O3 Mining rating changed to Tender from Outperformer at CIBC

CIBC changed the firm’s rating on O3 Mining (OIIIF) to Tender from Outperformer with a price target of C$1.67, down from C$3.70. Agnico Eagle and O3 Mining announced that they have entered into a definitive agreement for Agnico Eagle to acquire all of the outstanding common shares of O3 Mining at C$1.67 per common share in cash. CIBC expects the deal to be approved and to go close in early 2025.