Wall Street’s latest stock upgrades and downgrades from the top investment research firms.
Note: The ratings on this page are delayed. For up to the minute ratings changes please subscribe to GoldAlert Pro.
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| Company | Ticker | Brokerage | Date | Action |
| Agnico-Eagle Mines | AEM.TSX | GMP Securities | 2/27/12 | Downgrades to Hold from Buy and lowers pt to C$41.00 from C$58.50 |
| Barrick Gold | ABX.TSX | GMP Securities | 2/27/12 | Lowers pt to C$70.00 from C$73.50 but reiterates Buy rating |
| Eldorado Gold | ELD.TSX | GMP Securities | 2/27/12 | Raises pt to C$27.00 from C$26.50 and reiterates Buy rating |
| Goldcorp | G.TSX | GMP Securities | 2/27/12 | Lowers pt to C$74.00 from C$77.00 but reiterates Buy rating |
| IAMGOLD | IMG.TSX | GMP Securities | 2/27/12 | Lowers pt to C$29.00 from C$30.00 but reiterates Buy rating |
| IAMGOLD | IMG.TSX | Macquarie | 2/27/12 | Downgrades to Neutral from Outperform and lowers pt to C$20.00 from C$24.00 |
| Kinross Gold | K.TSX | GMP Securities | 2/27/12 | Lowers pt to C$17.00 from C$18.50 but reiterates Buy rating |
| Eldorado Gold | EGO | Scotia Capital | 2/24/12 | Reiterates Sector Outperform rating and $20.00 pt |
| Pan American Silver | PAAS | UBS | 2/24/12 | Lowers pt to $30.00 from $31.50 but reiterates Buy rating |
| Barrick Gold | ABX.TSX | Macquarie | 2/23/12 | Lowers pt to C$70.00 from C$72.00 but reiterates Outperform rating |
| Golden Star Resources | GSS | Scotia Capital | 2/23/12 | Reiterates Sector Perform rating and $2.00 pt |
| Lake Shore Gold | LSG.TSX | M Partners | 2/23/12 | Reiterates Buy rating and C$3.50 pt |
| Yamana Gold | AUY | National Bank Financial | 2/23/12 | Raises pt to C$17.75 from C$17.50 but maintains Sector Perform rating |
| Yamana Gold | AUY | TD Securities | 2/23/12 | Reiterates Buy rating and C$22.00 pt |
| Eldorado Gold | EGO | Scotia Capital | 2/22/12 | Reiterates Sector Outperform rating and $20.00 pt |
| Lydian International | LYD.TSX | National Bank Financial | 2/22/12 | Reiterates Outperform rating and C$4.50 pt |
| North American Palladium | PDL.TSX | Macquarie | 2/22/12 | Reiterates Outperform rating and C$5.50 pt |
| Orezone Gold | ORE.TSX | National Bank Financial | 2/22/12 | Reiterates Outperform rating and C$4.60 pt |
| Teranga Gold | TGZ.TSX | GMP Securities | 2/22/12 | Raises pt to C$4.25 from C$4.00 and reiterates Buy rating |
| Yamana Gold | AUY | Scotia Capital | 2/22/12 | Raises pt to $19.50 from $19.00 but maintains Sector Perform rating |
| Agnico-Eagle Mines | AEM.TSX | Macquarie | 2/21/12 | Lowers pt to C$44.00 from C$50.00 but reiterates Neutral rating |
| Barrick Gold | ABX.TSX | TD Securities | 2/21/12 | Lowers pt to C$67.00 from C$69.00 but reiterates Buy rating |
| Dundee Precious Metals | DPM.TSX | Stifel Nicolaus | 2/21/12 | Reiterates Buy rating and C$13.50 pt |
| Hecla Mining | HL | J.P.Morgan | 2/21/12 | Maintains Neutral rating and $9.00 pt |
| Pretium Resources | PVG.TSX | GMP Securities | 2/21/12 | Resumse coverage by reiterating Buy rating and raising pt to C$25.00 from C$22.00 |
| Sandstorm Gold | SSL.TSXV | National Bank Financial | 2/21/12 | Raises pt to $2.00 from C$1.80 and reiterates Outperform rating |
| St. Andrew Goldfields | SAS.TSX | Macquarie | 2/21/12 | Reiterates Outperform rating and C$0.95 pt |
| Agnico-Eagle Mines | AEM | CIBC | 2/20/12 | Downgrades to Sector Underperformer from Sector Performer and lowers pt to $43.00 from $54.00 |
| Detour Gold | DGC.TSX | CIBC | 2/17/12 | Resumes coverage with Sector Outperformer rating but lowers pt to C$45.00 from C$55.00 |
| Dundee Precious Metals | DPM.TSX | Scotia Capital | 2/17/12 | Reiterates Sector Outperform rating and C$13.75 pt |
| Gold Fields | GFI | Scotia Capital | 2/17/12 | Lowers pt to $19.50 from $20.00 but maintains Sector Perform rating |
| Goldcorp | G.TSX | Macquarie | 2/17/12 | Lowers pt to C$62.00 from C$63.00 but reiterates Outperform rating |
| Hecla Mining | HL | CIBC | 2/17/12 | Reiterates Sector Underperformer rating and $5.00 pt |
| Oceana Gold | OGC.TSX | GMP Securities | 2/17/12 | Reiterates Buy rating and C$4.00 pt |
| Perseus Mining | PRU.TSX | CIBC | 2/17/12 | Reiterates Sector Outperformer rating and C$5.00 pt |
| Perseus Mining | PRU.TSX | Dundee Securities | 2/17/12 | Reiterates Buy rating and C$5.00 pt |
| Queenston Mining | QMI.TSX | Scotia Capital | 2/17/12 | Reiterates Sector Outperform rating and C$8.75 pt |
| Queenston Mining | QMI.TSX | Stifel Nicolaus | 2/17/12 | Lowers pt to C$8.00 from C$9.50 but reiterates Buy rating |
| St. Andrew Goldfields | SAS.TSX | GMP Securities | 2/17/12 | Lowers pt to C$0.85 from C$1.00 but reiterates Buy rating |
| Agnico-Eagle Mines | AEM | J.P.Morgan | 2/16/12 | Lowers pt to $37.00 from $43.00 but reiterates Overweight rating |
| Agnico-Eagle Mines | AEM.TSX | Dundee Securities | 2/16/12 | Maintains Neutral rating and C$44.00 pt |
| Detour Gold | DGC.TSX | TD Securities | 2/16/12 | Resumes coverage with Speculative Buy rating but lowers pt to C$37.00 from C$42.00 |
| Franco-Nevada | FNV.TSX | TD Securities | 2/16/12 | Maintains Hold rating and C$47.00 pt |
| Goldcorp | G.TSX | Dundee Securities | 2/16/12 | Reiterates Buy rating and C$60.00 pt |
| Goldcorp | GG | Scotia Capital | 2/16/12 | Reiterates Sector Outperform rating and $67.00 pt |
| Goldcorp | GG | Stifel Nicolaus | 2/16/12 | Reiterates Buy rating and $65.00 pt |
| Goldcorp | GG | TD Securities | 2/16/12 | Reiterates Buy rating and $65.00 pt |
| Kinross Gold | K.TSX | Dundee Securities | 2/16/12 | Reiterates Neutral rating and C$12.90 pt |
| Kinross Gold | KGC | J.P.Morgan | 2/16/12 | Lowers pt to $15.00 from $16.00 but reiterates Overweight rating |
| Kinross Gold | K.TSX | Macquarie | 2/16/12 | Upgrades to Outperform from Neutral but maintains C$15.50 pt |
| Kinross Gold | KGC | Scotia Capital | 2/16/12 | Lowers pt to $13.50 from $14.50 but maintains Sector Perform rating |
| Kinross Gold | KGC | Stifel Nicolaus | 2/16/12 | Reiterates Buy rating and $17.00 pt |
| Kinross Gold | KGC | TD Securities | 2/16/12 | Maintains Hold rating and $13.50 pt |
| Oceana Gold | OGC.TSX | Macquarie | 2/16/12 | Reiterates Outperform rating and C$3.25 pt |
| Queenston Mining | QMI.TSX | Dundee Securities | 2/16/12 | Lowers pt to C$8.50 from C$9.00 but reiterates Buy rating |
| Volta Resources | VTR.TSX | Scotia Capital | 2/16/12 | Reiterates Sector Outperform rating and C$3.00 pt |
| Prodigy Gold | PDG.TSXV | Macquarie | 2/14/12 | Initiates coverage with Outperform rating and C$1.50 pt |
| Silver Standard Resources | SSRI | CIBC | 2/14/12 | Maintains Sector Performer rating and $18.00 pt |
| Agnico-Eagle Mines | AEM | RBC Capital Markets | 2/13/12 | Lowers pt to $43.00 from $66.00 but maintains Sector Perform rating |
| AuRico Gold | AUQ | Scotia Capital | 2/13/12 | Reiterates Sector Outperform rating and $15.00 pt |
| Barrick Gold | ABX | Stifel Nicolaus | 2/13/12 | Reiterates Buy rating and $70.00 pt |
| Claude Resources | CRJ.TSX | Dundee Securities | 2/13/12 | Reiterates Buy rating and C$2.60 pt |
| Claude Resources | CRJ.TSX | National Bank Financial | 2/13/12 | Reiterates Outperform rating and C$2.50 pt |
| Goldcorp | GG | Stifel Nicolaus | 2/13/12 | Reiterates Buy rating and $65.00 pt |
| Kinross Gold | KGC | Stifel Nicolaus | 2/13/12 | Reiterates Buy rating and $17.00 pt |
| Newmont Mining | NEM | Stifel Nicolaus | 2/13/12 | Reiterates Hold rating |
| Claude Resources | CRJ.TSX | National Bank Financial | 2/12/12 | Lowers pt to C$2.50 from C$2.90 but reiterates Outperform rating |
| Centerra Gold | CG.TSX | Scotia Capital | 2/10/12 | Reiterates Sector Perform rating and C$26.00 pt |
| Centerra Gold | CG.TSX | TD Securities | 2/10/12 | Maintains Hold rating and C$22.00 pt |
| Newcrest Mining | NCM.ASX | J.P.Morgan | 2/10/12 | Raises pt to A$45.00 from A$42.95 and reiterates Overweight rating |
| Queenston Mining | QMI.TSX | Stifel Nicolaus | 2/10/12 | Reiterates Buy rating and C$9.50 pt |
| Balmoral Resources | BAR.TSXV | M Partners | 2/9/12 | Reiterates Buy rating and C$1.75 pt |
| First Majestic Silver | FR.TSX | M Partners | 2/9/12 | Discontinues coverage |
| Franco-Nevada | FNV.TSX | TD Securities | 2/9/12 | Reiterates Hold rating and C$47.00 pt |
| Lake Shore Gold | LSG.TSX | CIBC | 2/9/12 | Raises pt to C$2.25 from C$2.00 but maintains Sector Performer rating |
| Lake Shore Gold | LSG.TSX | M Partners | 2/9/12 | Lowers pt to C$3.50 from C$4.00 but reiterates Buy rating |
| Pilot Gold | PLG.TSX | National Bank Financial | 2/9/12 | Reiterates Outperform rating and C$4.30 pt |
| Silvercorp Metals | SVM.TSX | CIBC | 2/9/12 | Lowers pt to C$11.00 from C$12.00 but maintains Sector Performer rating |
| Spanish Mountain Gold | SPA.TSXV | M Partners | 2/9/12 | Discontinues coverage |
| Timmins Gold | TMM.TSX | M Partners | 2/9/12 | Raises pt to C$4.00 from C$3.50 and reiterates Buy rating |
| Volta Resources | VTR.TSX | M Partners | 2/9/12 | Lowers pt to C$2.75 from C$3.00 but reiterates Buy rating |
| Randgold Resources | GOLD | Stifel Nicolaus | 2/8/12 | Issues Hold rating, no pt provided |
| San Gold | SGR.TSX | CIBC | 2/8/12 | Reiterates Sector Perform rating and C$2.90 pt |
| San Gold | SGR.TSX | Dundee Securities | 2/8/12 | Reiterates Buy rating and C$3.60 pt |
| Vista Gold | VGZ.TSX | National Bank Financial | 2/8/12 | Raises pt to C$5.00 from C$4.20 and reiterates Outperform rating |
| Nevsun Resources | NSU.TSX | CIBC | 2/7/12 | Downgrades to Sector Underperformer from Sector Performer and lowers pt to C$5.50 from C$8.00 |
| Romarco Minerals | R.TSX | National Bank Financial | 2/7/12 | Reiterates Outperform rating and C$2.10 pt |
| Yamana Gold | AUY | Dahlman Rose | 2/7/12 | Downgrades to Hold from Buy, issues $16.48 pt |
| Alacer Gold | ASR.TSX | National Bank Financial | 2/6/12 | Raises pt to C$9.00 from C$8.00 and reiterates Outperform rating |
| Allied Nevada Gold | ANV.TSX | National Bank Financial | 2/6/12 | Reiterates Outperform rating and C$48.50 pt |
| AuRico Gold | AUQ.TSX | Dundee Securities | 2/6/12 | Downgrades to Neutral from Buy and lowers pt to C$11.00 from C$13.00 |
| Dundee Precious Metals | DPM.TSX | Stifel Nicolaus | 2/6/12 | Reiterates Buy rating and C$13.50 pt |
