Osisko Mining downgraded to Market Perform from Outperform at BMO Capital

BMO Capital analyst Andrew Mikitchook downgraded Osisko Mining (OBNNF) to Market Perform from Outperform with a price target of C$4.90, down from C$5.75, after the company agreed to be acquired by Gold Fields (GFI) for C $4.90 per share. The firm says the “strong cash bid” reinforces the quality and scarcity value of the Windfall deposit. The already existing Windfall joint venture combined with the premium significantly reduces the likelihood of a third party emerging as a bidder, the analyst tells investors in a research note.