- AuRico Gold (AUQ +3.2%) and Osisko Mining (OSKFF.PK +6.2%) are upgraded to Outperform from Neutral by Credit Suisse.
- The firm notes that AUQ has changed management, transformed its asset base divesting higher cost mines to lower costs mines, revised expectations, and has delivered against targets; market hesitation remains, providing an attractive entry point.
- Osisko's Malartic project is progressing to full production, costs are improving to levels in line with the sector average, liquidity is no longer an immediate concern, and its valuation remains attractive.
- Despite the upgrade, the firm cuts its price target for AUQ to $5 from $5.50; it raises its target for Osisko to $7 from $6.