson Reuters	$172.99 -0.3%	5/8/2023	A. Shine Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade		Sector Perform ➝ Outperform	00.00%	View details for National Bank Financial rating of Thomson Reuters (NYSE:TRI) on 5/8/2023
SHOP Shopify	$143.38 -1.1%	5/5/2023		Boost Price Target	$60.00 ➝ $80.00		00.00%	View details for National Bank Financial rating of Shopify (NASDAQ:SHOP) on 5/5/2023
NEM Newmont	C$79.25 -0.5%	5/2/2023		Boost Price Target	C$91.00 ➝ C$94.00		00.00%	View details for National Bank Financial rating of Newmont (NYSE:NEM) on 5/2/2023
SU Suncor Energy	$41.73 -0.7%	4/28/2023		Upgrade		Sector Perform ➝ Outperform	00.00%	View details for National Bank Financial rating of Suncor Energy (NYSE:SU) on 4/28/2023
TECK Teck Resources	$41.91 +0.6%	4/27/2023		Downgrade		Outperform ➝ Sector Perform	00.00%	View details for National Bank Financial rating of Teck Resources (NYSE:TECK) on 4/27/2023
SLS SELLAS Life Sciences Group	C$1.85 -2.1%	4/18/2023	S. Nagle Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating			00.00%	View details for National Bank Financial rating of SELLAS Life Sciences Group (NASDAQ:SLS) on 4/18/2023
WPM Wheaton Precious Metals	C$106.79 -0.5%	4/18/2023		Boost Price Target	C$72.50		00.00%	View details for National Bank Financial rating of Wheaton Precious Metals (NYSE:WPM) on 4/18/2023
TFPM Triple Flag Precious Metals	C$28.64 -0.8%	4/18/2023	S. Nagle Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Price Target	C$22.00 ➝ C$25.00		00.00%	View details for National Bank Financial rating of Triple Flag Precious Metals (NYSE:TFPM) on 4/18/2023
SAND Sandstorm Gold	C$11.79 +0.4%	4/18/2023		Boost Price Target	C$8.00 ➝ C$9.25		00.00%	View details for National Bank Financial rating of Sandstorm Gold (NYSE:SAND) on 4/18/2023
RGLD Royal Gold	C$189.32 +0.1%	4/18/2023		Boost Price Target	C$155.00 ➝ C$165.00		00.00%	View details for National Bank Financial rating of Royal Gold (NASDAQ:RGLD) on 4/18/2023
FSM Fortuna Mining	C$8.37 -0.8%	4/18/2023		Boost Price Target	C$6.00 ➝ C$7.00		00.00%	View details for National Bank Financial rating of Fortuna Mining (NYSE:FSM) on 4/18/2023
EGO Eldorado Gold	C$28.11 +1.6%	4/18/2023	M. Parkin Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Price Target	C$16.50 ➝ C$17.50		00.00%	View details for National Bank Financial rating of Eldorado Gold (NYSE:EGO) on 4/18/2023
CGAU Centerra Gold	C$9.23 +0.6%	4/18/2023		Boost Price Target	C$12.50 ➝ C$13.00		00.00%	View details for National Bank Financial rating of Centerra Gold (NYSE:CGAU) on 4/18/2023
NEM Newmont	C$79.25 -0.5%	4/18/2023		Boost Price Target	C$86.00 ➝ C$91.00		00.00%	View details for National Bank Financial rating of Newmont (NYSE:NEM) on 4/18/2023
B Barrick Mining	C$29.05 -1.2%	4/18/2023		Boost Price Target	C$28.00 ➝ C$32.00		00.00%	View details for National Bank Financial rating of Barrick Mining (NYSE:B) on 4/18/2023
TECK Teck Resources	C$41.91 +0.6%	4/18/2023		Boost Price Target	C$70.00 ➝ C$72.50		00.00%	View details for National Bank Financial rating of Teck Resources (NYSE:TECK) on 4/18/2023
CNI Canadian National Railway	C$93.50 -0.5%	4/17/2023		Boost Price Target	C$175.00 ➝ C$178.00		00.00%	View details for National Bank Financial rating of Canadian National Railway (NYSE:CNI) on 4/17/2023
