Osisko Mining downgraded to Sector Perform from Outperform at Scotiabank

Scotiabank analyst Ovais Habib downgraded Osisko Mining to Sector Perform from Outperform with a price target of C$4.90, up from C$4.25. The firm is making a number of estimate revisions along with some price target changes for its mid-tier precious metals’ coverage universe following the application of an improved precious metals price outlook for 2024, 2025 and long-term prices plus revised base metal price forecasts, notes the analyst. Specifically, the firm has adopted higher gold and silver prices for this year and next year and moved its long-term gold price to $1,900/oz from $1,800/oz previously.