| Golden Star Resources | GSC.TSX | National Bank Financial | 2/6/12 | Maintains Underperform rating and C$1.85 pt |
| AuRico Gold | AUQ.TSX | Scotia Capital | 2/3/12 | Reiterates Sector Outperform rating and $15.00 pt |
| IAMGOLD | IMG.TSX | National Bank Financial | 2/3/12 | Reiterates Sector Perform rating and C$20.50 pt |
| New Gold | NGD.TSX | National Bank Financial | 2/3/12 | Downgrades to Sector Perform from Outperform but maintains C$13.25 pt |
| Orezone Gold | ORE.TSX | National Bank Financial | 2/3/12 | Reiterates Outperform rating and C$4.60 pt |
| Brigus Gold | BRD.TSX | Casimir Capital | 2/2/12 | Reiterates Strong Buy rating and C$2.35 pt |
| New Gold | NGD | Scotia Capital | 2/2/12 | Reiterates Sector Outperform rating and $16.00 pt |
| New Gold | NGD | UBS | 2/2/12 | Reiterates Buy rating and $13.50 pt |
| Rainy River Resources | RR.TSX | National Bank Financial | 2/2/12 | Reiterates Outperform rating and C$9.00 pt |
| Royal Gold | RGLD | Scotia Capital | 2/2/12 | Reiterates Sector Perform rating and $85.00 pt |
| SEMAFO | SMF.TSX | Stifel Nicolaus | 2/2/12 | Reiterates Hold rating and C$10.50 pt |
| Agnico-Eagle Mines | AEM.TSX | Macquarie | 2/1/12 | Lowers pt to C$50.00 from C$52.00 but maintains Neutral rating |
| Alamos Gold | AGI.TSX | Macquarie | 2/1/12 | Raises pt to C$21.00 from C$18.50 but maintains Neutral rating |
| Allied Nevada Gold | ANV.TSX | Macquarie | 2/1/12 | Raises pt to C$47.00 from C$38.00 and reiterates Outperform rating |
| Allied Nevada Gold | ANV.TSX | GMP Securities | 2/1/12 | Lowers pt to C$60.00 from C$62.50 but reiterates Buy rating |
| Argonaut Gold | AR.TSX | GMP Securities | 2/1/12 | Reiterates Buy rating and C$11.00 pt |
| AuRico Gold | AUQ.TSX | Macquarie | 2/1/12 | Raises pt to C$14.00 from C$12.50 and reiterates Outperform rating |
| AuRico Gold | AUQ.TSX | Dundee Securities | 2/1/12 | Reiterates Buy rating and C$13.00 pt |
| Barrick Gold | ABX.TSX | Macquarie | 2/1/12 | Raises pt to C$72.00 from C$70.00 and reiterates Outperform rating |
| Bear Creek Mining | BCM.TSXV | GMP Securities | 2/1/12 | Lowers pt to C$6.00 from C$6.50 but reiterates Buy rating |
| Eldorado Gold | ELD.TSX | Macquarie | 2/1/12 | Raises pt to C$17.00 from C$16.50 but maintains Neutral rating |
| Goldcorp | G.TSX | Macquarie | 2/1/12 | Raises pt to C$63.00 from C$62.00 and reiterates Outperform rating |
| Golden Star Resources | GSC.TSX | Macquarie | 2/1/12 | Raises pt to C$2.50 from C$2.00 but maintains Neutral rating |
| Golden Star Resources | GSC.TSX | National Bank Financial | 2/1/12 | Downgrades to Underperform from Sector Perform but raises pt to C$1.85 from C$1.70 |
| IAMGOLD | IMG.TSX | Macquarie | 2/1/12 | Raises pt to C$24.00 from C$22.50 and reiterates Outperform rating |
| International Tower Hill Mines | ITH.TSX | GMP Securities | 2/1/12 | Raises pt to C$13.50 from C$13.25 and reiterates Buy rating |
| Kinross Gold | K.TSX | Macquarie | 2/1/12 | Raises pt to C$15.50 from C$14.50 but maintains Neutral rating |
| Newmont Mining | NEM | Stifel Nicolaus | 2/1/12 | Downgrades to Hold from Buy but maintains $80.00 pt |
| Oceana Gold | OGC.TSX | Macquarie | 2/1/12 | Raises pt to C$3.25 from C$3.00 and reiterates Outperform rating |
| Orezone Gold | ORE.TSX | GMP Securities | 2/1/12 | Lowers pt to C$5.50 from C$6.25 but reiterates Buy rating |
| Orko Silver | OK.TSXV | GMP Securities | 2/1/12 | Lowers pt to C$2.75 from C$3.50 but reiterates Buy rating |
| Rainy River Resources | RR.TSX | Macquarie | 2/1/12 | Raises pt to C$8.00 from C$7.00 but maintains Neutral rating |
| Romarco Minerals | R.TSX | GMP Securities | 2/1/12 | Lowers pt to C$2.40 from C$2.70 but reiterates Buy rating |
| Rubicon Minerals | RMX.TSX | GMP Securities | 2/1/12 | Lowers pt to C$7.75 from C$8.50 but reiterates Buy rating |
| Silver Wheaton | SLW.TSX | Macquarie | 2/1/12 | Raises pt to C$42.00 from C$38.00 and reiterates Outperform rating |
| Silver Wheaton | SLW.TSX | GMP Securities | 2/1/12 | Lowers pt to C$46.00 from C$49.00 but reiterates Buy rating |
| Yamana Gold | YRI.TSX | Macquarie | 2/1/12 | Raises pt to C$18.00 from C$16.50 but maintains Neutral rating |
| Yamana Gold | YRI.TSX | GMP Securities | 2/1/12 | Lowers pt to C$17.75 from C$18.00 but maintains Hold rating |
| SEMAFO | SMF.TSX | GMP Securities | 1/31/12 | Lowers pt to C$11.50 from C$12.50 but reiterates Buy rating |
| SEMAFO | SMF.TSX | TD Securities | 1/31/12 | Lowers pt to C$9.00 from C$10.00 but maintains Hold rating |
| Agnico-Eagle Mines | AEM.TSX | Dundee Securities | 1/30/12 | Downgrades to Neutral from Buy and lowers pt to C$44.00 from C$56.00 |
| Alamos Gold | AGI.TSX | UBS | 1/30/12 | Raises pt to C$23.50 from C$21.00 and reiterates Buy rating |
| Guyana Goldfields | GUY.TSX | TD Securities | 1/30/12 | Upgrades to Speculative Buy from Hold and raises pt to C$10.50 from C$9.50 |
| SEMAFO | SMF.TSX | CIBC | 1/30/12 | Lowers pt to C$13.00 from C$15.00 but reiterates Sector Outperform rating |
| SEMAFO | SMF.TSX | Stifel Nicolaus | 1/30/12 | Downgrades to Hold from Buy but maintains C$10.50 pt |
| SEMAFO | SMF.TSX | UBS | 1/30/12 | Lowers pt to C$10.50 from C$13.50 but reiterates Buy rating |
| Centerra Gold | CG.TSX | CIBC | 1/29/12 | Lowers pt to C$32.00 from C$33.00 but reiterates Sector Outperform rating |
| IAMGOLD | IAG | CIBC | 1/29/12 | Lowers pt to $27.00 from $31.00 but reiterates Sector Outperform rating |
| Newmont Mining | NEM | CIBC | 1/29/12 | Reiterates Sector Perform rating and $86.00 pt |
| Yamana Gold | AUY | CIBC | 1/29/12 | Raises pt to $24.00 from $22.00 but maintains Sector Perform rating |
| Premier Gold Mines | PG.TSX | Scotia Capital | 1/27/12 | Reiterates Sector Outperform rating and C$10.00 pt |
| Silver Standard Resources | SSRI | Scotia Capital | 1/27/12 | Lowers pt to $24.00 from $25.00 but maintains Sector Perform rating |
| Allied Nevada Gold | ANV.TSX | Dundee Securities | 1/26/12 | Reiterates Outperform rating and C$46.00 pt |
| Allied Nevada Gold | ANV.TSX | National Bank Financial | 1/26/12 | Lowers pt to C$48.50 from C$49.50 but reiterates Outperform rating |
| Kinross Gold | KGC | J.P.Morgan | 1/26/12 | Lowers pt to $16.00 from $23.00 but reiterates Outperform rating |
| Minefinders | MFN | Scotia Capital | 1/26/12 | Reiterates Sector Outperform rating and $20.00 pt |
| Allied Nevada Gold | ANV.TSX | National Bank Financial | 1/25/12 | Reiterates Outperform rating and C$49.50 pt |
| Aurizon Mines | ARZ.TSX | National Bank Financial | 1/25/12 | Reiterates Sector Perform rating and C$6.15 pt |
| Banro | BAA.TSX | CIBC | 1/25/12 | Reiterates Sector Outperform rating and C$7.00 pt |
| Banro | BAA.TSX | GMP Securities | 1/25/12 | Raises pt to C$9.20 from C$8.90 and reiterates Buy rating |
| Detour Gold | DGC.TSX | National Bank Financial | 1/25/12 | Reiterates Outperform rating and C$48.00 pt |
| Kinross Gold | KGC | CIBC | 1/25/12 | Lowers pt to $15.00 from $20.00 but reiterates Sector Perform rating |
| Pan American Silver | PAAS | GMP Securities | 1/25/12 | Lowers pt to $40.50 from $46.50 but reiterates Buy rating |
| Aura Minerals | ORA.TSX | Scotia Capital | 1/24/12 | Lowers pt to C$3.00 from C$4.50 but reiterates Sector Outperform rating |
| Barrick Gold | ABX | RBC Capital Markets | 1/24/12 | Downgrades to Sector Perform from Outperform and lowers pt to $62.00 from $70.00 |
| Gold Fields | GFI | Scotia Capital | 1/24/12 | Reiterates Sector Perform rating and $20.00 pt |
| Torex Gold Resources | TXG.TSX | Macquarie | 1/24/12 | Raises pt to C$3.50 from C$2.50 and reiterates Outperform rating |
| Alamos Gold | AGI.TSX | TD Securities | 1/23/12 | Raises pt to C$23.00 from C$22.00 and reiterates Buy rating |
| AuRico Gold | AUQ.TSX | TD Securities | 1/23/12 | Raises pt to C$12.00 from C$11.00 but maintains Hold rating |
| B2Gold | BTO.TSX | Macquarie | 1/23/12 | Reiterates Outperform rating and C$5.50 pt |
| Barrick Gold | ABX.TSX | Macquarie | 1/23/12 | Lowers pt to C$70.00 from C$73.00 but reiterates Outperform rating |
| Barrick Gold | ABX | TD Securities | 1/23/12 | Raises pt to $69.00 from $67.00 and reiterates Buy rating |
| Canaco Resources | CAN.TSXV | TD Securities | 1/23/12 | Lowers pt to C$4.00 from C$5.00 but reiterates Speculative Buy rating |
| Detour Gold | DGC.TSX | TD Securities | 1/23/12 | Lowers pt to C$42.00 from C$47.00 but reiterates Speculative Buy rating |
| Eldorado Gold | ELD.TSX | TD Securities | 1/23/12 | Raises pt to C$21.00 from C$20.00 and reiterates Buy rating |
| IAMGOLD | IMG.TSX | TD Securities | 1/23/12 | Raises pt to C$27.00 from C$26.00 and reiterates Buy rating |
| Kinross Gold | K.TSX | Macquarie | 1/23/12 | Lowers pt to C$14.50 from C$16.50 but maintains Neutral rating |
| Kinross Gold | KGC | TD Securities | 1/23/12 | Raises pt to $13.50 from $13.00 and reiterates Buy rating |
| Lake Shore Gold | LSG.TSX | CIBC | 1/23/12 | Upgrades to Sector Perform from Sector Underperform but maintains C$2.00 pt |
| Lake Shore Gold | LSG.TSX | TD Securities | 1/23/12 | Lowers pt to C$2.50 from C$3.00 but maintains Hold rating |
| Minefinders | MFL.TSX | TD Securities | 1/23/12 | Raises pt to C$14.50 from C$14.00 but maintains Hold rating |
| Nevsun Resources | NSU.TSX | TD Securities | 1/23/12 | Raises pt to C$7.00 from C$6.50 but maintains Hold rating |
| New Gold | NGD | TD Securities | 1/23/12 | Raises pt to $13.00 from $12.00 but maintains Hold rating |
| Pan American Silver | PAAS | Dahlman Rose | 1/23/12 | Reiterates Buy rating and $31.06 pt |
| Pan American Silver | PAAS | TD Securities | 1/23/12 | Lowers pt to $30.00 from $36.00 but maintains Hold rating |
| San Gold | SGR.TSX | TD Securities | 1/23/12 | Lowers pt to C$3.00 from C$3.50 but reiterates Buy rating |
| Silver Wheaton | SLW | TD Securities | 1/23/12 | Lowers pt to $40.00 from $45.00 but reiterates Buy rating |
| Yamana Gold | AUY | TD Securities | 1/23/12 | Raises pt to $22.00 from $20.00 and reiterates Buy rating |
| Aurizon Mines | ARZ.TSX | National Bank Financial | 1/20/12 | Reiterates Outperform rating and C$6.15 pt |
| Romarco Minerals | R.TSX | National Bank Financial | 1/20/12 | Reiterates Outperform rating and C$2.10 pt |
