National Bank Financial Analyst Recommendations & Stock Picks

Name: Community Performance Rating
Item: National Bank Financial
Rating: 2.8
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	Date	Action	Brokerage	Analyst	Rating	Price Target	Impact on Price
BYD Boyd Group Services	8/10/2022	Downgraded by	National Bank Financial	Analyst Z. Evershed	Outperfrom Under Weight -> Sector Perform Under Weight		N/A
HCG Home Capital Group	8/4/2022	Downgraded by	National Bank Financial	Analyst J. Gloyn	Outperform Market Weight -> Sector Perform Market Weight		N/A
CAS Cascades	8/4/2022	Downgraded by	National Bank Financial	Analyst Z. Evershed	Outperform Overweight -> Sector Perform Overweight		N/A
DPM Dundee Precious Metals	8/1/2022	Upgraded by	National Bank Financial	Analyst D. Demarco	Sector Perform Overweight -> Outperform Overweight		N/A
FRFHF Fairfax Financial	8/2/2022	Target Raised by	National Bank Financial			C$1,050.00 -> C$1,100.00	Low
ENB Enbridge	8/2/2022	Target Raised by	National Bank Financial			C$60.00 -> C$61.00	Low
EGO Eldorado Gold	8/2/2022	Target Raised by	National Bank Financial			C$15.00 -> C$15.50	Low
EQX Equinox Gold	7/28/2022	Downgraded by	National Bank Financial	Analyst M. Parkin	Outperform Spec Overweight -> Sector Perform Spec Overwgt		N/A
NOA North American Construction Group	7/29/2022	Target Lowered by	National Bank Financial			C$20.00	Low
LUNMF Lundin Mining	7/29/2022	Target Lowered by	National Bank Financial			C$9.50 -> C$9.00	Low
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EQX Equinox Gold	7/29/2022	Downgraded by	National Bank Financial	Analyst M. Parkin	Outperform -> Sector Perform		N/A
CP Canadian Pacific Railway	7/29/2022	Target Raised by	National Bank Financial			C$93.00 -> C$98.00	Low
AETUF ARC Resources	7/29/2022	Target Lowered by	National Bank Financial			C$27.00 -> C$26.00	Low
TECK Teck Resources	7/28/2022	Target Lowered by	National Bank Financial			C$55.00 -> C$52.50	Low
CPG Crescent Point Energy	7/28/2022	Target Lowered by	National Bank Financial			C$21.00 -> C$20.00	Low
INGXF Innergex Renewable Energy	7/28/2022	Target Raised by	National Bank Financial			C$23.00 -> C$24.00	Low
NGT Newmont	7/26/2022	Upgraded by	National Bank Financial	Analyst M. Parkin	Sector Perform Overweight -> Outperform Overweight		N/A
CNI Canadian National Railway	7/27/2022	Target Raised by	National Bank Financial			C$160.00 -> C$166.00	Low
NEM Newmont	7/27/2022	Upgraded by	National Bank Financial	Analyst M. Parkin	Sector Perform -> Outperform		Low
FNV Franco-Nevada	7/20/2022	Reiterated by	National Bank Financial	Analyst S. Nagle	Sector Perform Market Weight		N/A
FNV Franco-Nevada	7/20/2022	Reiterated by	National Bank Financial	Analyst S. Nagle	Sector Perform Market Weight		Low
ODV Osisko Development	7/21/2022	Target Lowered by	National Bank Financial	Analyst D. Demarco		C$15.00 -> C$10.25	Low
MAG MAG Silver	7/21/2022	Target Lowered by	National Bank Financial			C$28.25 -> C$23.50	N/A
ITRG Integra Resources	7/21/2022	Target Lowered by	National Bank Financial			C$3.00 -> C$1.25	N/A
WPM Wheaton Precious Metals	7/21/2022	Target Lowered by	National Bank Financial			C$75.00 -> C$70.00	Low
RGLD Royal Gold	7/21/2022	Target Lowered by	National Bank Financial			$165.00 -> $150.00	Low
OR Osisko Gold Royalties	7/21/2022	Target Lowered by	National Bank Financial			C$22.00 -> C$20.00	Low
FNV Franco-Nevada	7/21/2022	Target Lowered by	National Bank Financial			C$225.00 -> C$205.00	Low
PAAS Pan American Silver	7/21/2022	Target Lowered by	National Bank Financial			C$44.75 -> C$39.00	Low