THTX Theratechnologies	C$3.30 +0.6%	4/13/2023		Lower Price Target	C$13.00 ➝ C$9.00		00.00%	View details for National Bank Financial rating of Theratechnologies (NASDAQ:THTX) on 4/13/2023
EGO Eldorado Gold	C$28.11 +1.6%	4/6/2023	M. Parkin Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Price Target	C$13.50 ➝ C$16.50		00.00%	View details for National Bank Financial rating of Eldorado Gold (NYSE:EGO) on 4/6/2023
DOOO BRP	C$64.30 -1.3%	3/24/2023		Boost Price Target	C$139.00 ➝ C$143.00		00.00%	View details for National Bank Financial rating of BRP (NASDAQ:DOOO) on 3/24/2023
FSM Fortuna Mining	C$8.37 -0.8%	3/23/2023		Boost Price Target	C$5.75 ➝ C$6.00		00.00%	View details for National Bank Financial rating of Fortuna Mining (NYSE:FSM) on 3/23/2023
WPM Wheaton Precious Metals	C$106.79 -0.5%	3/13/2023		Lower Price Target	C$68.00 ➝ C$65.00		00.00%	View details for National Bank Financial rating of Wheaton Precious Metals (NYSE:WPM) on 3/13/2023
DOOO BRP	C$64.30 -1.3%	3/2/2023		Boost Price Target	C$130.00 ➝ C$139.00		00.00%	View details for National Bank Financial rating of BRP (NASDAQ:DOOO) on 3/2/2023
PAAS Pan American Silver	$36.72 -0.3%	2/28/2023	D. Demarco Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating			00.00%	View details for National Bank Financial rating of Pan American Silver (NYSE:PAAS) on 2/28/2023
EGO Eldorado Gold	C$28.11 +1.6%	2/28/2023	M. Parkin Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Lower Price Target	C$14.00 ➝ C$13.50		00.00%	View details for National Bank Financial rating of Eldorado Gold (NYSE:EGO) on 2/28/2023
TRI Thomson Reuters	$172.99 -0.3%	2/28/2023	A. Shine Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Downgrade		Outperform ➝ Sector Perform	00.00%	View details for National Bank Financial rating of Thomson Reuters (NYSE:TRI) on 2/28/2023
TGB Taseko Mines	C$3.55 +1.4%	2/27/2023		Boost Price Target	C$2.50 ➝ C$2.75		00.00%	View details for National Bank Financial rating of Taseko Mines (NYSE:TGB) on 2/27/2023
SAND Sandstorm Gold	C$11.79 +0.4%	2/23/2023		Lower Price Target	C$9.00 ➝ C$8.00		00.00%	View details for National Bank Financial rating of Sandstorm Gold (NYSE:SAND) on 2/23/2023
B Barrick Mining	C$29.05 -1.2%	2/23/2023		Lower Price Target	C$29.00 ➝ C$28.00		00.00%	View details for National Bank Financial rating of Barrick Mining (NYSE:B) on 2/23/2023
GIL Gildan Activewear	C$53.89 -2.4%	2/23/2023		Boost Price Target	C$45.00 ➝ C$46.00		00.00%	View details for National Bank Financial rating of Gildan Activewear (NYSE:GIL) on 2/23/2023
NOA North American Construction Group	C$13.67 +1.4%	2/17/2023		Boost Price Target	C$27.00		00.00%	View details for National Bank Financial rating of North American Construction Group (NYSE:NOA) on 2/17/2023
PAAS Pan American Silver	C$36.72 -0.3%	2/17/2023		Boost Price Target	C$32.50		00.00%	View details for National Bank Financial rating of Pan American Silver (NYSE:PAAS) on 2/17/2023
MFC Manulife Financial	C$31.89 +0.3%	2/16/2023		Boost Price Target	C$26.00 ➝ C$27.00		00.00%	View details for National Bank Financial rating of Manulife Financial (NYSE:MFC) on 2/16/2023