| Silver Wheaton | SLW | UBS | 1/20/12 | Lowers pt to $44.50 from $45.50 but reiterates Buy rating |
| Torex Gold Resources | TXG.TSX | Dundee Securities | 1/20/12 | Reiterates Buy rating and C$2.70 pt |
| Torex Gold Resources | TXG.TSX | Stifel Nicolaus | 1/20/12 | Raises pt to C$3.00 from C$2.25 and reiterates Buy rating |
| Dundee Precious Metals | DPM.TSX | Scotia Capital | 1/19/12 | Reiterates Sector Outperform rating and C$13.75 pt |
| IAMGOLD | IAG | Scotia Capital | 1/19/12 | Lowers pt to $23.00 from $26.00 but reiterates Outperform rating |
| Torex Gold Resources | TXG.TSX | Scotia Capital | 1/19/12 | Reiterates Sector Outperform rating and C$3.50 pt |
| Vista Gold | VGZ.TSX | National Bank Financial | 1/19/12 | Reiterates Outperform rating and C$4.20 pt |
| Primero Mining | P.TSX | Macquarie | 1/18/12 | Downgrades to Neutral from Outperform and lowers pt to C$4.00 from C$5.00 |
| Alacer Gold | ASR.TSX | National Bank Financial | 1/17/12 | Reiterates Outperform rating and C$14.00 pt |
| Avion Gold | AVR.TSX | National Bank Financial | 1/17/12 | Reiterates Outperform rating and C$3.05 pt |
| Detour Gold | DGC.TSX | National Bank Financial | 1/17/12 | Reiterates Outperform rating and C$48.00 pt |
| Kinross Gold | K.TSX | Dundee Securities | 1/17/12 | Lowers pt to C$12.50 from C$17.50 but reiterates Neutral rating |
| Kinross Gold | K.TSX | Macquarie | 1/17/12 | Downgrades to Neutral from Outperform and lowers pt to C$16.50 from C$19.50 |
| Lake Shore Gold | LSG.TSX | National Bank Financial | 1/17/12 | Reiterates Outperform rating and C$4.00 pt |
| Newmont Mining | NEM | Scotia Capital | 1/17/12 | Reiterates Sector Perform rating and $80.00 pt |
| Orezone Gold | ORE.TSX | National Bank Financial | 1/17/12 | Lowers pt to C$3.50 from C$3.90 but reiterates Outperform rating |
| Romarco Minerals | R.TSX | National Bank Financial | 1/17/12 | Lowers pt to C$2.10 from C$2.50 but reiterates Outperform rating |
| SEMAFO | SMF.TSX | National Bank Financial | 1/17/12 | Reiterates Outperform rating and C$14.50 pt |
| Sulliden Gold | SUE.TSX | National Bank Financial | 1/17/12 | Lowers pt to C$3.50 from C$3.90 but reiterates Outperform rating |
| Timmins Gold | TMM.TSX | National Bank Financial | 1/17/12 | Reiterates Outperform rating and C$3.90 pt |
| Yamana Gold | AUY | UBS | 1/17/12 | Reiterates Buy rating and $18.00 pt |
| AuRico Gold | AUQ | Dundee Securities | 1/16/12 | Lowers pt to C$12.00 from C$15.50 but reiterates Sector Outperform rating |
| AuRico Gold | AUQ | Scotia Capital | 1/16/12 | Reiterates Sector Outperform rating and $15.00 pt |
| Barrick Gold | ABX | Canaccord Genuity | 1/16/12 | Downgrades to Hold from Buy and lowers pt to $57.50 from $61.50 |
| Claude Resources | CRJ.TSX | National Bank Financial | 1/16/12 | Reiterates Outperform rating and C$2.90 pt |
| Perseus Mining | PRU.TSX | Dundee Securities | 1/16/12 | Reiterates Buy rating and C$5.00 pt |
| Rainy River Resources | RR.TSX | National Bank Financial | 1/16/12 | Reiterates Outperform rating and C$9.00 pt |
| Rainy River Resources | RR.TSX | Scotia Capital | 1/16/12 | Reiterates Sector Outperform rating and C$11.00 pt |
| Yamana Gold | YRI.TSX | Macquarie | 1/16/12 | Reiterates Neutral rating and C$16.50 pt |
| Aurizon Mines | ARZ.TSX | Macquarie | 1/12/12 | Reiterates Outperform rating and C$7.00 pt |
| Detour Gold | DGC.TSX | Macquarie | 1/12/12 | Reiterates Outperform rating and C$38.00 pt |
| Guyana Goldfields | GUY.TSX | Scotia Capital | 1/12/12 | Lowers pt to C$13.00 from C$15.00 but reiterates Sector Outperform rating |
| Jaguar Mining | JAG.TSX | National Bank Financial | 1/12/12 | Reiterates Sector Perform rating and C$5.40 pt |
| San Gold | SGR.TSX | Dundee Securities | 1/12/12 | Lowers pt to C$3.60 from C$4.00 but reiterates Buy rating |
| Yamana Gold | AUY | Scotia Capital | 1/12/12 | Reiterates Sector Perform rating and $18.00 pt |
| Pan American Silver | PAAS | UBS | 1/11/12 | Reiterates Buy rating and $33.50 pt |
| Perseus Mining | PRU.TSX | Dundee Securities | 1/11/12 | Reiterates Buy rating and C$5.00 pt |
| Royal Gold | RGLD | Scotia Capital | 1/11/12 | Reiterates Sector Perform rating and $85.00 pt |
| Alamos Gold | AGI.TSX | Macquarie | 1/10/12 | Reiterates Neutral rating and C$18.50 pt |
| Alamos Gold | AGI.TSX | Scotia Capital | 1/10/12 | Reiterates Sector Outperform rating and C$25.00 pt |
| B2Gold | BTO.TSX | Haywood Securities | 1/10/12 | Reiterates Sector Outperform rating and C$4.40 pt |
| CGA Mining | CGA.TSX | Haywood Securities | 1/10/12 | Reiterates Sector Outperform rating and C$4.00 pt |
| Detour Gold | DGC.TSX | Haywood Securities | 1/10/12 | Reiterates Sector Outperform rating and C$45.00 pt |
| Eldorado Gold | ELD.TSX | Dundee Securities | 1/10/12 | Upgrades to Buy from Neutral but lowers pt to C$20.00 from C$21.00 |
| Eldorado Gold | ELD.TSX | Macquarie | 1/10/12 | Lowers pt to C$16.50 from C$17.00 but maintains neutral rating |
| Fortuna Silver Mines | FVI.TSX | Haywood Securities | 1/10/12 | Reiterates Sector Outperform rating and C$7.25 pt |
| Minefinders | MFL.TSX | Scotia Capital | 1/10/12 | Reiterates Sector Outperform rating and C$20.00 pt |
| Minefinders | MFL.TSX | TD Securities | 1/10/12 | Upgrades to Hold from Reduce by maintains C$14.00 pt |
| Timmins Gold | TMM.TSX | National Bank Financial | 1/10/12 | Reiterates Outperform rating and C$3.90 pt |
| US Gold | UXG | Dahlman Rose | 1/10/12 | Issues Buy rating and $6.63 pt |
| Alamos Gold | AGI.TSX | CIBC | 1/9/12 | Lowers pt to C$23.00 from C$24.00 but maintains Sector Perform rating |
| Alamos Gold | AGI.TSX | UBS | 1/9/12 | Reiterates Buy rating and C$21.00 pt |
| Eldorado Gold | EGO | CIBC | 1/9/12 | Lowers pt to $19.00 from $20.00 but maintains Sector Perform rating |
| Eldorado Gold | EGO | Scotia Capital | 1/9/12 | Reiterates Sector Outperform rating and $20.00 pt |
| Goldcorp | GG | CIBC | 1/9/12 | Reiterates Sector Outperform rating and $73.00 pt |
| Goldcorp | GG | Scotia Capital | 1/9/12 | Lowers pt to $67.00 from $67.50 but reiterates Sector Outperform rating |
| Agnico-Eagle Mines | AEM | CIBC | 1/8/12 | Lowers pt to $54.00 from $60.00 but maintains Sector Perform rating |
| Claude Resources | CRJ.TSX | CIBC | 1/8/12 | Lowers pt to C$2.20 from C$2.50 but maintains Sector Perform rating |
| Golden Star Resources | GSC.TSX | CIBC | 1/8/12 | Lowers pt to C$2.50 from C$3.00 but maintains Sector Perform rating |
| Newmont Mining | NEM | CIBC | 1/8/12 | Upgrades to Sector Perform from Sector Underperform and raises pt to $86.00 from $82.00 |
| San Gold | SGR.TSX | CIBC | 1/8/12 | Lowers pt to C$2.90 from C$3.00 but maintains Sector Perform rating |
| Golden Star Resources | GSC.TSX | National Bank Financial | 1/6/12 | Lowers pt to C$1.70 from C$2.45 but maintains Sector Perform rating |
| Premier Gold Mines | PG.TSX | Versant Partners | 1/6/12 | Raises pt to C$12.00 from C$11.60 and reiterates Buy rating |
| Gabriel Resources | GBU.TSX | Scotia Capital | 1/5/12 | Reiterates Sector Perform rating and C$7.00 pt |
| Golden Star Resources | GSS | Scotia Capital | 1/5/12 | Reiterates Sector Perform rating and $2.00 pt |
| Agnico-Eagle Mines | AEM.TSX | Macquarie | 1/4/11 | Lowers pt to C$52.00 from C$62.00 but maintains Neutral rating |
| Alamos Gold | AGI.TSX | Macquarie | 1/4/11 | Lowers pt to C$18.50 from C$20.00 but maintains Neutral rating |
| Allied Nevada Gold | ANV.TSX | Macquarie | 1/4/11 | Lowers pt to C$38.00 from C$49.00 but reiterates Outperform rating |
| ATAC Resources | ATC.TSXV | Macquarie | 1/4/11 | Lowers pt to C$6.25 from C$7.00 but reiterates Outperform rating |
| Colossus Minerals | CSI.TSX | Macquarie | 1/4/11 | Lowers pt to C$9.00 from C$11.50 but reiterates Outperform rating |
| Detour Gold | DGC.TSX | Macquarie | 1/4/11 | Lowers pt to C$38.00 from C$40.00 but reiterates Outperform rating |
| Eastmain Resources | ER.TSX | Macquarie | 1/4/11 | Lowers pt to C$2.50 from C$2.75 but reiterates Outperform rating |
| Extorre Gold Mines | XG.TSX | Macquarie | 1/4/11 | Lowers pt to C$11.50 from C$12.50 but reiterates Outperform rating |
| Gabriel Resources | GBU.TSX | Macquarie | 1/4/11 | Lowers pt to C$8.00 from C$9.00 but reiterates Outperform rating |
| International Tower Hill Mines | ITH.TSX | Macquarie | 1/4/11 | Lowers pt to C$8.50 from C$12.00 but reiterates Outperform rating |
| Midas Gold | MAX.TSX | Macquarie | 1/4/11 | Lowers pt to C$8.75 from C$9.75 but reiterates Outperform rating |
| Mirasol Resources | MRZ.TSXV | Macquarie | 1/4/11 | Lowers pt to C$5.00 from C$6.00 but reiterates Outperform rating |
| Rainy River Resources | RR.TSX | Macquarie | 1/4/11 | Downgrades to Neutral from Outperform and lowers pt to C$7.00 from C$9.00 |
| Strategic Metals | SMD.TSXV | Macquarie | 1/4/11 | Lowers pt to C$2.75 from C$3.00 but reiterates Outperform rating |
| Tahoe Resources | THO.TSX | Macquarie | 1/4/11 | Downgrades to Neutral from Outperform and lowers pt to C$21.50 from C$26.00 |
| Torex Gold Resources | TXG.TSX | Macquarie | 1/4/11 | Reiterates Outperform rating and C$2.50 pt |
| Virginia Mines | VGQ.TSX | Macquarie | 1/4/11 | Downgrades to Neutral from Outperform and lowers pt to C$10.00 from C$10.50 |
| Aura Minerals | ORA.TSX | Macquarie | 1/4/11 | Raises pt to C$1.30 from C$1.25 but maintains Neutral rating |
| AuRico Gold | AUQ.TSX | Macquarie | 1/4/11 | Lowers pt to C$12.50 from C$15.50 but reiterates Outperform rating |
| Aurizon Mines | ARZ.TSX | Macquarie | 1/4/11 | Lowers pt to C$7.00 from C$8.00 but reiterates Outperform rating |
| B2Gold | BTO.TSX | Macquarie | 1/4/11 | Raises pt to C$5.50 from C$4.75 and reiterates Outperform rating |
| Barrick Gold | ABX.TSX | Macquarie | 1/4/11 | Lowers pt to C$73.00 from C$84.00 but reiterates Outperform rating |
| Colossus Minerals | CSI.TSX | Stifel Nicolaus | 1/4/11 | Reiterates Buy rating and C$11.75 pt |
| Eldorado Gold | ELD.TSX | Macquarie | 1/4/11 | Lowers pt to C$17.00 from C$20.00 but maintains Neutral rating |
| Goldcorp | G.TSX | Macquarie | 1/4/11 | Lowers pt to C$62.00 from C$71.00 but reiterates Outperform rating |
| Golden Star Resources | GSC.TSX | Macquarie | 1/4/11 | Lowers pt to C$2.00 from C$3.00 but maintains Neutral rating |
| IAMGOLD | IMG.TSX | Macquarie | 1/4/11 | Lowers pt to C$24.00 from C$27.00 but reiterates Outperform rating |