FSM Fortuna Silver Mines	7/21/2022	Target Lowered by	National Bank Financial			C$6.50 -> C$4.50	Low
AG First Majestic Silver	7/21/2022	Target Lowered by	National Bank Financial			C$18.00 -> C$11.75	Low
SSRM SSR Mining	7/21/2022	Target Lowered by	National Bank Financial	Analyst M. Parkin		C$32.50 -> C$27.50	Low
NGD New Gold	7/21/2022	Target Lowered by	National Bank Financial			C$1.50 -> C$1.20	N/A
IAG IAMGOLD	7/21/2022	Target Lowered by	National Bank Financial			C$3.25 -> C$2.25	Low
EGO Eldorado Gold	7/21/2022	Target Lowered by	National Bank Financial			C$19.00 -> C$15.00	Low
CGAU Centerra Gold	7/21/2022	Target Lowered by	National Bank Financial			C$15.00 -> C$14.00	Low
AGI Alamos Gold	7/21/2022	Target Lowered by	National Bank Financial			C$13.00 -> C$12.50	Low
NEM Newmont	7/21/2022	Target Lowered by	National Bank Financial			C$115.00 -> C$90.00	Low
KGC Kinross Gold	7/21/2022	Target Lowered by	National Bank Financial			C$13.00 -> C$9.25	Low
BTG B2Gold	7/21/2022	Target Lowered by	National Bank Financial			C$8.50 -> C$8.00	N/A
GOLD Barrick Gold	7/21/2022	Target Lowered by	National Bank Financial			C$34.00 -> C$26.00	Low
AEM Agnico Eagle Mines	7/21/2022	Target Lowered by	National Bank Financial	Analyst M. Parkin		C$98.00 -> C$75.00	Low
TCN Tricon Residential	7/20/2022	Target Lowered by	National Bank Financial			C$21.00 -> C$17.00	Low
IIPZF InterRent Real Estate Investment Trust	7/20/2022	Target Lowered by	National Bank Financial			C$17.00 -> C$13.25	Low
BOWFF Boardwalk Real Estate Investment Trust	7/20/2022	Target Lowered by	National Bank Financial			C$68.50 -> C$52.00	Low
CWYUF SmartCentres Real Estate Investment Trust	7/20/2022	Target Lowered by	National Bank Financial			C$34.00 -> C$29.00	Low
NG NovaGold Resources	7/20/2022	Initiated by	National Bank Financial		Outperform		N/A
MTL Mullen Group	7/18/2022	Reiterated by	National Bank Financial	Analyst M. Robertson	Outperform Market Weight		N/A
HBM Hudbay Minerals	7/18/2022	Downgraded by	National Bank Financial	Analyst S. Nagle	Outperform -> Sector Perform		N/A
SLF Sun Life Financial	7/19/2022	Target Lowered by	National Bank Financial	Analyst G. Dechaine		C$68.00 -> C$67.00	Low

MFC Manulife Financial	7/19/2022	Target Lowered by	National Bank Financial			C$26.00 -> C$25.00	Low
TREVF Trevali Mining	7/19/2022	Target Lowered by	National Bank Financial			C$0.65 -> C$0.55	Low
TGB Taseko Mines	7/19/2022	Target Lowered by	National Bank Financial			C$1.85 -> C$1.75	N/A
FQVLF First Quantum Minerals	7/19/2022	Target Lowered by	National Bank Financial			C$35.00 -> C$32.50	Low
HBM Hudbay Minerals	7/19/2022	Downgraded by	National Bank Financial	Analyst S. Nagle	Outperform -> Sector Perform		Low
CPPMF Copper Mountain Mining	7/19/2022	Downgraded by	National Bank Financial		Outperform -> Sector Perform		Low
VET Vermilion Energy	7/18/2022	Target Lowered by	National Bank Financial			C$52.00 -> C$48.00	Low
PRMRF Paramount Resources	7/18/2022	Target Lowered by	National Bank Financial			C$50.00 -> C$45.00	Low
CPG Crescent Point Energy	7/18/2022	Target Lowered by	National Bank Financial			C$23.00 -> C$21.00	Low
BIREF Birchcliff Energy	7/18/2022	Target Lowered by	National Bank Financial			C$15.00 -> C$13.50	Low
AETUF ARC Resources	7/18/2022	Target Lowered by	National Bank Financial			C$32.00 -> C$27.00	Low
AAVVF Advantage Energy	7/18/2022	Target Lowered by	National Bank Financial			C$18.00 -> C$15.00	Low
SU Suncor Energy	7/18/2022	Target Lowered by	National Bank Financial			C$73.00 -> C$64.00	Low
IMO Imperial Oil	7/18/2022	Target Lowered by	National Bank Financial			C$93.00 -> C$86.00	N/A