WPM Wheaton Precious Metals	C$106.79 -0.5%	2/14/2023		Lower Price Target	C$70.00 ➝ C$68.00		00.00%	View details for National Bank Financial rating of Wheaton Precious Metals (NYSE:WPM) on 2/14/2023
TFPM Triple Flag Precious Metals	C$28.64 -0.8%	2/14/2023	S. Nagle Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Lower Price Target	C$23.00 ➝ C$22.00		00.00%	View details for National Bank Financial rating of Triple Flag Precious Metals (NYSE:TFPM) on 2/14/2023
SAND Sandstorm Gold	C$11.79 +0.4%	2/14/2023	S. Nagle Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Lower Price Target	C$9.50 ➝ C$9.00		00.00%	View details for National Bank Financial rating of Sandstorm Gold (NYSE:SAND) on 2/14/2023
FSM Fortuna Mining	C$8.37 -0.8%	2/14/2023		Lower Price Target	C$6.00 ➝ C$5.75		00.00%	View details for National Bank Financial rating of Fortuna Mining (NYSE:FSM) on 2/14/2023
AG First Majestic Silver	C$10.54 +1.4%	2/14/2023		Lower Price Target	C$14.50 ➝ C$11.00		00.00%	View details for National Bank Financial rating of First Majestic Silver (NYSE:AG) on 2/14/2023
SSRM Silver Standard Resources	C$22.39 -1.6%	2/14/2023		Lower Price Target	C$26.00 ➝ C$23.00		00.00%	View details for National Bank Financial rating of Silver Standard Resources (NASDAQ:SSRM) on 2/14/2023
IAG Iamgold	C$11.18 +1.2%	2/14/2023		Lower Price Target	C$4.10 ➝ C$4.00		00.00%	View details for National Bank Financial rating of Iamgold (NYSE:IAG) on 2/14/2023
EGO Eldorado Gold	C$28.11 +1.6%	2/14/2023	M. Parkin Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Price Target	C$13.75 ➝ C$14.00		00.00%	View details for National Bank Financial rating of Eldorado Gold (NYSE:EGO) on 2/14/2023
CGAU Centerra Gold	C$9.23 +0.6%	2/14/2023		Boost Price Target	C$11.50 ➝ C$12.50		00.00%	View details for National Bank Financial rating of Centerra Gold (NYSE:CGAU) on 2/14/2023
AGI Alamos Gold	C$32.97 +0.2%	2/14/2023		Boost Price Target	C$17.50 ➝ C$18.00		00.00%	View details for National Bank Financial rating of Alamos Gold (NYSE:AGI) on 2/14/2023
AEM Agnico Eagle Mines	C$153.35 -0.2%	2/14/2023		Lower Price Target	C$89.00 ➝ C$88.00		00.00%	View details for National Bank Financial rating of Agnico Eagle Mines (NYSE:AEM) on 2/14/2023
TECK Teck Resources	C$41.91 +0.6%	2/13/2023		Boost Price Target	C$65.00 ➝ C$70.00		00.00%	View details for National Bank Financial rating of Teck Resources (NYSE:TECK) on 2/13/2023
TGB Taseko Mines	C$3.55 +1.4%	2/13/2023		Boost Price Target	C$2.40 ➝ C$2.50		00.00%	View details for National Bank Financial rating of Taseko Mines (NYSE:TGB) on 2/13/2023
HBM HudBay Minerals	C$13.54 -0.2%	2/13/2023		Boost Price Target	C$8.50 ➝ C$8.75		00.00%	View details for National Bank Financial rating of HudBay Minerals (NYSE:HBM) on 2/13/2023
ERO Ero Copper	C$16.93 0.0%	2/13/2023		Boost Price Target	C$21.00 ➝ C$22.00		00.00%	View details for National Bank Financial rating of Ero Copper (NYSE:ERO) on 2/13/2023
FTS Fortis	C$49.37 +0.3%	2/13/2023		Boost Price Target	C$55.00 ➝ C$56.00		00.00%	View details for National Bank Financial rating of Fortis (NYSE:FTS) on 2/13/2023
TRI Thomson Reuters	C$172.99 -0.3%	2/10/2023		Boost Price Target	C$162.00 ➝ C$170.00		00.00%	View details for National Bank Financial rating of Thomson Reuters (NYSE:TRI) on 2/10/2023
