The Globe and Mail reports in its Tuesday, March 18, edition that Scotia Capital analyst Ovais Habib increased his Collective Mining share target to $12 from $9.50 with a "sector outperform" rating. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $12.79. Mr. Habib upgraded his share target in response to Agnico Eagle Mines raising its interest in the company through the exercising of a share purchase agreement. Mr. Habib says in a note: "We view the announcement as positive for Collective Mining shares as Agnico Eagle Mines increased investment in the company and ongoing support of the project continues to lend confidence to the quality of the exploration package at Guayabales. As a result, we have increased the EV/oz multiple that we assign to the Guayabales and San Antonio projects in our NAV estimate, which yields a new price target."