Canadian Analyst Updates: February 3rd, 2026

STA Research
February 4th, 2026
Canadian Analyst Updates: February 3rd, 2026
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Analyst Ratings (Canada)

The following are today’s 90 entries of the latest analyst ratings tracked for Canadian-listed and Canadian-traded stocks, with several brokerages adjusting their outlooks and target prices in response to company-specific developments, earnings expectations, commodity fluctuations, and broader sector trends:

5N Plus Inc. (VNP:CA): ATB Capital reiterated its Top Pick rating but lowered its price target to $37.50 from $42.00, reflecting revised assumptions.

5N Plus Inc. (VNP:CA): Ventum Financial reiterated a Buy rating and raised its price target to $30.00 from $26.00, reflecting improved outlook.

AG Growth International Inc. (AFN:CA): CIBC maintained a Neutral rating with a $34.00 price target, reflecting balanced risk-reward.

Agnico Eagle Mines Ltd. (AEM:CA): CIBC raised its price target to $404.00 and reiterated an Outperformer rating, citing strength in gold fundamentals.

Alamos Gold Inc. (AGI:CA): Scotiabank maintained an Outperform rating with a $75.00 target, reflecting steady operating performance.

Alamos Gold Inc. (AGI:CA): CIBC maintained an Outperform rating with an $80.00 target, reflectng strong margins.

Alamos Gold Inc. (AGI:CA): CIBC raised its target to C$80.00 from C$74.00 and reiterated Outperformer, reflecting improved estimates.

ARC Resources Ltd. (ARX:CA): National Bank reiterated an Outperform rating but trimmed its price target to $28.00 from $29.00.

AtkinsRéalis Group Inc. (ATRL:CA): JPMorgan reiterated an Overweight rating with a $135.00 price target.

Aya Gold & Silver Inc. (AYA:CA): CIBC raised its price target to C$35.00 from C$30.00 and reiterated Outperformer, reflecting operational momentum.

B2Gold Corp. (BTO:CA): CIBC raised its price target to $9.00 while maintaining a Neutral rating.

Barrick Gold Corp. (ABX:CA): CIBC raised its target to $97.00 and reiterated an Outperformer rating.

Baytex Energy Corp. (BTE:CA): TD Securities maintained a Hold rating with a $5.00 target.

Baytex Energy Corp. (BTE:CA): Scotiabank maintained an Outperform rating with a $5.50 target.

Bombardier Inc. (BBD.B:CA): TD Securities reiterated a Hold rating and lowered its price target to $276.00 from $278.00.

Brookfield Business Partners LP (BBU-UN:CA): National Bank reiterated an Outperform rating and raised its target to $60.00 from $58.50.

Brookfield Corp. (BN:CA): TD Securities maintained a Buy rating with an $80.50 price target.

Canadian Natural Resources Ltd. (CNQ:CA): National Bank reiterated a Sector Perform rating and raised its target to $54.00 from $47.00.

Capstone Copper Corp. (CS:CA): CIBC raised its price target to C$20.00 from C$16.00 and reiterated Outperform rating.

Cenovus Energy Inc. (CVE:CA): National Bank reiterated an Outperform rating and raised its target to $34.00 from $29.00.

Centerra Gold Inc. (CG:CA): CIBC raised its price target to C$37.00 from C$30.00 and reiterated Outperformer.

Cineplex Inc. (CGX:CA): RBC Capital reiterated an Outperform rating but lowered its target to $13.00 from $14.00.

Colliers International Group Inc. (CIGI:CA): CIBC maintained an Outperform rating with a $248.00 price target.

Denison Mines Corp. (DML:CA): CIBC raised its target to C$6.50 from C$3.75 and reiterated Outperformer.

Discovery Silver Corp. (DSV:CA): CIBC raised its price target to C$15.00 from C$12.50 and reiterated Outperformer.

Dundee Precious Metals Inc. (DPM:CA): CIBC raised its target to C$58.00 from C$44.00 while maintaining a Neutral rating.

Eldorado Gold Corp. (ELD:CA): ATB Capital reiterated an Outperform rating but lowered its target to $89.00 from $100.00.

Eldorado Gold Corp. (ELD:CA): Canaccord Genuity reiterated a Buy rating and reduced its target to $62.00 from $70.00.

Eldorado Gold Corp. (EGO:CA): CIBC raised its price target to $73.50 and reiterated Outperformer.

Endeavour Silver Corp. (EDV:CA): CIBC raised its target to C$117.00 from C$77.00 and reiterated Outperformer.

Equinox Gold Corp. (EQX:CA): CIBC raised its target to C$31.00 from C$21.50 and reiterated Outperformer.

Equinox Gold Corp. (EQX:CA): Scotiabank maintained an Outperform rating with a $26.00 target.

Exchange Income Corp. (EIF:CA): Canaccord Genuity reiterated a Buy rating and raised its target to $109.00 from $107.00.

Exchange Income Corp. (EIF:CA): Raymond James reiterated a Strong Buy rating and raised its target to $110.00 from $100.00.

Exchange Income Corp. (EIF:CA): National Bank reiterated an Outperform rating with a $110.00 target.

Fiera Capital Corp. (FSZ:CA): Desjardins Securities reiterated a Hold rating and lowered its target to $6.50 from $6.75.

First Mining Gold Corp. (FF:CA): H.C. Wainwright raised its target to $1.00 from $0.45.

First Quantum Minerals Ltd. (FM:CA): Morgan Stanley raised its target to $36.70 from $33.50.

First Quantum Minerals Ltd. (FM:CA): CIBC raised its target to C$46.00 from C$36.00 while maintaining Neutral.

Foran Mining Corp. (FOM:CA): ATB Capital reiterated a Tender rating and raised its target to $6.60 from $5.00.