CVE Cenovus Energy	7/18/2022	Target Lowered by	National Bank Financial			C$41.00 -> C$38.00	Low
CNQ Canadian Natural Resources	7/18/2022	Target Lowered by	National Bank Financial			C$115.00 -> C$100.00	Low
CCA Cogeco Communications	7/14/2022	Downgraded by	National Bank Financial	Analyst A. Shine	Outperform Market Weight -> Sector Perform Market Weight		N/A
THTX Theratechnologies	7/15/2022	Target Lowered by	National Bank Financial			C$3.75 -> C$3.25	Low
TIH Toromont Industries	7/12/2022	Downgraded by	National Bank Financial	Analyst M. Sytchev	Outperform Overweight -> Sector Perform Overweight		N/A
NOA North American Construction Group	7/13/2022	Target Lowered by	National Bank Financial			C$22.00	Low
RCI Rogers Communications	7/13/2022	Target Lowered by	National Bank Financial			C$83.00 -> C$80.00	Low
TFII TFI International	7/13/2022	Target Lowered by	National Bank Financial	Analyst C. Doerksen		C$146.00 -> C$140.00	Low
AND Andlauer Healthcare Group	7/11/2022	Upgraded by	National Bank Financial	Analyst E. Leno	Sector Perform Market Weight -> Outperform Market Weight		N/A
RBA Ritchie Bros. Auctioneers	7/12/2022	Downgraded by	National Bank Financial		Sector Perform -> Underperform	$56.00	N/A
NGD New Gold	7/12/2022	Target Lowered by	National Bank Financial			C$2.50 -> C$1.50	N/A
GIL Gildan Activewear	7/12/2022	Target Lowered by	National Bank Financial			C$64.00 -> C$42.00	Low
ACDVF Air Canada	7/7/2022	Target Lowered by	National Bank Financial			C$31.00 -> C$30.00	N/A
CEU CES Energy Solutions	7/4/2022	Upgraded by	National Bank Financial	Analyst M. Robertson	Sector Perform Overweight -> Outperform Overweight		N/A
OFSTF Carbon Streaming	7/6/2022	Initiated by	National Bank Financial		Outperform		N/A
CJREF Corus Entertainment	6/30/2022	Target Lowered by	National Bank Financial			C$6.25 -> C$5.00	Low
SGML Sigma Lithium	6/23/2022	Target Raised by	National Bank Financial			C$26.00 -> C$27.00	Low
VET Vermilion Energy	6/16/2022	Target Lowered by	National Bank Financial			C$53.00 -> C$52.00	Low
PRMRF Paramount Resources	6/16/2022	Target Raised by	National Bank Financial	Analyst Dan Payne		C$45.00 -> C$50.00	Medium
OVV Ovintiv	6/16/2022	Target Raised by	National Bank Financial			$90.00 -> $115.00	Medium
ERF Enerplus	6/16/2022	Target Raised by	National Bank Financial			$24.00 -> $29.00	Low
CPG Crescent Point Energy	6/16/2022	Target Raised by	National Bank Financial			C$20.00 -> C$23.00	Low
BTEGF Baytex Energy	6/16/2022	Target Raised by	National Bank Financial			C$9.50 -> C$10.50	Low
BIREF Birchcliff Energy	6/16/2022	Target Raised by	National Bank Financial			C$12.50 -> C$15.00	Low
AETUF ARC Resources	6/16/2022	Target Raised by	National Bank Financial			C$24.00 -> C$32.00	Low
AAVVF Advantage Energy	6/16/2022	Target Raised by	National Bank Financial	Analyst Dan Payne		C$12.50 -> C$15.00	Low
SU Suncor Energy	6/16/2022	Target Raised by	National Bank Financial			C$54.00 -> C$73.00	Medium
IMO Imperial Oil	6/16/2022	Target Raised by	National Bank Financial			C$80.00 -> C$93.00	N/A
CVE Cenovus Energy	6/16/2022	Target Raised by	National Bank Financial			C$35.00 -> C$41.00	High
CNQ Canadian Natural Resources	6/16/2022	Target Raised by	National Bank Financial			C$100.00 -> C$115.00	Low
GSV Gold Standard Ventures	6/15/2022	Target Lowered by	National Bank Financial	Analyst R. Nizami		C$1.30 -> C$0.55	N/A
FIL Filo Mining	6/12/2022	Reiterated by	National Bank Financial	Analyst R. Nizami	Outperform Spec Overweight		N/A