| Kinross Gold | K.TSX | Macquarie | 1/4/11 | Lowers pt to C$19.50 from C$23.00 but reiterates Outperform rating |
| OceanaGold | OGC.TSX | Macquarie | 1/4/11 | Lowers pt to C$3.00 from C$3.50 but reiterates Outperform rating |
| Osisko Mining | OSK.TSX | Macquarie | 1/4/11 | Lowers pt to C$15.00 from C$18.00 but reiterates Outperform rating |
| Primero Mining | P.TSX | Macquarie | 1/4/11 | Lowers pt to C$5.00 from C$5.50 but reiterates Outperform rating |
| Rio Alto Mining Ltd | RIO.TSXV | Scotia Capital | 1/4/12 | Reiterates Sector Outperform rating and C$5.25 pt |
| SEMAFO | SMF.TSX | Macquarie | 1/4/11 | Lowers pt to C$10.00 from C$13.00 but reiterates Outperform rating |
| Yamana Gold | YRI.TSX | Macquarie | 1/4/11 | Lowers pt to C$16.50 from C$18.00 but maintains Neutral rating |
| Silver Wheaton | SLW.TSX | Macquarie | 1/4/11 | Lowers pt to C$38.00 from C$45.00 but reiterates Outperform rating |
| Lydian International | LYD.TSX | National Bank Financial | 1/3/12 | Reiterates Outperform rating and C$4.00 pt |
| Perseus Mining | PRU.TSX | Dundee Securities | 12/23/11 | Reiterates Buy rating and C$5.00 price target |
| Claude Resources | CRJ.TSX | National Bank Financial | 12/22/11 | Reiterates Outperform rating and C$2.90 price target |
| Eldorado Gold | EGO | Scotia Capital | 12/21/11 | Lowers pt to $20.00 from $25.00 but reiterates Sector Outperform rating |
| Hecla Mining | HL | UBS | 12/21/11 | Lowers pt to $9.85 from $10.00 but reiterates Buy rating |
| Minefinders | MFN | Scotia Capital | 12/21/11 | Reiterates Sector Outperform rating and $20.00 price target |
| Premier Gold Mines | PG.TSX | Scotia Capital | 12/21/11 | Initiates coverage with Sector Outperform rating and C$10.00 price target |
| San Gold | SGR.TSX | Dundee Securities | 12/21/11 | Reiterates Buy rating and C$4.00 pt |
| Eldorado Gold | ELD.TSX | CIBC | 12/20/11 | Downgrades to Sector Perform from Sector Outperform and lowers pt to C$6.00 from C$20.00 |
| Agnico-Eagle Mines | AEM | UBS | 12/19/11 | Lowers pt to $54.00 from $59.00 but reiterates Buy rating |
| OceanaGold | OGC.TSX | Macquarie | 12/16/11 | Lowers pt to C$3.50 from C$4.00 but reiterates Outperform rating |
| Torex Gold Resources | TXG.TSX | Dundee Securities | 12/16/11 | Reiterates Buy rating and C$2.70 pt |
| Colossus Minerals | CSI.TSX | Macquarie | 12/15/11 | Reiterates Outperform rating and C$11.50 pt |
| Richmont Mines | RIC.TSX | Rodman & Renshaw | 12/15/11 | Raises pt to $14.41 from $13.78 and reiterates Market Outperform rating |
| Silver Standard Resources | SSRI | Global Hunter | 12/15/11 | Initiates coverage with Accumulate rating and $23.00 pt |
| Torex Gold Resources | TXG.TSX | Dundee Securities | 12/14/11 | Initiates coverage with Buy rating and C$2.70 pt |
| Vista Gold | VGZ.TSX | GMP Securities | 12/14/11 | Initiates coverage with Buy rating and C$9.00 pt |
| Allied Nevada Gold | ANV.TSX | National Bank Financial | 12/13/11 | Reiterates Outperform rating and C$49.50 pt |
| Guyana Goldfields | GUY.TSX | TD Securities | 12/13/11 | Downgrades to Hold from Speculative Buy and lower pt to C$10.00 from C$12.00 |
| Tahoe Resources | THO.TSX | Macquarie | 12/13/11 | Reiterates Outperform rating and C$26.00 pt |
| Dundee Precious Metals | DPM.TSX | Scotia Capital | 12/12/11 | Initiates coverage with Sector Outperform rating and C$12.50 pt |
| Goldcorp | GG | TD Securities | 12/12/11 | Reiterates Buy rating and $68.00 pt |
| Kirkland Lake Gold | KGI.TSX | CIBC | 12/12/11 | Lowers pt to C$28.00 from C$29.00 but reiterates Sector Outperform rating |
| Alacer Gold | ASR.TSX | National Bank Financial | 12/9/11 | Reiterates Outperform rating and C$14.00 pt |
| Kirkland Lake Gold | KGI.TSX | National Bank Financial | 12/9/11 | Reiterates Outperform rating and C$21.50 pt |
| Goldcorp | GG | UBS | 12/8/11 | Raises pt to $66.50 from $66.00 and reiterates Buy rating |
| Imperial Metals | III.TSX | CIBC | 12/8/11 | Reiterates Sector Outperform rating and C$18.00 pt |
| Kirkland Lake Gold | KGI.TSX | CIBC | 12/8/11 | Reiterates Sector Outperform rating and C$29.00 pt |
| Kirkland Lake Gold | KGI.TSX | Dundee Securities | 12/8/11 | Reiterates Buy rating and C$24.00 pt |
| Teranga Gold | TGZ.TSX | CIBC | 12/8/11 | Reiterates Sector Perform rating and C$3.00 pt |
| Goldcorp | G.TSX | Macquarie | 12/6/11 | Reiterates Outperform rating and C$71.00 pt |
| Kinross Gold | KGC | J.P.Morgan | 12/6/11 | Reiterates Outperform rating and $23.00 pt |
| Kinross Gold | K.TSX | Macquarie | 12/6/11 | Reiterates Outperform rating and C$23.00 pt |
| Perseus Mining | PRU.TSX | Dundee Securities | 12/6/11 | Reiterates Buy rating and C$13.00 pt |
| Canaco Resources | CAN.TSXV | CIBC | 12/5/11 | Reiterates Sector Outperform rating and C$4.50 pt |
| Colossus Minerals | CSI.TSX | Stifel Nicolaus | 12/5/11 | Reiterates Buy rating and C$11.75 pt |
| Perseus Mining | PRU.TSX | CIBC | 12/5/11 | Reiterates Sector Outperform rating and C$5.00 pt |
| Rio Alto Mining Ltd | RIO.TSXV | Scotia Capital | 12/2/11 | Raises pt to C$4.50 from C$4.20 but maintains Sector Perform rating |
| IAMGOLD | IAG | Credit Suisse | 12/1/11 | Initiates coverage with Outperform rating and $25.00 pt |
| Perseus Mining | PRU.TSX | Dundee Securities | 12/1/11 | Reiterates Buy rating and C$5.00 pt |
| Vista Gold | VGZ | Global Hunter | 12/1/11 | Initiates coverage with Buy rating and $6.75 pt |
| Alacer Gold | ASR.TSX | Raymond James | 11/30/11 | Reiterates Market Perform rating and C$12.50 pt |
| Belo Sun Mining | BSX.TSXV | CIBC | 11/30/11 | Reiterates Sector Outperformer rating and C$2.60 pt |
| CGA Mining | CGA.TSX | CIBC | 11/30/11 | Reiterates Sector Outperformer rating and C$4.00 pt |
| Colossus Minerals | CSI.TSX | Stifel Nicolaus | 11/30/11 | Initiates coverage with Buy rating and C$11.75 pt |
| Newmont Mining | NEM | CIBC | 11/30/11 | Reiterates Sector Underperformer rating and $82.00 pt |
| Newmont Mining | NEM | TD Securities | 11/30/11 | Reiterates Buy rating and $85.00 pt |
| Pretium Resources | PVG.TSX | GMP Securities | 11/30/11 | Initiates coverage with Buy rating and C$22.00 pt |
| Rio Alto Mining Ltd | RIO.TSXV | CIBC | 11/30/11 | Reiterates Sector Outperformer rating and C$4.60 pt |
| Alacer Gold | ASR.TSX | Macquarie | 11/29/11 | Reiterates Outperform rating and C$13.20 pt |
| ATAC Resources | ATC.TSXV | Macquarie | 11/29/11 | Reiterates Outperform rating and C$8.50 pt |
| Eldorado Gold | ELD.TSX | Macquarie | 11/29/11 | Upgrades to Neutral from Underperform but maintains C$20.00 pt |
| Agnico-Eagle Mines | AEM | Canaccord Genuity | 11/28/11 | Downgrades to Hold from Buy and lowers pt to $53.00 from $98.00 |
| Allied Nevada Gold | ANV.TSX | Dundee Securities | 11/28/11 | Lowers pt to C$46.00 from C$53.00 but reiterates Buy rating |
| Pretium Resources | PVG.TSX | CIBC | 11/28/11 | Upgrades to Sector Outperformer from Sector Performer and raises pt to C$15.50 from C$12.50 |
| Randgold Resources | GOLD | Scotia Capital | 11/28/11 | Reiterates Sector Perform rating and $120.00 pt |
| US Gold | UXG | Dahlman Rose | 11/28/11 | Reiterates Buy rating and $7.27 pt |
| Claude Resources | CRJ.TSX | CIC | 11/25/11 | Reiterates Sector Performer rating and C$2.50 pt |
| IAMGOLD | IMG.TSX | Macquarie | 11/23/11 | Upgrades to Outperform from Neutral but maintains C$27.00 pt |
| Rainy River Resources | RR.TSX | Scotia Capital | 11/23/11 | Reiterates Sector Outperform rating and C$10.00 pt |
| Sabina Gold & Silver | SBB.TSX | Dundee Securities | 11/23/11 | Lowers pt to C$8.50 from C$9.00 but reiterates Buy rating |
| Timmins Gold | TMM.TSX | National Bank Financial | 11/23/11 | Reiterates Outperform rating and C$3.90 pt |
| Alamos Gold | AGI.TSX | Scotia Capital | 11/21/11 | Reiterates Sector Outperform rating and C$24.00 pt |
| Aura Minerals | ORA.TSX | Dundee Securities | 11/21/11 | Downgrades to Neutral from Buy and lowers pt to C$1.60 from C$2.50 |
| Hecla Mining | HL | UBS | 11/21/11 | Reiterates Buy rating and $11.00 pt |
| Silvercorp Metals | SVM | UBS | 11/21/11 | Reiterates Buy rating and $9.85 pt |
| NovaGold Resources | NG.TSX | National Bank Financial | 11/18/11 | Lowers pt to C$10.00 from C$10.50 but maintains Sector Perform rating |
| Alacer Gold | ASR.TSX | Haywood Securities | 11/17/11 | Reiterates Sector Outperform rating and C$13.75 pt |
| Coeur d’Alene Mines | CDE | J.P.Morgan | 11/17/11 | Reiterates Neutral rating and $30.00 pt |
| Golden Minerals | AUM.TSX | TD Securities | 11/17/11 | Initiates coverage with Speculative Buy rating and C$14.00 pt |
| Pan American Silver | PAAS | J.P.Morgan | 11/17/11 | Reiterates Underweight rating and $37.00 pt |
| Aura Minerals | ORA.TSX | Macquarie | 11/16/11 | Upgrades to Neutral from Underperform but maintains C$1.25 pt |
| Minefinders | MFN | Scotia Capital | 11/16/11 | Lowers pt to C$21.00 from C$22.00 but reiterates Sector Outperform rating |
| Nevsun Resources | NSU.TSX | GMP Securities | 11/16/11 | Reiterates Buy rating and C$7.50 pt |
| ATAC Resources | ATC.TSXV | Macquarie | 11/15/11 | Reiterates Outperform rating and C$8.50 pt |
| Claude Resources | CRJ.TSX | National Bank Financial | 11/15/11 | Reiterates Outperform rating and C$2.90 pt |
| Colossus Minerals | CSI.TSX | Macquarie | 11/15/11 | Reiterates Outperform rating and C$11.50 pt |
| Detour Gold | DGC.TSX | Macquarie | 11/15/11 | Reiterates Outperform rating and C$40.00 pt |
| Detour Gold | DGC.TSX | TD Securities | 11/15/11 | Lowers pt to C$47.00 from C$50.00 but reiterates Speculative Buy rating |
| Eastmain Minerals | ER.TSX | Macquarie | 11/15/11 | Raises pt to C$2.75 from C$2.25 and reiterates Outperform rating |
| Extorre Gold Mines | XG.TSX | Macquarie | 11/15/11 | Raises pt to C$12.50 from C$12.00 and reiterates Outperform rating |
| Gabriel Resources | GBU.TSX | Macquarie | 11/15/11 | Reiterates Outperform rating and C$9.00 pt |
| International Tower Hill Mines | ITH.TSX | Macquarie | 11/15/11 | Reiterates Outperform rating and C$12.00 pt |
| Kirkland Lake Gold | KGI.TSX | National Bank Financial | 11/15/11 | Reiterates Outperform rating and C$21.50 pt |
| Midas Gold | MAX.TSX | Macquarie | 11/15/11 | Reiterates Outperform rating and C$9.75 pt |