TU TELUS	C$15.96 -0.3%	2/10/2023		Lower Price Target	C$31.00 ➝ C$30.00		00.00%	View details for National Bank Financial rating of TELUS (NYSE:TU) on 2/10/2023
SLF Sun Life Financial	C$59.29 -0.5%	2/10/2023		Boost Price Target	C$69.00 ➝ C$71.00		00.00%	View details for National Bank Financial rating of Sun Life Financial (NYSE:SLF) on 2/10/2023
TFII TFI International	C$93.67 -1.2%	2/7/2023		Boost Price Target	C$162.00 ➝ C$171.00		00.00%	View details for National Bank Financial rating of TFI International (NYSE:TFII) on 2/7/2023
TRP TC Energy	C$52.31 +0.4%	2/2/2023		Lower Price Target	C$56.00 ➝ C$53.00		00.00%	View details for National Bank Financial rating of TC Energy (NYSE:TRP) on 2/2/2023
GFL GFL Environmental	$47.17 -2.0%	1/31/2023	R. Merer Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating			00.00%	View details for National Bank Financial rating of GFL Environmental (NYSE:GFL) on 1/31/2023
EFXT Enerflex	$10.58 +0.9%	1/31/2023		Downgrade		Outperform ➝ Sector Perform	00.00%	View details for National Bank Financial rating of Enerflex (NYSE:EFXT) on 1/31/2023
FTS Fortis	C$49.37 +0.3%	1/27/2023		Boost Price Target	C$51.00 ➝ C$55.00		00.00%	View details for National Bank Financial rating of Fortis (NYSE:FTS) on 1/27/2023
TRP TC Energy	C$52.31 +0.4%	1/27/2023		Lower Price Target	C$58.00 ➝ C$56.00		00.00%	View details for National Bank Financial rating of TC Energy (NYSE:TRP) on 1/27/2023
ENB Enbridge	C$49.11 +0.6%	1/27/2023		Boost Price Target	C$54.00 ➝ C$56.00		00.00%	View details for National Bank Financial rating of Enbridge (NYSE:ENB) on 1/27/2023
PBA Pembina Pipeline	C$39.24 +0.6%	1/27/2023		Boost Price Target	C$46.00 ➝ C$47.00		00.00%	View details for National Bank Financial rating of Pembina Pipeline (NYSE:PBA) on 1/27/2023
TAC TransAlta	$12.65	1/27/2023		Upgrade		Sector Perform ➝ Outperform	00.00%	View details for National Bank Financial rating of TransAlta (NYSE:TAC) on 1/27/2023
SLF Sun Life Financial	C$59.29 -0.5%	1/25/2023		Boost Price Target	C$66.00 ➝ C$69.00		00.00%	View details for National Bank Financial rating of Sun Life Financial (NYSE:SLF) on 1/25/2023
MFC Manulife Financial	C$31.89 +0.3%	1/25/2023		Boost Price Target	C$24.00 ➝ C$26.00		00.00%	View details for National Bank Financial rating of Manulife Financial (NYSE:MFC) on 1/25/2023
TFPM Triple Flag Precious Metals	$28.64 -0.8%	1/19/2023	S. Nagle Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade			00.00%	View details for National Bank Financial rating of Triple Flag Precious Metals (NYSE:TFPM) on 1/19/2023
AAPL Apple	$234.07 +1.8%	1/20/2023		Lower Price Target	$54.00	Outperform	00.00%	View details for National Bank Financial rating of Apple (NASDAQ:AAPL) on 1/20/2023
IAG Iamgold	C$11.18 +1.2%	1/19/2023		Boost Price Target	C$4.00 ➝ C$4.10		00.00%	View details for National Bank Financial rating of Iamgold (NYSE:IAG) on 1/19/2023
ERO Ero Copper	C$16.93 0.0%	1/19/2023		Boost Price Target	C$20.00 ➝ C$21.00		00.00%	View details for National Bank Financial rating of Ero Copper (NYSE:ERO) on 1/19/2023