TMQ Trilogy Metals	6/12/2022	Reiterated by	National Bank Financial	Analyst R. Nizami	Sector Perform Spec Overwgt		N/A
TMQ Trilogy Metals	6/12/2022	Reiterated by	National Bank Financial	Analyst R. Nizami	Sector Perform Spec Overwgt		N/A
FOM Foran Mining	6/12/2022	Reiterated by	National Bank Financial	Analyst R. Nizami	Outperform Spec Overweight		N/A
TMQ Trilogy Metals	6/13/2022	Target Lowered by	National Bank Financial	Analyst S. Nagle		C$2.50 -> C$1.75	N/A
BOS AirBoss of America	6/9/2022	Reiterated by	National Bank Financial	Analyst M. Robertson	Outperform Market Weight		N/A
ODV Osisko Development	6/3/2022	Reiterated by	National Bank Financial	Analyst D. Demarco	Outperform Overweight		High
ODV Osisko Development	6/6/2022	Target Lowered by	National Bank Financial			C$27.00 -> C$15.00	Low
AUY Yamana Gold	6/1/2022	Downgraded by	National Bank Financial		Outperform		High
SLF Sun Life Financial	6/1/2022	Target Lowered by	National Bank Financial	Analyst G. Dechaine		C$72.00 -> C$68.00	Low
TD Toronto-Dominion Bank	5/27/2022	Target Raised by	National Bank Financial	Analyst G. Dechaine		C$100.00 -> C$102.00	Low
RY Royal Bank of Canada	5/27/2022	Target Raised by	National Bank Financial	Analyst Gabriel Dechaine		C$147.00 -> C$148.00	Low
BNS Bank of Nova Scotia	5/26/2022	Target Raised by	National Bank Financial			C$90.00 -> C$91.00	Medium
SJR Shaw Communications	5/18/2022	Upgraded by	National Bank Financial	Analyst A. Shine	Sector Perform -> Outperform		Low
CWB Canadian Western Bank	5/15/2022	Upgraded by	National Bank Financial	Analyst G. Dechaine	Sector Perform Market Weight -> Outperform Market Weight		N/A
XBC Xebec Adsorption	5/12/2022	Downgraded by	National Bank Financial	Analyst R. Merer	Outperform Spec Overweight -> Sector Perform Overweight		N/A
BYD Boyd Group Services	5/11/2022	Upgraded by	National Bank Financial	Analyst Z. Evershed	Sector Perform Under Weight -> Outperfrom Under Weight		N/A
SLF Sun Life Financial	5/12/2022	Target Lowered by	National Bank Financial	Analyst G. Dechaine		C$76.00 -> C$72.00	Low
MFC Manulife Financial	5/12/2022	Target Lowered by	National Bank Financial	Analyst Gabriel Dechaine		C$28.00 -> C$26.00	Low
HBM Hudbay Minerals	5/11/2022	Target Lowered by	National Bank Financial			C$12.50 -> C$11.50	Low
AEM Agnico Eagle Mines	5/11/2022	Target Lowered by	National Bank Financial	Analyst M. Parkin		C$99.00 -> C$98.00	Low
ANRGF Anaergia	5/10/2022	Target Lowered by	National Bank Financial	Analyst Rupert Merer		C$17.00 -> C$14.00	Low
SSRM SSR Mining	5/10/2022	Target Lowered by	National Bank Financial	Analyst M. Parkin		C$33.00 -> C$32.50	Low
CHR Chorus Aviation	5/6/2022	Upgraded by	National Bank Financial	Analyst C. Doerksen	Sector Perform Market Weight -> Outperform Market Weight		N/A
DPMLF Dundee Precious Metals	5/9/2022	Target Raised by	National Bank Financial			C$10.00 -> C$10.50	Low
TAC TransAlta	5/9/2022	Target Raised by	National Bank Financial			C$14.00 -> C$15.00	Low
PBA Pembina Pipeline	5/9/2022	Target Raised by	National Bank Financial			C$45.00 -> C$48.00	Low
ENB Enbridge	5/9/2022	Target Raised by	National Bank Financial			C$57.00 -> C$60.00	Low
ACQ AutoCanada	5/5/2022	Downgraded by	National Bank Financial	Analyst M. Sytchev	Outperform Market Weight -> Sector Perform Market Weight		N/A
TGB Taseko Mines	5/6/2022	Target Lowered by	National Bank Financial			C$3.25 -> C$3.00	N/A
LUNMF Lundin Mining	5/6/2022	Target Raised by	National Bank Financial	Analyst Shane Nagle		C$13.50 -> C$14.00	Medium
FTS Fortis	5/6/2022	Target Raised by	National Bank Financial			C$59.00 -> C$60.00	Low