| Mirasol Resources | MRZ.TSXV | Macquarie | 11/15/11 | Reiterates Outperform rating and C$6.00 pt |
| Osisko Mining | OSK.TSX | CIBC | 11/15/11 | Lowers pt to C$23.00 from C$24.00 but reiterates Sector Outperformer rating |
| Rainy River Resources | RR.TSX | Macquarie | 11/15/11 | Raises pt to C$9.00 from C$8.75 and reiterates Outperform rating |
| San Gold | SGR.TSX | Dundee Securities | 11/15/11 | Lowers pt to C$4.00 from C$4.50 but reiterates Buy rating |
| Strategic Metals | SMD.TSXV | Macquarie | 11/15/11 | Lowers pt to C$3.00 from C$3.25 but reiterates Outperform rating |
| Tahoe Resources | THO.TSX | GMP Securities | 11/15/11 | Raises pt to C$29.00 from C$27.00 and reiterates Buy rating |
| Tahoe Resources | THO.TSX | Macquarie | 11/15/11 | Raises pt to C$26.00 from C$23.00 and reiterates Outperform rating |
| Torex Gold Resources | TXG.TSX | Macquarie | 11/15/11 | Reiterates Outperform rating and C$2.50 pt |
| Virginia Mines | VGQ.TSX | Macquarie | 11/15/11 | Lowers pt to C$10.50 from C$11.50 but reiterates Outperform rating |
| Alacer Gold | ASR.TSX | BMO Capital Markets | 11/14/11 | Reiterates Market Perform rating and C$12.00 pt |
| Alacer Gold | ASR.TSX | National Bank Financial | 11/14/11 | Lowers pt to C$14.00 from C$15.00 but reiterates Outperform rating |
| Alacer Gold | ASR.TSX | Raymond James | 11/14/11 | Raises pt to C$12.50 from C$10.60 and reiterates Market Perform rating |
| Alacer Gold | ASR.TSX | RBC Capital Markets | 11/14/11 | Raises pt to C$19.00 from C$18.00 and reiterates Outperform rating |
| Colossus Minerals | CSI.TSX | Dundee Securities | 11/14/11 | Reiterates Buy rating and C$13.00 pt |
| Colossus Minerals | CSI.TSX | Macquarie | 11/14/11 | Reiterates Outperform rating and C$11.50 pt |
| Detour Gold | DGC.TSX | UBS | 11/14/11 | Reiterates Buy rating and C$41.00 pt |
| Silver Wheaton | SLW | J.P.Morgan | 11/14/11 | Lowers pt to $43.00 from $46.00 but reiterates Overweight rating |
| St. Andrew Goldfields | SAS.TSX | National Bank Financial | 11/14/11 | Reiterates Outperform rating and C$1.10 pt |
| Lake Shore Gold | LSG.TSX | CIBC | 11/13/11 | Lowers pt to C$2.00 from C$3.00 and maintains Sector Underperformer rating |
| Rainy River Resources | RR.TSX | CIBC | 11/13/11 | Upgrades to Sector Performer from Sector Underperformer but lowers pt to C$10.00 from C$12.25 |
| Aura Minerals | ORA.TSX | Dundee Securities | 11/11/11 | Lowers pt to C$2.50 from C$3.00 but reiterates Buy rating |
| Aura Minerals | ORA.TSX | Macquarie | 11/11/11 | Downgrades to Underperform from Outperform and lowers pt to C$1.25 from C$2.25 |
| AuRico Gold | AUQ.TSX | CIBC | 11/11/11 | Reiterates Sector Outperfomer rating and C$15.00 pt |
| AuRico Gold | AUQ.TSX | Dundee Securities | 11/11/11 | Reiterates Buy rating and C$14.50 pt |
| AuRico Gold | AUQ | Scotia Capital | 11/11/11 | Reiterates Sector Outperfom rating and $16.00 pt |
| Aurizon Mines | ARZ.TSX | National Bank Financial | 11/11/11 | Reiterates Outperform rating and C$6.90 pt |
| Claude Resources | CRJ.TSX | Canaccord Genuity | 11/11/11 | Lowers pt to C$3.10 from C$3.25 but reiterates Speculative Buy rating |
| First Majestic Silver | AG | Dahlman Rose | 11/11/11 | Reiterates Buy rating and $19.12 pt |
| Fortuna Silver Mines | FVI.TSX | CIBC | 11/11/11 | Reiterates Sector Outperfomer rating and C$9.00 pt |
| Guyana Goldfields | GUY.TSX | UBS | 11/11/11 | Reiterates Buy rating and C$13.25 pt |
| Lake Shore Gold | LSG.TSX | M Partners | 11/11/11 | Lowers pt to C$4.00 from C$4.50 but reiterates Buy rating |
| Lake Shore Gold | LSG.TSX | National Bank Financial | 11/11/11 | Lowers pt to C$4.00 from C$4.40 but reiterates Outperform rating |
| NovaGold Resources | NG.TSX | National Bank Financial | 11/11/11 | Reiterates Sector Perform rating and C$10.50 pt |
| Perseus Mining | PRU.TSX | Dundee Securities | 11/11/11 | Reiterates Buy rating and C$5.50 pt |
| Rainy River Resources | RR.TSX | National Bank Financial | 11/11/11 | Lowers pt to C$9.00 from C$13.00 but reiterates Outperform rating |
| Rio Alto Mining Ltd | RIO.TSXV | Scotia Capital | 11/11/11 | Reiterates Sector Perform rating and C$4.20 pt |
| SEMAFO | SMF.TSX | CIBC | 11/11/11 | Reiterates Sector Outperfomer rating and C$15.00 pt |
| SEMAFO | SMF.TSX | National Bank Financial | 11/11/11 | Lowers pt to C$14.50 from C$15.00 but reiterates Outperform rating |
| Silver Standard Resources | SSRI | CIBC | 11/11/11 | Downgrades to Sector Performer from Sector Outperformer and lowers pt to C$18.00 from C$30.00 |
| Silver Standard Resources | SSRI | Dahlman Rose | 11/11/11 | Reiterates Buy rating and $54.26 pt |
| Teranga Gold | TGZ.TSX | Scotia Capital | 11/11/11 | Reiterates Sector Perform rating and C$3.00 pt |
| Alamos Gold | AGI.TSX | Dundee Securities | 11/10/11 | Reiterates Buy rating and C$23.00 pt |
| Aurizon Mines | ARZ.TSX | Dundee Securities | 11/10/11 | Reiterates Buy rating and C$8.50 pt |
| Aurizon Mines | ARZ.TSX | Macquarie | 11/10/11 | Reiterates Outperform rating and C$8.00 pt |
| Gold Fields | GFI | Scotia Capital | 11/10/11 | Maintains Sector Perform rating and $20.00 pt |
| Golden Star Resources | GSC.TSX | Macquarie | 11/10/11 | Maintains Neutral rating and C$3.00 pt |
| Golden Star Resources | GSC.TSX | National Bank Financial | 11/10/11 | Lowers pt to C$2.45 from C$4.00 but maintains Sector Perform rating |
| Kirkland Lake Gold | KGI.TSX | Dundee Securities | 11/10/11 | Raises pt to C$24.00 from C$23.00 and reiterates Buy rating |
| Pan American Silver | PAAS | Raymond James | 11/10/11 | Downgrades to Hold from Buy at Canaccord Genuity |
| Pan American Silver | PAAS | Raymond James | 11/10/11 | Downgrades to Outperform from Strong Buy and lowers pt to $43.00 from $50.00 |
| Rainy River Resources | RR.TSX | UBS | 11/10/11 | Lowers pt to C$11.50 from C$13.50 but reiterates Buy rating |
| SEMAFO | SMF.TSX | Macquarie | 11/10/11 | Reiterates Outperform rating and C$13.00 pt |
| SEMAFO | SMF.TSX | Scotia Capital | 11/10/11 | Reiterates Sector Perform rating and C$10.75 pt |
| Silver Wheaton | SLW.TSX | TD Securities | 11/10/11 | Reiterates Buy rating and $45.00 pt |
| Teranga Gold | TGZ.TSX | GMP Securities | 11/10/11 | Reiterates Buy rating and C$4.10 pt |
| Agnico-Eagle Mines | AEM.TSX | Macquarie | 11/9/11 | Raises pt to C$62.00 from C$57.00 but maintains Neutral rating |
| Alamos Gold | AGI.TSX | Macquarie | 11/9/11 | Raises pt to C$20.00 from C$19.00 but maintains Neutral rating |
| Allied Nevada Gold | ANV.TSX | Macquarie | 11/9/11 | Raises pt to C$49.00 from C$42.00 and reiterates Outperform rating |
| Aura Minerals | ORA.TSX | Macquarie | 11/9/11 | Raises pt to C$2.25 from C$2.00 and reiterates Outperform rating |
| AuRico Gold | AUQ.TSX | Macquarie | 11/9/11 | Raises pt to C$15.50 from C$14.50 and reiterates Outperform rating |
| Barrick Gold | ABX.TSX | Macquarie | 11/9/11 | Raises pt to C$84.00 from C$74.00 and reiterates Outperform rating |
| Eldorado Gold | ELD.TSX | Macquarie | 11/9/11 | Raises pt to C$20.00 from C$18.50 but maintains Underperform rating |
| Franco-Nevada | FNV.TSX | National Bank Financial | 11/9/11 | Reiterates Outperform rating and C$49.00 pt |
| Franco-Nevada | FNV | Scotia Capital | 11/9/11 | Reiterates Sector Perform rating and $47.00 pt |
| Goldcorp | G.TSX | Macquarie | 11/9/11 | Raises pt to C$71.00 from C$66.00 and reiterates Outperform rating |
| IAMGOLD | IAG | CIBC | 11/9/11 | Lowers pt to $31.00 from $34.00 but reiterates Sector Outperformer rating |
| IAMGOLD | IMG.TSX | Macquarie | 11/9/11 | Raises pt to C$27.00 from C$25.50 but maintains Neutral rating |
| IAMGOLD | IAG | Scotia Capital | 11/9/11 | Reiterates Sector Outperform rating and C$26.00 pt |
| Kinross Gold | K.TSX | Dundee Securities | 11/9/11 | Downgrades to Neutral from Buy and lowers pt to C$17.00 from C$20.00 |
| Kinross Gold | K.TSX | Macquarie | 11/9/11 | Raises pt to C$22.50 from C$22.50 and reiterates Outperform rating |
| Minefinders | MFL.TSX | TD Securities | 11/9/11 | Reiterates Reduce rating and C$14.00 pt |
| OceanaGold | OGC.TSX | Macquarie | 11/9/11 | Raises pt to C$4.00 from C$3.50 and reiterates Outperform rating |
| Primero Mining | P.TSX | Macquarie | 11/9/11 | Raises pt to C$5.50 from C$5.00 and reiterates Outperform rating |
| Silver Wheaton | SLW.TSX | Macquarie | 11/9/11 | Raises pt to C$42.00 from C$38.00 but maintains Neutral rating |
| Timmins Gold | TMM.TSX | National Bank Financial | 11/9/11 | Reiterates Outperform rating and C$3.90 pt |
| Yamana Gold | YRI.TSX | Macquarie | 11/9/11 | Raises pt to C$18.00 from C$17.50 but maintains Neutral rating |
| Allied Nevada Gold | ANV | CIBC | 11/8/11 | Reiterates Sector Performer rating and $48.00 pt |
| Coeur d’Alene Mines | CDE | CIBC | 11/8/11 | Raises pt to $36.00 from $31.00 but maintains Sector Performer rating |
| Minefinders | MFN | Scotia Capital | 11/8/11 | Reiterates Sector Outperform rating and $22.00 pt |
| Rainy River Resources | RR.TSX | National Bank Financial | 11/8/11 | Reiterates Outperform rating and C$13.00 pt |
| Centerra Gold | CG.TSX | CIBC | 11/7/11 | Lowers pt to C$33.00 from C$34.00 but reiterates Sector Outperformer rating |
| Centerra Gold | CG.TSX | GMP Securities | 11/7/11 | Raises pt to C$18.75 from C$18.25 but maintains Hold rating |
| Centerra Gold | CG.TSX | Scotia Capital | 11/7/11 | Reiterates Sector Perform rating and C$23.00 pt |
| Kinross Gold | KGC | CIBC | 11/7/11 | Lowers pt to $20.00 from $26.00 but reiterates Sector Outperformer rating |
| Primero Mining | P.TSX | UBS | 11/7/11 | Reiterates Buy rating and C$5.25 pt |
| Richmont Mines | RIC.TSX | Rodman & Renshaw | 11/7/11 | Raises pt to C$13.78 and reiterates Market Outperform / Aggressive Risk rating |
| SEMAFO | SMF.TSX | National Bank Financial | 11/7/11 | Reiterates Outperform rating and C$15.00 pt |
| Yamana Gold | AUY | CIBC | 11/7/11 | Raises pt to $22.00 from $20.00 and reiterates Sector Outperformer rating |
| Alamos Gold | AGI.TSX | GMP Securities | 11/4/11 | Raises pt to C$18.75 from C$18.25 but maintains Hold rating |
| Alamos Gold | AGI.TSX | Macquarie | 11/4/11 | Reiterates Neutral rating and C$19.00 pt |
| Avocet Mining | AVM.LSX | GMP Securities | 11/4/11 | Initiates coverage with Buy rating and 290p pt |