Fortuna Mining Corp. (FVI:CA): CIBC raised its target to C$16.00 from C$9.00 while maintaining Neutral.

Franco-Nevada Corp. (FNV:CA): CIBC raised its target to C$480.00 from C$460.00 and reiterated Outperform.

G Mining Ventures Corp. (GMIN:CA): CIBC raised its target to C$60.00 from C$42.00 and reiterated Outperformer.

Gildan Activewear Inc. (GIL:CA): Scotiabank reiterated an Outperform rating and raised its target to $98.00 from $90.00.

Headwater Exploration Inc. (HWX:CA): National Bank reiterated an Outperform rating and raised its target to $11.50 from $10.50.

Hochschild Mining plc (HSLV:CA): CIBC raised its target to C$12.00 from C$8.00 and reiterated Outperform.

Hudbay Minerals Inc. (HBM-CA): CIBC raised its target to C$42.00 from C$35.00 and reiterated Outperformer.

IAMGOLD Corp. (IAG:CA): CIBC raised its target to $46.00 and reiterated Outperformer.

Imperial Oil Ltd. (IMO:CA): JPMorgan raised its target to $108.00 from $99.00.

Imperial Oil Ltd. (IMO:CA): National Bank reiterated a Sector Perform rating and raised its target to $139.00 from $127.00.

Kinross Gold Corp. (K:CA): CIBC raised its target to $74.00 and reiterated Outperform.

Lundin Gold Inc. (LUG-CA): CIBC raised its target to C$141.00 from C$123.00 while maintaining Neutral.

Lundin Mining Corp. (LUN:CA): CIBC raised its target to C$37.00 from C$30.00 while maintaining Neutral.

NFI Group Inc. (NFI:CA): National Bank reiterated an Outperform rating but lowered its target to $22.00 from $28.00.

NGEx Minerals Ltd. (NGEX:CA): CIBC raised its target to C$34.00 from C$26.00 while maintaining Neutral.

NuVista Energy Ltd. (NVA:CA): TD Securities maintained a Sell rating with an $18.31 target.

OceanaGold Corp. (OGC:CA): CIBC raised its target to C$66.00 from C$50.00 and reiterated Outperformer.

Orezone Gold Corp. (ORE:CA): CIBC raised its target to C$3.50 from C$3.25 while maintaining Neutral.

Orla Mining Ltd. (OLA:CA): CIBC raised its target to C$32.00 from C$27.00 and reiterated Outperformer.

Osisko Gold Royalties Ltd. (OR:CA): CIBC raised its target to C$88.00 from C$86.00 and reiterated Outperformer.

Ovintiv Inc. (OVV:CA): National Bank reiterated an Outperform rating and raised its target to $76.00 from $74.00.

Pan American Silver Corp. (PAAS:CA): CIBC raised its target to $120.00 and reiterated Outperformer.

Power Corp. of Canada (POW:CA): Desjardins Securities reiterated a Buy rating and raised its target to $78.00 from $75.00.

PrairieSky Royalty Ltd. (PSK:CA): National Bank reiterated an Outperform rating and raised its target to $35.00 from $32.00.

Restaurant Brands International Inc. (QSR:CA): CIBC maintained an Outperform rating with a $109.00 target.

Restaurant Brands International Inc. (QSR:CA): Citigroup reiterated a Neutral rating with a $98.00 target.

Sangoma Technologies Corp. (STC:CA): TD Securities maintained a Buy rating with a $10.00 target.

Skeena Gold & Silver (SKE:CA): TD Securities maintained a Buy rating with a $49.00 target.

Skeena Resources Ltd. (SKE:CA): CIBC raised its target to C$58.00 from C$44.00 and reiterated Outperformer.

Snowline Gold Corp. (SGD:CA): CIBC raised its target to C$27.00 from C$22.00 and reiterated Outperformer.

Spin Master Corp. (TOY:CA): RBC Capital reiterated an Outperform rating but lowered its target to $27.00 from $29.00.

Stingray Group Inc. (RAY.A:CA): RBC Capital reiterated an Outperform rating and raised its target to $18.00 from $17.00.

Suncor Energy Inc. (SU:CA): National Bank reiterated an Outperform rating and raised its target to $85.00 from $72.00.

Suncor Energy Inc. (SU:CA): CIBC maintained an Outperform rating with a $70.00 target.

Teck Resources Ltd. (TECK.B-CA): CIBC raised its target to C$77.00 from C$61.00 while maintaining Neutral.

Tenaz Energy Corp. (TNZ:CA): National Bank reiterated an Outperform rating and raised its target to $66.00 from $52.00.

Thomson Reuters (TRI:CA): TD Securities maintained a Buy rating with a $285.00 target.

Torex Gold Resources Inc. (TXG-CA): CIBC raised its target to C$100.00 from C$90.00 and reiterated Outperform rating.

Triple Flag Precious Metals Corp. (TFPM:CA): CIBC raised its target to C$74.00 from C$66.00 and reiterated Outperform rating.

Vermilion Energy Inc. (VET:CA): National Bank reiterated an Outperform rating and raised its target to $18.50 from $14.50.

Vizsla Silver Corp. (VZLA:CA): CIBC cut its target to C$10.00 from C$10.50 and reiterated Outperformer.

Volatus Aerospace Inc. (FLT:CA): Haywood Securities reiterated a Buy rating with a $0.90 target.

Wesdome Gold Mines Ltd. (WDO:CA): CIBC raised its target to C$31.00 from C$27.00 while maintaining Neutral.

Wheaton Precious Metals Corp. (WPM:CA): CIBC raised its target to $293.00 and reiterated Outperformer.

Whitecap Resources Inc. (WCP:CA): National Bank reiterated an Outperform rating and raised its target to $16.00 from $15.00.

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