IMO Imperial Oil	5/5/2022	Target Raised by	National Bank Financial			C$78.00 -> C$80.00	N/A
IAG IAMGOLD	5/5/2022	Downgraded by	National Bank Financial		Outperform -> Sector Perform		Medium
FPLSF 5N Plus	5/5/2022	Downgraded by	National Bank Financial	Analyst Rupert Merer	Outperform -> Sector Perform		High
AQN Algonquin Power & Utilities	5/3/2022	Downgraded by	National Bank Financial	Analyst R. Merer	Outperfrom Under Weight -> Sector Perform Under Weight		N/A
AQN Algonquin Power & Utilities	5/4/2022	Downgraded by	National Bank Financial	Analyst Rupert Merer	Outperform -> Sector Perform	$16.00	Low
NFI NFI Group	4/29/2022	Downgraded by	National Bank Financial	Analyst C. Doerksen	Outperform Overweight -> Sector Perform Overweight		N/A
GSV Gold Standard Ventures	4/28/2022	Reiterated by	National Bank Financial	Analyst R. Nizami	Outperform Spec Overweight		N/A
GSV Gold Standard Ventures	4/28/2022	Reiterated by	National Bank Financial	Analyst R. Nizami	Outperform Spec Overweight		N/A
FRFHF Fairfax Financial	4/29/2022	Target Raised by	National Bank Financial	Analyst Jaeme Gloyn		C$1,000.00 -> C$1,050.00	Low
BTEGF Baytex Energy	4/29/2022	Target Raised by	National Bank Financial	Analyst Dan Payne		C$8.75 -> C$9.50	Medium
AGI Alamos Gold	4/29/2022	Upgraded by	National Bank Financial		Sector Perform -> Outperform		High
CTS Converge Technology Solutions	4/26/2022	Reiterated by	National Bank Financial	Analyst J. Shao	Outperfrom Under Weight		N/A
CTS Converge Technology Solutions	4/26/2022	Reiterated by	National Bank Financial	Analyst J. Shao	Outperfrom Under Weight		N/A
IIPZF InterRent Real Estate Investment Trust	4/27/2022	Target Lowered by	National Bank Financial			C$19.00 -> C$17.00	Low
BOWFF Boardwalk Real Estate Investment Trust	4/27/2022	Target Raised by	National Bank Financial	Analyst Matt Kornack		C$67.00 -> C$68.50	Low
NESR National Energy Services Reunited	4/24/2022	Downgraded by	National Bank Financial		Outperform -> Sector Perform	$13.50 -> $11.00	High
GFL GFL Environmental	4/22/2022	Target Lowered by	National Bank Financial	Analyst Rupert Merer		C$55.00 -> C$53.00	Medium
MAI Minera Alamos	4/19/2022	Reiterated by	National Bank Financial	Analyst J. Egilo	Outperform Overweight		N/A
DPMLF Dundee Precious Metals	4/20/2022	Target Lowered by	National Bank Financial			C$10.25 -> C$10.00	Low
MAG MAG Silver	4/20/2022	Target Lowered by	National Bank Financial			C$30.00 -> C$28.25	N/A
GSV Gold Standard Ventures	4/20/2022	Target Lowered by	National Bank Financial			C$1.30	N/A
WPM Wheaton Precious Metals	4/20/2022	Target Raised by	National Bank Financial			C$68.00 -> C$75.00	Low
SAND Sandstorm Gold	4/20/2022	Target Raised by	National Bank Financial			C$10.00 -> C$12.50	Low
RGLD Royal Gold	4/20/2022	Target Raised by	National Bank Financial			C$140.00 -> C$165.00	Low
OR Osisko Gold Royalties	4/20/2022	Target Raised by	National Bank Financial			C$20.00 -> C$22.00	Low
MMX Maverix Metals	4/20/2022	Target Raised by	National Bank Financial			C$6.75 -> C$7.00	Medium
FNV Franco-Nevada	4/20/2022	Target Raised by	National Bank Financial			C$210.00 -> C$225.00	Low
PAAS Pan American Silver	4/20/2022	Target Raised by	National Bank Financial			C$41.00 -> C$47.00	Low
FSM Fortuna Silver Mines	4/20/2022	Target Raised by	National Bank Financial	Analyst John Sclodnick		C$5.50 -> C$6.50	Low
AG First Majestic Silver	4/20/2022	Target Raised by	National Bank Financial			C$17.00 -> C$18.00	Low
AUY Yamana Gold	4/20/2022	Target Raised by	National Bank Financial	Analyst Mike Parkin		C$8.75 -> C$9.25	Low
SSRM SSR Mining	4/20/2022	Target Raised by	National Bank Financial	Analyst M. Parkin		C$30.00 -> C$33.00	Low
