The Globe and Mail reports in its Tuesday edition that Scotia Capital raised its 2024/2025 gold price forecast by 5 per cent to $2,300 (U.S.) per ounce and its long-term assumption by 6 per cent to $1,900 (U.S.) per ounce on Monday, citing interest rates, inflation, U.S. dollar expectations and the stronger than expected buying of gold from the official sector. The Globe's David Leeder writes that the Scotia Capital also raised its forecast for silver by 4 per cent in 2024 and 2025 to $27 (U.S.) per ounce and by 6 per cent over the long term to $25 (U.S.) per ounce. These changes led to adjustments to net asset value, target price adjustments, as well as a group of rating changes. Scotia Capital analyst Ovais Habib has maintained Osisko Mining at "sector perform." Mr. Habib gave his share target a 65-Canadian-cent boost to $4.90 (Canadian). Analysts on average target the shares at $5.21 (Canadian). The Globe reported on Aug. 14 that Bank of Montreal analyst Andrew Mikitchook had lowered his recommendation for Osisko Mining to "market perform" from "outperform." The shares could then be had for $4.78 (Canadian).
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