| Eldorado Gold | ELD.TSX | GMP Securities | 11/4/11 | Reiterates Buy rating and C$26.50 pt |
| Eldorado Gold | ELD.TSX | Macquarie | 11/4/11 | Downgrades to Underperform from Neutral but maintains C$18.50 pt |
| IAMGOLD | IMG.TSX | Macquarie | 11/4/11 | Downgrades to Neutral from Outperform but maintains C$25.50 pt |
| Kinross Gold | K.TSX | GMP Securities | 11/4/11 | Lowers pt to C$24.50 from C$26.00 but reiterates Buy rating |
| Queenston Mining | QMI.TSX | Dundee Securities | 11/4/11 | Reiterates Buy rating and C$10.00 pt |
| Yamana Gold | YRI.TSX | Macquarie | 11/4/11 | Downgrades to Neutral from Outperform and lowers pt to C$17.50 from C$18.00 |
| Agnico-Eagle Mines | AEM | Dahlman Rose | 11/3/11 | Upgrades to Buy from Hold but maintains $50.01 rating |
| Alamos Gold | AGI.TSX | CIBC | 11/3/11 | Downgrades to Sector Performer from Sector Outperformer and lowers pt to C$24.00 from C$29.00 |
| Alamos Gold | AGI.TSX | Dundee Securities | 11/3/11 | Reiterates Buy rating and C$23.00 pt |
| Eldorado Gold | EGO | Scotia Capital | 11/3/11 | Reiterates Sector Outperform rating and $25.50 pt |
| Extorre Gold Mines | XG.TSX | Macquarie | 11/3/11 | Reiterates Outperform rating and C$12.00 pt |
| Kinross Gold | K.TSX | Macquarie | 11/3/11 | Reiterates Outperform rating and C$22.00 pt |
| Kinross Gold | KGC | UBS | 11/3/11 | Lowers pt to $24.00 from $25.50 but reiterates Buy rating |
| Perseus Mining | PRU.TSX | Dundee Securities | 11/3/11 | Reiterates Buy rating and C$5.50 pt |
| Royal Gold | RGLD | CIBC | 11/3/11 | Raises pt to $86.00 from $80.00 but mainains Sector Performer rating |
| Royal Gold | RGLD | Scotia Capital | 11/3/11 | Reiterates Sector Perform rating and $75.00 pt |
| Yamana Gold | YRI.TSX | National Bank Financial | 11/3/11 | Reiterates Outperform rating and C$17.50 pt |
| Yamana Gold | AUY | TD Securities | 11/3/11 | Raises pt to $20.00 from $19.00 and reiterates Buy rating |
| Endeavour Silver | EDR.TSX | CIBC | 11/2/11 | Reiterates Sector Performer rating and C$13.00 pt |
| Gabriel Resources | GBU.TSX | Scotia Capital | 11/2/11 | Lowers pt to C$7.50 from C$8.00 but maintains Sector Perform rating |
| OceanaGold | OGC.TSX | Macquarie | 11/2/11 | Reiterates Outperform rating and C$3.50 pt |
| Randgold Resources | GOLD | Scotia Capital | 11/2/11 | Raises pt to $120.00 from $111.00 but maintains Sector Perform rating |
| Romarco Minerals | R.TSX | National Bank Financial | 11/2/11 | Reiterates Outperform rating and C$2.50 pt |
| Vista Gold | VGZ.TSX | National Bank Financial | 11/2/11 | Reiterates Outperform rating and C$4.20 pt |
| SEMAFO | SMF.TSX | TD Securities | 11/1/11 | Initiates coverage with Hold rating and C$10.00 pt |
| Timmins Gold | TMM.TSX | National Bank Financial | 11/1/11 | Reiterates Outperform rating and C$3.90 pt |
| Newmont Mining | NEM | GMP Securities | 10/31/11 | Reiterates Buy rating and $84.00 pt |
| Richmont Mines | RIC.TSX | National Bank Financial | 10/31/11 | Reiterates Sector Perform rating and C$12.00 pt |
| Agnico-Eagle Mines | AEM | CIBC | 10/30/11 | Lowers pt to C$60.00 from C$91.00 but maintains Sector Performer rating |
| Barrick Gold | ABX | CIBC | 10/30/11 | Reiterates Sector Performer rating and $71.00 pt |
| Goldcorp | GG | CIBC | 10/30/11 | Lowers pt to C$73.00 from C$76.00 but reiterates Sector Outperformer rating |
| Newmont Mining | NEM | CIBC | 10/30/11 | Downgrades to Sector Underperformer from Sector Performer but raises pt to $82.00 from $77.00 |
| Agnico-Eagle Mines | AEM.TSX | Macquarie | 10/28/11 | Lowers pt to C$57.00 from C$59.00 but maintains Neutral rating |
| Barrick Gold | ABX.TSX | Macquarie | 10/28/11 | Reiterates Outperform rating and C$74.00 pt |
| Newmont Mining | NEM | Scotia Capital | 10/28/11 | Raises pt to $75.00 from $71.00 but maintains Sector Perform rating |
| Newmont Mining | NEM | UBS | 10/28/11 | Reiterates Buy rating and $88.00 pt |
| Allied Nevada Gold | ANV | CIBC | 10/27/11 | Lowers pt to $48.00 from $51.00 but maintains Sector Performer rating |
| AuRico Gold | AUQ.TSX | CIBC | 10/27/11 | Lowers pt to C$15.00 from C$19.00 but reiterates Sector Outperformer rating |
| CGA Mining | CGA.TSX | CIBC | 10/27/11 | Lowers pt to C$4.00 from C$4.75 but reiterates Sector Outperformer rating |
| Coeur d’Alene Mines | CDE | CIBC | 10/27/11 | Lowers pt to $31.00 from $38.00 but maintains Sector Performer rating |
| Endeavour Silver | EDR.TSX | CIBC | 10/27/11 | Lowers pt to C$13.00 from C$16.00 but maintains Sector Performer rating |
| First Majestic Silver | FR.TSX | CIBC | 10/27/11 | Downgrades to Sector Underperformer from Sector Performer and lowers pt to C$21.00 from C$29.00 |
| Fortuna Silver Mines | FVI.TSX | CIBC | 10/27/11 | Reiterates Sector Outperformer rating and C$9.00 pt |
| Hecla Mining | HL | CIBC | 10/27/11 | Lowers pt to $7.00 from $9.00 and reiterates Sector Underperformer rating |
| Minefinders | MFL.TSX | CIBC | 10/27/11 | Downgrades to Sector Performer from Sector Outperformer and lowers pt to C$19.00 from C$23.50 |
| New Gold | NGD.TSX | CIBC | 10/27/11 | Lowers pt to C$15.00 from C$15.50 but maintains Sector Performer rating |
| Pan American Silver | PAAS | CIBC | 10/27/11 | Downgrades to Sector Performer from Sector Outperformer and lowers pt to $38.00 from $49.00 |
| Pretium Resources | PVG.TSX | CIBC | 10/27/11 | Lowers pt to C$12.50 from C$15.00 but maintains Sector Performer rating |
| Romarco Minerals | R.TSX | CIBC | 10/27/11 | Lowers pt to C$1.25 from C$1.45 but maintains Sector Performer rating |
| Silver Standard Resources | SSRI | CIBC | 10/27/11 | Lowers pt to $30.00 from $52.00 but reiterates Sector Outperformer rating |
| Silver Wheaton | SLW.TSX | CIBC | 10/27/11 | Reiterates Sector Outperformer rating and $62.00 pt |
| Silvercorp Metals | SVM.TSX | CIBC | 10/27/11 | Lowers pt to C$13.00 from C$14.00 but maintains Sector Performer rating |
| Tahoe Resources | THO.TSX | CIBC | 10/27/11 | Downgrades to Sector Performer from Sector Outperformer but maintains C$24.00 pt |
| Agnico-Eagle Mines | AEM | Scotia Capital | 10/27/11 | Reiterates Sector Perform rating and C$62.00 pt |
| Agnico-Eagle Mines | AEM | UBS | 10/27/11 | Lowers pt to $59.00 from $64.00 but reiterates Buy rating |
| Goldcorp | G.TSX | Macquarie | 10/27/11 | Reiterates Outperform rating and C$66.00 pt |
| Goldcorp | GG | UBS | 10/27/11 | Lowers pt to $66.00 from $67.50 but reiterates Buy rating |
| Midas Gold | MAX.TSX | Macquarie | 10/27/11 | Initiates coverage with Outperform rating and C$9.75 pt |
| Claude Resources | CRJ.TSX | National Bank Financial | 10/26/11 | Reiterates Outperform rating and C$3.30 pt |
| Primero Mining | P.TSX | Macquarie | 10/26/11 | Lowers pt to C$5.00 from C$5.50 but reiterates Outperform rating |
| Agnico-Eagle Mines | AEM.TSX | Macquarie | 10/25/11 | Upgrades to Neutral from Underperform but maintains C$59.00 pt |
| Alacer Gold | ASR.TSX | National Bank Financial | 10/25/11 | Reiterates Outperform rating and C$15.00 pt |
| Eldorado Gold | ELD.TSX | Macquarie | 10/25/11 | Upgrades to Neutral from Underperform and raises pt to C$18.50 from C$18.00 |
| Newmont Mining | NEM | TD Securities | 10/25/11 | Initiates coverage with Buy rating and $85.00 pt |
| African Barrick Gold | ABG.LSX | Scotia Capital | 10/24/11 | Raises pt to 625p from 600p but maintains Sector Perform rating |
| Colossus Minerals | CSI.TSX | Macquarie | 10/24/11 | Lowers price target to C$11.50 from C$13.00 but reiterates Outperform rating |
| Sulliden Gold | SUE.TSX | National Bank Financial | 10/21/11 | Reiterates Outperform rating and C$3.90 pt |
| African Barrick Gold | ABG.LSX | GMP Securities | 10/20/11 | Lowers price target to 750p from 789p but reiterates Buy rating |
| African Barrick Gold | ABG.LSX | Scotia Capital | 10/20/11 | Maintains Sector Perform rating and 600p ($10.00) pt |
| Allied Nevada Gold | ANV.TSX | Macquarie | 10/20/11 | Upgrades to Outperform from Neutral but maintains C$42.00 pt |
| Nevsun Resources | NSU.TSX | Canaccord Genuity | 10/20/11 | Rating changed to Speculative Buy from Buy but C$8.00 pt maintained |
| Newcrest Mining | NCM.ASX | J.P.Morgan | 10/20/11 | Reiterates Overweight rating and A$43.50 pt |
| Osisko Mining | OSK.TSX | Dundee Securities | 10/20/11 | Reiterates Buy rating and C$18.50 pt |
| Osisko Mining | OSK.TSX | Macquarie | 10/20/11 | Reiterates Outperform rating and C$18.00 pt |
| Agnico-Eagle Mines | AEM.TSX | GMP Securities | 10/19/11 | Lowers price target to C$73.00 from C$87.00 but maintains Buy rating |
| Agnico-Eagle Mines | AEM.TSX | Macquarie | 10/19/11 | Downgrades to Underperform from Neutral and lowers pt to C$59.00 from C$69.00 |
| Aura Minerals | ORA.TSX | Dundee Securities | 10/19/11 | Reiterates Buy rating and C$3.00 pt |
| Freeport-McMoRan Copper & Gold | FCX | J.P.Morgan | 10/19/11 | Lowers pt to $61.00 from $63.00 but reiterates Overweight rating |
| Jaguar Mining | JAG | J.P.Morgan | 10/19/11 | Downgrades to Neutral from Overweight and lowers pt to $5.00 from $7.00 |
| Jaguar Mining | JAG.TSX | National Bank Financial | 10/19/11 | Maintains Sector Perform rating and C$7.80 pt |
| Romarco Minerals | R.TSX | National Bank Financial | 10/19/11 | Reiterates Outperform rating and C$2.50 pt |
| Eldorado Gold | EGO | Scotia Capital | 10/17/11 | Reiterates Outperform rating and $25.50 pt |
| Golden Star Resources | GSC.TSX | National Bank Financial | 10/17/11 | Maintains Sector Perform rating and C$4.00 pt |
| Orezone Gold | ORE.TSX | National Bank Financial | 10/17/11 | Maintains Outperform rating and C$5.20 pt |
| Banro Corp | BAA.TSX | GMP Securities | 10/14/11 | Raises pt to C$8.90 from C$8.53 and reiterates Buy rating |
| Colossus Minerals | CSI.TSX | Macquarie | 10/14/11 | Reiterates Outperform rating and C$13.00 pt |
| San Gold | SGR.TSX | National Bank Financial | 10/14/11 | Lowers pt to C$4.10 from C$4.60 but reiterates Outperform rating |
| Barrick Gold | ABX | J.P.Morgan | 10/13/11 | Lowers pt to $53 from $55 but reiterates Overweight rating |
| Compania de Minas Buenaventura | BVN | J.P.Morgan | 10/13/11 | Lowers pt to $49 from $54 but maintains Neutral rating |
| Coeur d’Alene Mines | CDE | J.P.Morgan | 10/13/11 | Lowers pt to $30 from $31 but maintains Neutral rating |