NGD New Gold	4/20/2022	Target Lowered by	National Bank Financial	Analyst M. Parkin		C$2.75 -> C$2.50	N/A
IAG IAMGOLD	4/20/2022	Target Raised by	National Bank Financial			C$5.00 -> C$5.50	Low
EQX Equinox Gold	4/20/2022	Target Raised by	National Bank Financial	Analyst John Sclodnick		C$13.00 -> C$14.00	N/A
EGO Eldorado Gold	4/20/2022	Target Raised by	National Bank Financial			C$18.00 -> C$20.00	Low
CGAU Centerra Gold	4/20/2022	Target Raised by	National Bank Financial	Analyst Mike Parkin		C$14.50 -> C$16.00	Low
AGI Alamos Gold	4/20/2022	Target Raised by	National Bank Financial	Analyst M. Parkin		C$11.00 -> C$13.00	Low
KGC Kinross Gold	4/20/2022	Target Raised by	National Bank Financial			C$11.00 -> C$12.00	Low
BTG B2Gold	4/20/2022	Target Raised by	National Bank Financial			C$7.75 -> C$8.50	N/A
GOLD Barrick Gold	4/20/2022	Target Raised by	National Bank Financial			C$29.00 -> C$38.00	Low
AEM Agnico Eagle Mines	4/20/2022	Target Raised by	National Bank Financial	Analyst M. Parkin		C$94.00 -> C$99.00	Low
SLF Sun Life Financial	4/20/2022	Target Lowered by	National Bank Financial	Analyst G. Dechaine		C$77.00 -> C$76.00	Low
NEM Newmont	4/20/2022	Downgraded by	National Bank Financial		Outperform -> Sector Perform	$94.28	Low
CS Capstone Copper	4/18/2022	Downgraded by	National Bank Financial	Analyst S. Nagle	Outperform Spec Overweight -> Sector Perform Spec Overwgt		N/A
TREVF Trevali Mining	4/19/2022	Target Lowered by	National Bank Financial	Analyst Shane Nagle		C$2.20 -> C$1.90	Low
TECK Teck Resources	4/19/2022	Target Raised by	National Bank Financial			C$60.00 -> C$65.00	Low
HBM Hudbay Minerals	4/19/2022	Target Lowered by	National Bank Financial			C$13.00 -> C$12.50	Low
CPPMF Copper Mountain Mining	4/19/2022	Target Lowered by	National Bank Financial			C$4.75 -> C$4.50	Low
TFII TFI International	4/19/2022	Target Lowered by	National Bank Financial	Analyst C. Doerksen		C$160.00 -> C$142.00	Low
SLS Solaris Resources	4/13/2022	Reiterated by	National Bank Financial	Analyst S. Nagle	Outperform Spec Overweight		N/A
LGD Liberty Gold	4/14/2022	Reiterated by	National Bank Financial	Analyst R. Nizami	Outperform Spec Overweight		N/A
VET Vermilion Energy	4/14/2022	Target Raised by	National Bank Financial	Analyst T. Wood		C$34.00 -> C$53.00	Low
PRMRF Paramount Resources	4/14/2022	Target Raised by	National Bank Financial	Analyst Dan Payne		C$35.00 -> C$45.00	Low
CPG Crescent Point Energy	4/14/2022	Target Raised by	National Bank Financial			C$15.50 -> C$20.00	Low
BIREF Birchcliff Energy	4/14/2022	Target Raised by	National Bank Financial			C$11.00 -> C$12.50	Low
AETUF ARC Resources	4/14/2022	Target Raised by	National Bank Financial			C$21.00 -> C$24.00	High
AAVVF Advantage Energy	4/14/2022	Target Raised by	National Bank Financial	Analyst Dan Payne		C$11.00 -> C$12.50	Low
SU Suncor Energy	4/14/2022	Target Raised by	National Bank Financial			C$52.00 -> C$54.00	Low
IMO Imperial Oil	4/14/2022	Target Raised by	National Bank Financial			C$70.00 -> C$78.00	N/A
CVE Cenovus Energy	4/14/2022	Target Raised by	National Bank Financial			C$28.00 -> C$35.00	Low
CNQ Canadian Natural Resources	4/14/2022	Target Raised by	National Bank Financial			C$90.00 -> C$100.00	Low
SJR Shaw Communications	4/14/2022	Downgraded by	National Bank Financial	Analyst A. Shine	Outperform -> Sector Perform		Medium
BTEGF Baytex Energy	4/14/2022	Upgraded by	National Bank Financial	Analyst Dan Payne	Sector Perform -> Outperform		High
TREVF Trevali Mining	4/8/2022	Target Raised by	National Bank Financial	Analyst Shane Nagle		C$2.00 -> C$2.20	Low
