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CANADA RESEARCH ROUNDUP-Equinox Gold, Lundin Mining, Skeena Resources

ReutersDec 16, 2025 6:25 PM

- Securities analysts revised their ratings and price targets on several Canadian companies including Equinox Gold, Lundin Mining and Skeena Resources, on Tuesday

HIGHLIGHTS

Altagas Ltd ALA.TO: Scotiabank raises target price to C$50 from C$48

Equinox Gold Corp EQX.TO: CIBC cuts to neutral from outperformer

Lundin Mining Corp LUN.TO: Morgan Stanley raises target price to C$29.6 from C$25.8

Major Drilling Group International Inc MDI.TO: RBC raises PT to C$17 from C$14

Skeena Resources Ltd SKE.TO: CIBC raises target price to C$40 from C$36

Following is a summary of research actions on Canadian companies reported by Reuters on Tuesday. Stock entries are in alphabetical order.

Altagas Ltd ALA.TO: Scotiabank raises target price to C$50 from C$48

Atco Ltd ACOx.TO: Scotiabank raises target price to C$61 from C$56

Banyan Gold Corp BYN.V: Canaccord Genuity initiates coverage with price target C$2.25

Banyan Gold Corp BYN.V: Canaccord Genuity initiates coverage with speculative buy rating

Boralex Inc BLX.TO: Scotiabank cuts target price to C$31 from C$35

Canadian Utilities Ltd CU.TO: Scotiabank raises PT to C$43 from C$40

Emera Inc EMA.TO: Scotiabank raises target price to C$78 from C$72

Equinox Gold Corp EQX.TO: CIBC cuts target price to C$21.5 from C$23

Equinox Gold Corp EQX.TO: CIBC cuts to neutral from outperformer

Equinox Gold Corp EQX.TO: Cormark Securities cuts target price to C$21 from C$22.5

First Quantum Minerals Ltd FM.TO: Morgan Stanley raises PT to C$33.5 from C$30.2

Foran Mining Corp FOM.TO: Ventum Financial raises target price to C$5.5 from C$5.25

Fortis Inc FTS.TO: Scotiabank raises target price to C$79 from C$74

Gatekeeper Systems Inc GSI.V: Raymond James initiates coverage with PT C$3

Gatekeeper Systems Inc GSI.V: Raymond James initiates coverage with outperform rating

Hydro One Ltd H.TO: Scotiabank raises target price to C$53 from C$51

Imperial Oil IMO.TO: Raymond James cuts target price to C$110 from C$111

Imperial Oil IMO.TO: TD Cowen cuts target price to C$106 from C$107

Lundin Mining Corp LUN.TO: Haywood Securities raises PT to C$32 from C$28

Lundin Mining Corp LUN.TO: Morgan Stanley raises target price to C$29.6 from C$25.8

Major Drilling Group International Inc MDI.TO: RBC raises PT to C$17 from C$14

Pembina Pipeline Corp PPL.TO: BMO cuts target price to C$58 from C$59

Pembina Pipeline Corp PPL.TO: CIBC cuts target price to C$61 from C$62

Pembina Pipeline Corp PPL.TO: Raymond James raises PT to C$67 from C$66

Pembina Pipeline Corp PPL.TO: TD Cowen cuts target price to C$60 from C$65

Pharmacorp Rx Inc PCRX.V: Canaccord Genuity initiates coverage with speculative buy rating; PT C$0.5

Rio2 Ltd RIO.TO: Raymond James raises target price to C$4 from C$2.5

Silver47 Exploration Corp AGA.V: Haywood Securities initiates coverage with PT C$1.9

Silver47 Exploration Corp AGA.V: Haywood Securities initiates coverage with buy rating

Skeena Resources Ltd SKE.TO: CIBC raises target price to C$40 from C$36

Skeena Resources Ltd SKE.TO: Canaccord Genuity raises target price to C$40 from C$30

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