| Eldorado Gold | ELD.TSX | Macquarie | 10/13/11 | Maintains Outperform rating and C$18.00 pt |
| Goldcorp | GG | J.P.Morgan | 10/13/11 | Lowers pt to $63 from $66 but reiterates Overweight rating |
| Hecla Mining | HL | J.P.Morgan | 10/13/11 | Lowers pt to $10.00 from $10.50 but maintains Neutral rating |
| Newmont Mining | NEM | J.P.Morgan | 10/13/11 | Lowers pt to $81 from $84 but reiterates Overweight rating |
| Pan American Silver | ABX | J.P.Morgan | 10/13/11 | Lowers pt to $37 from $41 and maintains Underweight rating |
| Agnico-Eagle Mines | AEM.TSX | Macquarie | 10/12/11 | Downgrades to Neutral from Outperform and lowers pt to C$69 from C$79 |
| Belo Sun Mining | BSX.TSXV | National Bank Financial | 10/12/11 | Maintains Outperform rating and C$2.10 pt |
| Extorre Gold Mines | XG.TSX | Macquarie | 10/12/11 | Maintains Outperform rating and C$12.00 pt |
| First Majestic Silver | FR.TSX | UBS | 10/12/11 | Reiterates Buy rating and C$25.50 pt |
| Great Panther Silver | GPR.TSX | Dundee Securities | 10/12/11 | Reiterates Buy rating and C$4.30 pt |
| IAMGOLD | IAG | J.P.Morgan | 10/12/11 | Reiterates Sector Outperform rating and $26.00 pt |
| Osisko Mining | OSK.TSX | Dundee Securities | 10/12/11 | Lowers pt to C$18.50 from C$19.50 but maintained Buy rating |
| Avion Gold | AVR.TSX | National Bank Financial | 10/11/11 | Reiterates Outperform rating and C$3.15 pt |
| Claude Resources | CRJ.TSX | National Bank Financial | 10/11/11 | Reiterates Outperform rating and C$3.30 pt |
| Colossus Minerals | CSI.TSX | Macquarie | 10/11/11 | Reiterates Outperform rating and C$13.00 pt |
| Guyana Goldfields | GUY.TSX | Scotia Capital | 10/11/11 | Lowers pt to C$15.00 from C$16.00 but reiterates Sector Outperform rating |
| Ivanhoe Mines | IVN.TSX | Macquarie | 10/11/11 | Initiates coverage with Outperform rating and C$27.00 pt |
| Alamos Gold | AGI.TSX | Dundee Securities | 10/6/11 | Reiterates Buy rating and C$23.00 pt |
| Alamos Gold | AGI.TSX | UBS | 10/6/11 | Reiterates Buy rating and C$21.00 pt |
| Capstone Mining | CS.TSX | Macquarie | 10/6/11 | Reiterates Outperform rating and C$14.00 pt |
| SEMAFO | SMF.TSX | Macquarie | 10/6/11 | Reiterates Outperform rating and C$13.00 pt |
| Aurizon Mines | AZK | Global Hunter | 10/6/11 | Initiates coverage with Accumulate rating and $7.75 pt |
| Belo Sun Mining | BSX.TSXV | TD Securities | 10/5/11 | Lowers pt to C$1.50 from C$1.75 but reiterates Speculative Buy rating |
| Canaco Resources | CAN.TSXV | TD Securities | 10/5/11 | Lowers pt to C$5.00 from C$8.00 but reiterates Speculative Buy rating |
| Continental Gold | CNL.TSX | TD Securities | 10/5/11 | Lowers pt to C$12.00 from C$13.00 but reiterates Speculative Buy rating |
| Exeter Resource | XRC.TSX | TD Securities | 10/5/11 | Lowers pt to C$5.00 from C$6.00 but reiterates Speculative Buy rating |
| Extorre Gold Mines | XG.TSX | TD Securities | 10/5/11 | Lowers pt to C$14.00 from C$17.00 but reiterates Speculative Buy rating |
| Guyana Goldfields | GUY.TSX | TD Securities | 10/5/11 | Lowers pt to C$12.00 from C$14.00 but reiterates Speculative Buy rating |
| Lydian International | LYD.TSX | TD Securities | 10/5/11 | Lowers pt to C$3.50 from C$4.00 but reiterates Speculative Buy rating |
| Rubicon Minerals | RMX.TSX | TD Securities | 10/5/11 | Lowers pt to C$6.00 from C$7.50 but reiterates Speculative Buy rating |
| Barrick Gold | ABX | Deutsche Bank | 10/3/11 | Raises pt to $69 from $67 and reiterates Buy rating |
| Coeur d’Alene Mines | CDE | Deutsche Bank | 10/3/11 | Lowers pt to $35 from $50 but maintains Buy rating |
| Freeport-McMoRan Copper & Gold | FCX | Deutsche Bank | 10/3/11 | Upgrades to Buy from Hold but lowers pt to $48 from $60 |
| Goldcorp | GG | Deutsche Bank | 10/3/11 | Upgrades to Buy from Hold but lowers pt to $54 from $56 |
| Newmont Mining | NEM | Deutsche Bank | 10/3/11 | Raises pt to $77 from $75 and reiterates Buy rating |
| Silver Standard Resources | SSO.TSX | Deutsche Bank | 10/3/11 | Lowers pt to C$22 from C$31 but maintains Hold rating |
| AuRico Gold | AUQ.TSX | Dundee Securities | 9/28/11 | Lowers pt to C$15.00 from C$16.00 but reiterates Buy rating |
| Allied Nevada Gold | ANV.TSX | Macquarie | 9/26/11 | Downgrades to Neutral from Outperform and lowers pt to C$42 from C$50 |
| ATAC Resources | ATC.TSXV | Macquarie | 9/26/11 | Lowers pt to C$11.00 from C$14.00 but reiterates Outperform rating |
| Aura Minerals | ORA.TSX | Macquarie | 9/26/11 | Upgrades to Outperform from Neutral but lowers pt to C$2.00 from C$2.50 |
| Auryx Gold | AYX.TSX | Macquarie | 9/26/11 | Lowers pt to C$1.50 from C$1.60 but reiterates Outperform rating |
| Barrick Gold | ABX.TSX | GMP Securities | 9/26/11 | Raises pt to C$73.50 and reiterates Buy rating |
| Eastmain Resources | ER.TSX | Macquarie | 9/26/11 | Lowers pt to C$2.25 from C$2.50 but reiterates Outperform rating |
| Extorre Gold Mines | XG.TSX | Macquarie | 9/26/11 | Lowers pt to C$12.00 from C$13.25 but reiterates Outperform rating |
| Golden Star Resources | GSS | Scotia Capital | 9/26/11 | Upgrades to Sector Perform from Sector Underperform with $2.50 pt |
| International Tower Hill Mines | ITH.TSX | Macquarie | 9/26/11 | Lowers pt to C$12.00 from C$13.50 but reiterates Outperform rating |
| Rainy River Resources | RR.TSXV | Macquarie | 9/26/11 | Lowers pt to C$8.75 from C$9.25 but maintains Neutral rating |
| Strategic Metals | SMD.TSXV | Macquarie | 9/26/11 | Lowers pt to C$3.25 from C$4.00 but reiterates Outperform rating |
| Tahoe Resources | THO.TSX | Macquarie | 9/26/11 | Lowers pt to C$23.00 from C$27.00 but reiterates Outperform rating |
| Torex Gold | TXG.TSX | Macquarie | 9/26/11 | Lowers pt to C$2.50 from C$2.75 but reiterates Outperform rating |
| Virginia Mines | VGQ.TSX | Macquarie | 9/26/11 | Lowers pt to C$11.50 from C$12.00 but reiterates Outperform rating |
| Allied Nevada Gold | ANV.TSX | Dundee Securities | 9/20/11 | Raises pt to C$53.00 from C$52.00 and reiterates Buy rating |
| B2Gold | BTO.TSX | Macquarie | 9/20/11 | Raises pt to C$4.75 from C$4.50 and reiterates Outperform rating |
| Rainy River Resources | RR.TSXV | Macquarie | 9/20/11 | Upgrades to Neutral from Underperform but maintains C$9.25 pt |
| HudBay Minerals | HBM.TSX | UBS | 9/19/11 | Lowers pt to C$16 from C$17 but reiterates Buy rating |
| Harmony Gold | HMY | HSBC | 9/16/11 | Upgrades to Overweight from Neutral with $17 pt |
| IAMGOLD | IAG | HSBC | 9/16/11 | Upgrades to Overweight from Neutral and raises pt to $30 from $24 |
| Newmont Mining | NEM | HSBC | 9/16/11 | Upgrades to Overweight from Neutral and raises pt to $116 from $92 |
| Randgold Resources | GOLD | HSBC | 9/16/11 | Raises pt to $165 from $120 and reiterates Overweight rating |
| Royal Gold | RGLD | HSBC | 9/16/11 | Downgrades to Neutral from Overweight but raises pt to $89 from $76 |
| Yamana Gold | AUY | HSBC | 9/16/11 | Upgrades to Overweight from Neutral with $20 pt |
| Richmont Mines | RIC.TSX | CIBC | 9/15/11 | Initiates coverage with Sector Outperformer rating and C$14.00 pt |
| Romarco Minerals | R.TSX | CIBC | 9/15/11 | Upgrades to Sector Performer from Sector Underperformer but maintains C$1.55 pt |
| First Majestic Silver | FR.TSX | CIBC | 9/14/11 | Lowers pt to C$29.00 from C$30.00 but maintains Sector Performer rating |
| Agnico-Eagle Mines | AEM | J.P.Morgan | 9/13/11 | Reiterates Neutral rating and $70.00 pt |
| Barrick Gold | ABX | J.P.Morgan | 9/13/11 | Reiterates Overweight rating and $55.00 pt |
| Extorre Gold Mines | XG.TSX | Macquarie | 9/13/11 | Reiterates Outperform rating and C$13.25 pt |
| Goldcorp | GG | J.P.Morgan | 9/13/11 | Reiterates Overweight rating and $66.00 pt |
| Jaguar Mining | JAG | J.P.Morgan | 9/13/11 | Reiterates Overweight rating and $7.00 pt |
| Kinross Gold | KGC | J.P.Morgan | 9/13/11 | Reiterates Overweight rating and $23.00 pt |
| Newmont Mining | NEM | J.P.Morgan | 9/13/11 | Reiterates Overweight rating and $84.00 pt |
| African Barrick Gold | ABG.LSX | GMP Securities | 9/12/11 | Raises pt to £7.89 from £6.24 and reiterates Buy rating |
| Agnico-Eagle Mines | AEM.TSX | GMP Securities | 9/12/11 | Raises pt to C$87.00 from C$84.70 and reiterates Buy rating |
| Alamos Gold | AGI.TSX | GMP Securities | 9/12/11 | Raises pt to C$18.25 from C$17.50 but reiterates Hold rating |
| Allied Nevada Gold | ANV.TSX | GMP Securities | 9/12/11 | Raises pt to C$61.50 from C$50.00 and reiterates Buy rating |
| Argonaut Gold | AR.TSX | GMP Securities | 9/12/11 | Raises pt to C$10.00 from C$9.00 and reiterates Buy rating |
| Aureus Mining | AUE.LSX | GMP Securities | 9/12/11 | Raises pt to £1.40 from £1.30 and reiterates Buy rating |
| Banro Corp | BAA.TSX | GMP Securities | 9/12/11 | Raises pt to C$8.33 from C$8.16 and reiterates Buy rating |
| Barrick Gold | ABX.TSX | GMP Securities | 9/12/11 | Raises pt to C$71.00 from C$61.50 and reiterates Buy rating |
| Bear Creek Mining | BCM.TSXV | GMP Securities | 9/12/11 | Lowers pt to C$6.50 from C$12.25 but reiterates Buy rating |
| Centerra Gold | CG.TSX | GMP Securities | 9/12/11 | Raises pt to C$19.50 from C$16.00 but reiterates Reduce rating |
| Chesapeake Gold | CKV.TSXV | GMP Securities | 9/12/11 | Raises pt to C$20.00 from C$17.50 and reiterates Buy rating |
| Cluff Gold | CLF.TSX | GMP Securities | 9/12/11 | Raises pt to £1.55 from £1.44 and reiterates Buy rating |
| Eastern Platinum | ELR.TSX | GMP Securities | 9/12/11 | Lowers pt to C$1.15 from C$1.40 but reiterates Buy rating |
| Eldorado Gold | ELD.TSX | GMP Securities | 9/12/11 | Raises pt to C$26.50 from C$24.50 and reiterates Buy rating |
| Franco-Nevada | FNV.TSX | GMP Securities | 9/12/11 | Raises pt to C$52.50 from C$49.00 and reiterates Buy rating |
| Goldcorp | G.TSX | GMP Securities | 9/12/11 | Raises pt to C$80.00 from C$75.00 and reiterates Buy rating |
| IAMGOLD | IMG.TSX | GMP Securities | 9/12/11 | Raises pt to C$30.00 from C$29.00 and reiterates Buy rating |
| International Tower Hill Mines | ITH.TSX | GMP Securities | 9/12/11 | Lowers pt to C$13.25 from C$13.50 but reiterates Buy rating |
| Kinross Gold | K.TSX | GMP Securities | 9/12/11 | Raises pt to C$26.00 from C$25.75 and reiterates Buy rating |
| Nevsun Resources | NSU.TSX | GMP Securities | 9/12/11 | Raises pt to C$7.50 from C$6.90 and reiterates Buy rating |