TECK Teck Resources	4/8/2022	Target Raised by	National Bank Financial			C$55.00 -> C$60.00	Low
TGB Taseko Mines	4/8/2022	Target Raised by	National Bank Financial			C$3.00 -> C$3.25	N/A
LUNMF Lundin Mining	4/8/2022	Target Raised by	National Bank Financial	Analyst Shane Nagle		C$12.25 -> C$14.00	Low
HBM Hudbay Minerals	4/8/2022	Target Raised by	National Bank Financial			C$12.50 -> C$13.00	Low
FQVLF First Quantum Minerals	4/8/2022	Target Raised by	National Bank Financial			C$40.00 -> C$48.00	Low
CNI Canadian National Railway	4/8/2022	Target Lowered by	National Bank Financial	Analyst Cameron Doerksen		C$172.00 -> C$168.00	Low
PVT Pivotree	3/31/2022	Reiterated by	National Bank Financial	Analyst J. Shao	Outperfrom Under Weight		N/A
XBC Xebec Adsorption	3/30/2022	Upgraded by	National Bank Financial	Analyst R. Merer	Sector Perform Spec Overwgt -> Outperform Spec Overweight		N/A
SBB Sabina Gold & Silver	3/30/2022	Reiterated by	National Bank Financial	Analyst D. Demarco	Outperform Overweight		N/A
RCI Rogers Communications	3/31/2022	Target Raised by	National Bank Financial	Analyst Adam Shine		C$74.00 -> C$77.00	Low
GIL Gildan Activewear	3/30/2022	Target Lowered by	National Bank Financial			C$65.00 -> C$64.00	Medium
DOO BRP	3/28/2022	Target Raised by	National Bank Financial	Analyst C. Doerksen	Outperform	C$124.00 -> C$136.00	N/A
FSM Fortuna Silver Mines	3/28/2022	Target Lowered by	National Bank Financial	Analyst John Sclodnick		C$5.75 -> C$5.50	Low
DOOO BRP	3/28/2022	Target Raised by	National Bank Financial	Analyst C. Doerksen		C$124.00 -> C$136.00	Low
SIS Savaria	3/25/2022	Target Lowered by	National Bank Financial		Outperform	C$24.50 -> C$23.50	N/A
GUD Knight Therapeutics	3/25/2022	Target Lowered by	National Bank Financial		Outperform	C$8.00 -> C$7.50	N/A
CJREF Corus Entertainment	3/23/2022	Target Lowered by	National Bank Financial			C$8.00 -> C$6.50	Low
KBL K-Bro Linen	3/11/2022	Reiterated by	National Bank Financial	Analyst E. Leno	Sector Perform Under Weight		N/A
BLDP Ballard Power Systems	3/14/2022	Reiterated by	National Bank Financial	Analyst R. Merer	Outperform Spec Overweight		High
NESR National Energy Services Reunited	3/16/2022	Target Lowered by	National Bank Financial		Outperform	$17.50 -> $13.50	Low
BBU Brookfield Business Partners	3/16/2022	Target Lowered by	National Bank Financial		Outperform	$68.00 -> $39.00	Medium
SSRM SSR Mining	3/16/2022	Downgraded by	National Bank Financial	Analyst M. Parkin	Outperform -> Sector Perform		High
BLDP Ballard Power Systems	3/15/2022	Target Lowered by	National Bank Financial		Outperform	$20.00 -> $14.00	Medium
IAG IAMGOLD	3/11/2022	Target Raised by	National Bank Financial			C$4.50 -> C$5.00	Low
FNV Franco-Nevada	3/11/2022	Target Raised by	National Bank Financial			C$195.00 -> C$210.00	Low
ANRGF Anaergia	3/9/2022	Target Lowered by	National Bank Financial	Analyst Rupert Merer		C$22.00 -> C$20.00	High
TD Toronto-Dominion Bank	3/6/2022	Downgraded by	National Bank Financial	Analyst G. Dechaine	Outperform Market Weight -> Sector Perform Market Weight		N/A
BMO Bank of Montreal	3/6/2022	Downgraded by	National Bank Financial	Analyst G. Dechaine	Outperform -> Sector Perform		N/A
AQN Algonquin Power & Utilities	3/7/2022	Target Raised by	National Bank Financial		Outperform	$15.50 -> $16.00	Low
BMO Bank of Montreal	3/7/2022	Downgraded by	National Bank Financial	Analyst G. Dechaine	Outperform -> Sector Perform		Medium
TD Toronto-Dominion Bank	3/7/2022	Downgraded by	National Bank Financial	Analyst G. Dechaine	Outperform -> Sector Perform		Medium