EGO Eldorado Gold	$28.11 +1.6%	1/17/2023	M. Parkin Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Downgrade		Outperform ➝ Sector Perform	00.00%	View details for National Bank Financial rating of Eldorado Gold (NYSE:EGO) on 1/17/2023
LAC Lithium Americas	$2.86 +0.7%	1/16/2023		Lower Price Target	$42.50 ➝ $38.50		00.00%	View details for National Bank Financial rating of Lithium Americas (NYSE:LAC) on 1/16/2023
BCE BCE	$24.17 -0.6%	1/12/2023	A. Shine Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Downgrade			00.00%	View details for National Bank Financial rating of BCE (NYSE:BCE) on 1/12/2023
ODV Osisko Development	$3.09 -1.3%	1/13/2023		Boost Price Target	$8.25 ➝ $8.50		00.00%	View details for National Bank Financial rating of Osisko Development (NYSE:ODV) on 1/13/2023
IAUX i-80 Gold	C$0.93 +1.9%	1/13/2023	D. Demarco Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Price Target	C$4.25 ➝ C$5.50		00.00%	View details for National Bank Financial rating of i-80 Gold (NYSE:IAUX) on 1/13/2023
WPM Wheaton Precious Metals	C$106.79 -0.5%	1/13/2023		Boost Price Target	C$60.00 ➝ C$70.00		00.00%	View details for National Bank Financial rating of Wheaton Precious Metals (NYSE:WPM) on 1/13/2023
SAND Sandstorm Gold	C$11.79 +0.4%	1/13/2023	S. Nagle Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Lower Price Target	C$10.50 ➝ C$9.50		00.00%	View details for National Bank Financial rating of Sandstorm Gold (NYSE:SAND) on 1/13/2023
RGLD Royal Gold	C$189.32 +0.1%	1/13/2023		Boost Price Target	C$120.00 ➝ C$150.00		00.00%	View details for National Bank Financial rating of Royal Gold (NASDAQ:RGLD) on 1/13/2023
OR OR Royalties	C$35.96 +0.2%	1/13/2023		Boost Price Target	C$22.00 ➝ C$23.00		00.00%	View details for National Bank Financial rating of OR Royalties (NYSE:OR) on 1/13/2023
FNV Franco-Nevada	C$200.71 -0.6%	1/13/2023	S. Nagle Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Price Target	C$190.00 ➝ C$200.00		00.00%	View details for National Bank Financial rating of Franco-Nevada (NYSE:FNV) on 1/13/2023
FSM Fortuna Mining	C$8.37 -0.8%	1/13/2023		Boost Price Target	C$5.25 ➝ C$6.00		00.00%	View details for National Bank Financial rating of Fortuna Mining (NYSE:FSM) on 1/13/2023
AG First Majestic Silver	C$10.54 +1.4%	1/13/2023		Boost Price Target	C$13.00 ➝ C$14.50		00.00%	View details for National Bank Financial rating of First Majestic Silver (NYSE:AG) on 1/13/2023
SSRM Silver Standard Resources	C$22.39 -1.6%	1/13/2023		Boost Price Target	C$23.00 ➝ C$26.00		00.00%	View details for National Bank Financial rating of Silver Standard Resources (NASDAQ:SSRM) on 1/13/2023
NGD New Gold	C$6.52 -0.2%	1/13/2023		Boost Price Target	C$1.60 ➝ C$1.75		00.00%	View details for National Bank Financial rating of New Gold (NYSE:NGD) on 1/13/2023
IAG Iamgold	C$11.18 +1.2%	1/13/2023		Boost Price Target	C$3.75 ➝ C$4.00		00.00%	View details for National Bank Financial rating of Iamgold (NYSE:IAG) on 1/13/2023
EGO Eldorado Gold	C$28.11 +1.6%	1/13/2023		Boost Price Target	C$13.50 ➝ C$14.00		00.00%	View details for National Bank Financial rating of Eldorado Gold (NYSE:EGO) on 1/13/2023
CGAU Centerra Gold	C$9.23 +0.6%	1/13/2023		Boost Price Target	C$10.50 ➝ C$11.50		00.00%	View details for National Bank Financial rating of Centerra Gold (NYSE:CGAU) on 1/13/2023