| New Gold | NGD.TSX | GMP Securities | 9/12/11 | Raises pt to C$16.00 from C$13.50 and reiterates Buy rating |
| Newmont Mining | NEM | GMP Securities | 9/12/11 | Raises pt to $84.00 from $76.00 and reiterates Buy rating |
| North American Palladium | PDL.TSX | GMP Securities | 9/12/11 | Lowers pt to C$5.50 from C$6.25 but reiterates Buy rating |
| Orko Silver | OK.TSXV | GMP Securities | 9/12/11 | Lowers pt to C$3.50 from C$4.00 but reiterates Buy rating |
| Pan American Silver | PAAS | GMP Securities | 9/12/11 | Raises pt to $46.50 from $42.50 and reiterates Buy rating |
| Platinum Group Metals | PTM.TSX | GMP Securities | 9/12/11 | Lowers pt to C$3.70 from C$4.25 but reiterates Buy rating |
| Romarco Minerals | R.TSX | GMP Securities | 9/12/11 | Raises pt to C$2.70 from C$2.50 and reiterates Buy rating |
| Rubicon Minerals | RMX.TSX | GMP Securities | 9/12/11 | Raises pt to C$8.50 from C$7.75 and reiterates Buy rating |
| SEMAFO | SMF.TSX | GMP Securities | 9/12/11 | Raises pt to C$12.00 from C$11.50 and reiterates Buy rating |
| Silver Standard Resources | SSRI | GMP Securities | 9/12/11 | Raises pt to $45.00 from $41.00 and reiterates Buy rating |
| Silver Wheaton | SLW | GMP Securities | 9/12/11 | Raises pt to $49.00 from $45.50 and reiterates Buy rating |
| Tahoe Resources | THO.TSX | GMP Securities | 9/12/11 | Raises pt to C$27.00 from C$25.00 and reiterates Buy rating |
| Torex Gold | TXG.TSX | GMP Securities | 9/12/11 | Raises pt to C$2.90 from C$2.60 and reiterates Buy rating |
| Yamana Gold | YRI.TSX | GMP Securities | 9/12/11 | Downgrades to Hold from Buy but raises pt to C$17.00 from C$15.50 |
| Claude Resources | CRJ.TSX | Northland Capital | 9/8/11 | Reiterates Outperform rating and C$3.20 pt |
| Colossus Minerals | CSI.TSX | Dundee Securities | 9/8/11 | Initiates coverage with Buy rating and C$13.00 pt |
| Franco-Nevada | FNV.TSX | UBS | 9/8/11 | Raises pt to C$52.50 from C$49.00 and reiterates Buy rating |
| Guyana Goldfields | GUY.TSX | UBS | 9/8/11 | Raises pt to C$13.25 from C$12.50 and reiterates Buy rating |
| Royal Gold | RGLD | UBS | 9/8/11 | Raises pt to $78.50 from $74.00 but maintains Neutral rating |
| SEMAFO | SMF.TSX | Scotia Capital | 9/8/11 | Raises pt to C$11.00 from C$10.50 but maintains Sector Perform rating |
| SEMAFO | SMF.TSX | UBS | 9/8/11 | Raises pt to C$13.75 from C$13.50 and reiterates Buy rating |
| Silver Wheaton | SLW | UBS | 9/8/11 | Raises pt to $48.50 from $48.00 and reiterates Buy rating |
| Barrick Gold | ABX.TSX | Dundee Securities | 9/7/11 | Reiterates Buy rating and C$60 pt |
| Claude Resources | CGR | National Bank Financial | 9/6/11 | Reiterates Outperform rating and $3.30 pt |
| Freeport-McMoRan Copper & Gold | FCX | Jefferies | 9/6/11 | Initiates coverage with Buy rating and $65 pt |
| Oceana Gold | OGC.TSX | Northland Capital | 9/6/11 | Initiates coverage with Sector Outperform rating and C$3.50 pt |
| Mines Management | MGN | Roth Capital | 9/2/11 | Initiates coverage with Buy rating and $5.00 pt |
| Agnico-Eagle Mines | AEM | CIBC | 9/1/11 | Raises pt to $91 from $73 but maintains Sector Performer rating |
| Alamos Gold | AGI.TSX | CIBC | 9/1/11 | Raises pt to C$29 from C$25 and reiterates Sector Outperformer rating |
| AuRico Gold | AUQ.TSX | CIBC | 9/1/11 | Raises pt to C$19 from C$15 and reiterates Sector Outperformer rating |
| Banro Corp. | BAA.TSX | CIBC | 9/1/11 | Upgrades to Sector Outperformer from Sector Performer and raises pt to C$7.00 from C$5.00 |
| Barrick Gold | ABX | CIBC | 9/1/11 | Raises pt to $72 from $63 but maintains Sector Performer rating |
| Centerra Gold | CG.TSX | CIBC | 9/1/11 | Raises pt to C$34 from C$27 and reiterates Sector Outperformer rating |
| CGA Mining | CGA.TSX | CIBC | 9/1/11 | Raises pt to C$4.75 from C$4.00 and reiterates Sector Outperformer rating |
| Detour Gold | DGC.TSX | CIBC | 9/1/11 | Raises pt to C$55 from C$44 and reiterates Sector Outperformer rating |
| Eldorado Gold | EGO | CIBC | 9/1/11 | Raises pt to $28 from $25 and reiterates Sector Outperformer rating |
| Endeavour Silver | EDR.TSX | CIBC | 9/1/11 | Raises pt to C$16 from C$14 but maintains Sector Performer rating |
| First Majestic Silver | FR.TSX | CIBC | 9/1/11 | Upgrades to Sector Performer from Sector Underperformer and raises pt to C$30 from C$24 |
| Fortuna Silver Mines | FVI.TSX | CIBC | 9/1/11 | Raises pt to C$9.00 from C$8.00 and reiterates Sector Outperformer rating |
| Franco-Nevada | FNV.TSX | CIBC | 9/1/11 | Raises pt to C$55 from C$52 and reiterates Sector Outperformer rating |
| Goldcorp | GG | CIBC | 9/1/11 | Raises pt to $76 from $68 and reiterates Sector Outperformer rating |
| Golden Star Resources | GSC.TSX | Macquarie | 9/1/11 | Raises pt to C$3.00 from C$2.50 but maintains Neutral rating |
| Hecla Mining | HL | CIBC | 9/1/11 | Lowers pt to $9.00 from $9.50 and maintains Sector Underperformer rating |
| IAMGOLD | IAG | CIBC | 9/1/11 | Raises pt to $34 from $28 and reiterates Sector Outperformer rating |
| Kinross Gold | KGC | CIBC | 9/1/11 | Raises pt to $26 from $20 but maintains Sector Performer rating |
| Kirkland Lake Gold | KGI.TSX | CIBC | 9/1/11 | Raises pt to C$29 from C$24 and reiterates Sector Outperformer rating |
| Minefinders | MFL.TSX | CIBC | 9/1/11 | Raises pt to C$23.50 from C$23.00 and reiterates Sector Outperformer rating |
| New Gold | NGD.TSX | CIBC | 9/1/11 | Raises pt to C$15.50 from C$13.00 but maintains Sector Performer rating |
| Newmont Mining | NEM | CIBC | 9/1/11 | Raises pt to $77 from $69 but maintains Sector Performer rating |
| Osisko Mining | OSK.TSX | CIBC | 9/1/11 | Raises pt to C$24 from C$23 and reiterates Sector Outperformer rating |
| Pan American Silver | PAAS | CIBC | 9/1/11 | Lowers pt to $49 from $56 but maintains Sector Outperformer rating |
| Perseus Mining | PRU.TSX | CIBC | 9/1/11 | Raises pt to C$5.00 from C$4.75 and reiterates Sector Outperformer rating |
| Rainy River Resources | RR.TSXV | CIBC | 9/1/11 | Raises pt to C$12.25 from C$10.00 but maintains Sector Underperformer rating |
| Romarco Minerals | R.TSX | CIBC | 9/1/11 | Lowers pt to C$1.55 from C$1.95 and maintains Sector Underperformer rating |
| Royal Gold | RGLD | CIBC | 9/1/11 | Raises pt to $80 from $75 but maintains Sector Performer rating |
| Rubicon Minerals | RMX.TSX | CIBC | 9/1/11 | Raises pt to C$4.25 from C$4.00 but maintains Sector Underperformer rating |
| San Gold | SGR.TSX | CIBC | 9/1/11 | Upgrades to Sector Outperformer from Sector Performer and raises pt to C$4.70 from C$4.00 |
| Silvercorp Metals | SVM.TSX | CIBC | 9/1/11 | Upgrades to Sector Performer from Sector Underperformer and raises pt to C$14 from C$13 |
| Teranga Gold | TGZ.TSX | CIBC | 9/1/11 | Downgrades to Sector Performer from Sector Outperformer and lowers pt to C$3.50 from C$4.00 |
| Yamana Gold | AUY | CIBC | 9/1/11 | Raises pt to $20 from $16 but maintains Sector Performer rating |
| Alacer Gold | ASR.TSX | National Bank Financial | 8/30/11 | Reiterates Outperform rating and C$15.00 pt |
| Primero Mining | PPP | Canaccord Genuity | 8/29/11 | Raises price target to $8.00 from $7.75 and reiterates Buy recommendation |
| Randgold Resources | GOLD | Scotia Capital | 8/29/11 | Reiterated Sector Perform rating and $110 pt |
| International Tower Hill | ITH.TSX | Macquarie | 8/26/11 | Raises pt to C$13.50 from C$13.00 and reiterates Outperform rating |
| Extorre Gold Mines | XG.TSX | Macquarie | 8/25/11 | Upgrades to Outperform from Neutral with C$13.25 pt |
| Strategic Metals | SMD.TSX | Macquarie | 8/25/11 | Initiates coverage with Outperform rating and C$4.00 pt |
| Nevsun Resources | NSU | Canaccord Genuity | 8/24/11 | Upgrades to Buy from Speculative Buy |
| Eldorado Gold | ELD.TSX | TD Newcrest | 8/23/11 | Downgrades to Underperform from Neutral but maintains C$18.50 pt |
| Richmont Mines | RIC.TSX | Rodman & Renshaw | 8/23/11 | Raises pt to C$12.49 from C$10.00 and reiterates Market Outperform rating |
| Alacer Gold | ASR.TSX | National Bank Financial | 8/22/11 | Reiterates Outperform rating and C$15.00 pt |
| Centerra Gold | CG.TSX | Scotia Capital | 8/22/11 | Downgrades to Sector Perform from Sector Outperform but maintains C$23.00 pt |
| Eldorado Gold | ELD.TSX | TD Newcrest | 8/22/11 | Downgrades to Buy from Action List Buy and lowers pt to C$23 from C$24 |
| New Gold | NGD.TSX | Northland Capital | 8/22/11 | Initiates coverage with Sector Outperform rating and C$13.50 pt |
| Newmont Mining | NEM | Citigroup | 8/22/11 | Upgrades to Buy from Hold and raises pt to $80 from $55 |
| Rubicon Minerals | RMX.TSX | Northland Capital | 8/22/11 | Reiterates C$4.00 pt and Sector Perform rating |
| Claude Resources | CRJ.TSX | CIBC | 8/18/11 | Raises pt to C$2.50 from C$2.10 and maintains Sector Performer rating |
| Orezone Gold | ORE.TSX | CIBC | 8/18/11 | Reiterates Sector Outperformer rating and C$7.50 pt |
| Yamana Gold | YRI.TSX | Dundee Securities | 8/18/11 | Downgrades to Neutral from Buy but maintains C$16.00 pt |
| Claude Resources | CRJ.TSX | National Bank Financial | 8/17/11 | Reiterates Outperform rating and C$3.30 pt |
| Kinross Gold | K.TSX | Dundee Securities | 8/17/11 | Lowers pt to C$20 from C$21 but reiterates Buy rating |
| Royal Gold | RGLD | National Bank Financial | 8/17/11 | Inititates coverage with Outperform rating and $78 pt |
| Alacer Gold | ASR.TSX | National Bank Financial | 8/16/11 | Lowers pt to C$15.00 from C$15.50 but reiterates Outperform rating |
| Hana Mining | HMG.TSXV | GMP Securities | 8/16/11 | Initiates coverage with a Buy rating and C$2.00 pt |
| San Gold | SGR.TSX | CIBC | 8/16/11 | Raises pt to C$4.00 from C$3.60 but reiterates Sector Performer rating |
| Barrick Gold | ABX | CIBC | 8/15/11 | Downgrades to Sector Performer from Sector Outperformer and lowers pt to $63 from $71 |
| First Majestic Silver | FR.TSX | CIBC | 8/15/11 | Maintains C$24.00 pt and Sector Underperformer rating |
| Fortuna Silver Mines | FVI.TSX | CIBC | 8/15/11 | Maintains C$8.00 pt and Sector Outperformer rating |
| IAMGOLD | IAG | CIBC | 8/15/11 | Lowers pt to $28 from $31 but reiterates Sector Outperformer rating |
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