PBA Pembina Pipeline	3/3/2022	Target Raised by	National Bank Financial	Analyst Patrick Kenny		C$44.00 -> C$45.00	Low
CGAU Centerra Gold	3/3/2022	Target Raised by	National Bank Financial	Analyst Mike Parkin		C$14.00 -> C$14.50	Low
DOOO BRP	3/3/2022	Target Lowered by	National Bank Financial	Analyst C. Doerksen		C$128.00 -> C$124.00	Medium
AEM Agnico Eagle Mines	3/3/2022	Target Lowered by	National Bank Financial	Analyst M. Parkin		C$84.00 -> C$83.00	Low
AGI Alamos Gold	3/3/2022	Target Raised by	National Bank Financial	Analyst M. Parkin		C$10.50 -> C$11.00	Medium
ARE Aecon Group	3/1/2022	Downgraded by	National Bank Financial	Analyst M. Sytchev	Outperform Overweight -> Sector Perform Overweight		N/A
BNS Bank of Nova Scotia	3/2/2022	Target Raised by	National Bank Financial			C$90.00 -> C$91.00	Low
WSP WSP Global	2/27/2022	Upgraded by	National Bank Financial	Analyst M. Sytchev	Sector Perform Overweight -> Outperform Overweight		N/A
NTIOF National Bank of Canada	2/28/2022	Target Raised by	National Bank Financial			C$109.00 -> C$110.00	Low
TMQ Trilogy Metals	2/23/2022	Reiterated by	National Bank Financial	Analyst S. Nagle	Sector Perform Spec Overwgt		N/A
DRTT DIRTT Environmental Solutions	2/25/2022	Target Lowered by	National Bank Financial		Sector Perform	$3.25 -> $2.75	Low
STN Stantec	2/23/2022	Upgraded by	National Bank Financial	Analyst M. Sytchev	Sector Perform Overweight -> Outperform Overweight		N/A
TMQ Trilogy Metals	2/24/2022	Reiterated by	National Bank Financial	Analyst S. Nagle	Outperform -> Sector Perform Overweight		N/A
STN Stantec	2/24/2022	Upgraded by	National Bank Financial	Analyst M. Sytchev	Sector Perform -> Outperform		Medium
ABX Barrick Gold	2/23/2022	Target Lowered by	National Bank Financial	Analyst M. Parkin	Sector Perform	C$29.00	N/A
DPM Dundee Precious Metals	2/18/2022	Downgraded by	National Bank Financial	Analyst D. Demarco	Outperform Overweight -> Sector Perform Overweight		N/A
RBA Ritchie Bros. Auctioneers	2/22/2022	Target Lowered by	National Bank Financial		Sector Perform	$68.00 -> $55.00	Medium
SAND Sandstorm Gold	2/18/2022	Target Raised by	National Bank Financial			C$9.50 -> C$10.00	Medium
SHOP Shopify	2/17/2022	Target Lowered by	National Bank Financial		Outperform	$200.00 -> $150.00	Low
TRP TC Energy	2/17/2022	Target Raised by	National Bank Financial	Analyst P. Kenny		C$65.00 -> C$66.00	Medium
ATD Alimentation Couche-Tard	2/14/2022	Downgraded by	National Bank Financial	Analyst V. Shreedhar	Outperform Market Weight -> Sector Perform Market Weight		N/A
KGC Kinross Gold	2/15/2022	Target Lowered by	National Bank Financial			C$13.50 -> C$12.50	Low
SAP Saputo	2/11/2022	Upgraded by	National Bank Financial	Analyst V. Shreedhar	Sector Perform Market Weight -> Outperform Market Weight		N/A
CNSWF Constellation Software	2/14/2022	Target Raised by	National Bank Financial			C$2,100.00 -> C$2,350.00	Medium
CAE CAE	2/14/2022	Target Lowered by	National Bank Financial			C$45.00 -> C$44.00	Low
ENB Enbridge	2/14/2022	Target Raised by	National Bank Financial	Analyst Patrick Kenny		C$56.00 -> C$57.00	Medium
S Sherritt International	2/10/2022	Reiterated by	National Bank Financial	Analyst S. Nagle	Sector Perform Spec Overwgt		N/A

MarketBeat Community Rating for National Bank Financial

Community Ranking:		2.8 out of 5 ( 2.8 of 5 stars)
Outperform Votes:		17,758 (Vote Outperform)
Underperform Votes:		14,144 (Vote Underperform)
Total Votes:		31,902

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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